**Manulife Investment Management Acquires Jacksonville Cold Storage Facility**
Manulife Investment Management has led an investor group in the acquisition of a newly completed, state-of-the-art cold storage facility in Jacksonville, Florida. The 333,728-square-foot property was previously owned by Saxum Real Estate.
The acquisition was supported by $68.3 million in financing arranged by JLL. The JLL Capital Markets team representing Manulife Investment Management included Melissa Rose, Michael Klein, Wells Waller, Nicole Barba and Preston Bacon.
Known as Arcadia Jacksonville, the facility reached completion in 2024. Strategically located within Imeson Industrial Park in North Jacksonville, the property is fully leased to Arcadia Cold Storage & Logistics, a leading third-party logistics provider specializing in temperature-controlled supply chain solutions throughout North America.
Saxum Real Estate originally broke ground on the build-to-suit facility at 9765 N. Main Street in 2023, financing its development with a $76.8 million construction loan from Commerce Bank of Kansas City.
This transaction marks another significant investment in high-demand cold storage infrastructure amid continued growth in food logistics and supply chain sectors.
