A joint venture between East Capital Partners and Tranview Capital has sold an eight-building, multitenant industrial portfolio in Jacksonville for $35 million. The 230,000-square-foot Airport Jax Small Bay Portfolio was reported to be 92% leased at the time of the transaction, reflecting a largely stabilized occupancy profile at closing. Following the sale, the complex is being rebranded as InSpace at Jax, signaling a refreshed identity for the industrial park under its new ownership.
The portfolio consists of small-bay warehouse product and is organized across eight buildings, positioning it to serve a diverse roster of industrial and business services users. The assets are located at 14475 Duval Place West in Jacksonville’s Northside industrial submarket, an area that has seen sustained tenant demand. The property is situated less than one mile from Interstate 95 and approximately 2.5 miles from Jacksonville International Airport, providing direct access to regional transportation routes and air cargo infrastructure.
A CBRE investment sales team led by Kyle Fisher and Kyle Murphy represented the joint-venture sellers in the disposition. NorthBridge Partners emerged as the buyer of the Airport Jax Small Bay Portfolio, adding the Northside assets to its industrial holdings. The transaction demonstrates ongoing participation by institutional and private equity investors in smaller-bay industrial product, particularly in logistically connected submarkets.
The portfolio is home to 45 tenants spanning a range of industries, underscoring the asset’s multi-tenant configuration and diversified cash flow base. This tenant mix reduces reliance on any single occupant and reflects the broader composition of demand in the small-bay industrial segment. The combination of near-full occupancy and a broad user mix positions the property as a representative example of infill industrial inventory in the Northside area.
According to CBRE Research, Jacksonville’s Northside industrial submarket recorded approximately 1.3 million square feet of leasing activity during the second quarter. Across the wider Jacksonville industrial market, CBRE reported nearly 583,000 square feet of positive net absorption alongside declining vacancy levels over the same period. These fundamentals frame the sale of the Airport Jax Small Bay Portfolio within an environment of continued tenant expansion and tightening available space, particularly in proximity to key transportation corridors and the international airport.
Taken together, the sale, high occupancy at closing, and recent leasing metrics point to a market where both user demand and investor interest remain active. The rebranding to InSpace at Jax under new ownership occurs against a backdrop of growing industrial activity in Jacksonville’s Northside, with logistics connectivity and diversified tenancy continuing to support investor appetite for similar warehouse assets.
