May 13, 2026 – Philips Highway Industrial Park is a 10-building, 106,643sf portfolio in the Southside submarket of Jacksonville, FL, the preeminent industrial market in Jacksonville. The 94% occupied portfolio features an average suite size of 4,300sf, 16’-20’ clear heights, masonry and block & metal construction, and a mix of dock-high and drive-in loading. It sits at the confluence of major national and regional thoroughfares, creating ease of access for tenants to reach a wide service area.
The property was acquired off-market, with CenterSquare’s proactive, relationship-oriented approach ultimately securing the investment opportunity. The business plan contemplates rebranding the industrial park, freshly painted exteriors, updated signage, and completing deferred maintenance including roof and asphalt repairs, while marking rents to market.
“Philips Highway Industrial Park exemplifies CenterSquare’s conviction in the Service Industrial sector and underlines our fundamental approach to acquiring functional, well-located real estate,” said Brian Stutz, of CenterSquare’s Private Real Estate team. “Our data-driven approach allows us to proactively identify opportunities and move quickly to secure those that fit our Service Industrial buy-box.”
This transaction is the third Essential Service Industrial investment in CenterSquare’s latest Value-Added Fund, bringing our total service industrial portfolio to more than 1.8 million square feet. As the second Essential Service Industrial acquisition in Jacksonville in our Fund series, this investment reinforces our strong conviction in both the Jacksonville market and our ESI thesis.
