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Coach's Jacksonville Distribution Center Sold

Cushman & Wakefield

Handbag maker Coach Incorporated ships everything it sells in North America through a Jacksonville distribution center. Now, that center has a new owner.

Intercontinental Real Estate Corporation of Boston paid $90.5 million for the property, which is a record for the area.

In an exclusive interview, brokers Cushman & Wakefield said about 10 investors made an offer for the center, which had been on the market for about two months. 

Coach is the only tenant in the building, filling up its 850,000 square feet. The company has been there since 1994.

The distribution center is in the Jacksonville International Tradeport, home to a number of other big name tenants.

Timothy is editor in chief of the Jacksonville Business Journal.