Merritt Properties Acquires Center Point Business Park, Nearly Doubles Its Jacksonville Portfolio

Merritt Properties has announced the acquisition of Center Point Business Park, an 11-building, 537,800-square-foot light industrial park located in Jacksonville, Florida. This transaction, which took place on July 23, 2026, represents the largest acquisition in Merritt's history and nearly doubles the company's footprint in the Jacksonville market. The deal comes on the heels of a $750 million investment led by Centerbridge Partners, marking Merritt's first major transaction since securing this significant funding to bolster its growth strategy.

Center Point Business Park is strategically situated in Jacksonville's Butler Corridor, approximately 1.2 miles from Interstate 95 and half a mile from the Florida East Coast Railway. This prime location enhances last-mile connectivity, a critical factor for logistics and distribution operations. The property is currently 99% leased to 35 tenants across a diverse range of industries, underscoring its appeal and operational stability. The facilities feature modern specifications, including clear heights ranging from 18 to 22 feet, rear-load configurations, and 107 dock doors, making it well-suited for light industrial use.

Merritt Properties has a long-standing presence in the commercial real estate sector, with a portfolio exceeding 21 million square feet across various states, including Maryland, North Carolina, Florida, and Virginia. The acquisition of Center Point Business Park increases Merritt's Jacksonville portfolio to approximately 1.13 million square feet, which includes other properties such as Imeson Landing Business Park and Merritt at Gate Parkway. This expansion aligns with Merritt's strategic goal of enhancing its presence in key markets while diversifying its portfolio.

The acquisition also positions Merritt to capitalize on the growing demand for industrial space in the Jacksonville area, driven by e-commerce and logistics trends. As companies increasingly seek efficient distribution networks, properties like Center Point Business Park, with its high occupancy rate and diverse tenant mix, are likely to attract further interest from investors and tenants alike. Additionally, Merritt's plans for future development at Imeson Landing Business Park and Oakleaf Commerce Center, which could add approximately 269,400 square feet of light industrial space, indicate a proactive approach to meeting market demand.

Overall, this transaction reflects broader trends in the real estate sector, particularly in the industrial space, where demand continues to outpace supply in many regions. As Merritt Properties strengthens its position in Jacksonville, it is well-positioned to leverage its expanded footprint to meet the evolving needs of businesses in the area. The successful integration of Center Point Business Park into Merritt's portfolio will be closely watched as a bellwether for future investments and developments in the light industrial sector.