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

Acquisition Marks the Largest in Company History and the First Major Transaction Since Its Centerbridge-Led Investment

JACKSONVILLE, Fla., July 23, 2026 /PRNewswire/ -- Merritt Properties has acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial park in Jacksonville's Butler Corridor, marking the largest acquisition in the company's history. The deal nearly doubles Merritt's Jacksonville footprint and is the first major transaction announced since the company secured a $750 million investment led by Centerbridge Partners to accelerate its long-term growth strategy.

With Center Point Business Park, Merritt's Jacksonville portfolio now totals approximately 1.13 million square feet across five business parks, including Imeson Landing Business Park, Merritt at Gate Parkway, Magnolia Park and Beach Commerce Center.

"This acquisition is a defining moment for our company," said Bobby Lanigan, president of Merritt Properties. "It reflects our commitment to strengthening and diversifying our portfolio in strategic markets. Adding Center Point gives us meaningful scale in Jacksonville and enhances our ability to serve customers across the region."

Located at 4801-6631 Executive Park Court, the property is approximately 1.2 miles from Interstate 95 and one-half mile from the Florida East Coast Railway, providing last-mile connectivity throughout the market.

The park is 99% leased to 35 tenants representing a diverse mix of industries. The property features 18- to 22-foot clear heights, rear-load configurations, dock-high loading in most suites, concrete tilt-wall construction, 107 dock doors and 1,005 parking spaces. The average tenant occupies approximately 15,100 square feet.

"Center Point Business Park is an outstanding addition to our Jacksonville portfolio," said Pat Franklin, regional director of Merritt Properties' Florida office. "Its location, quality and diverse tenant base make it an excellent fit for Merritt. We look forward to building on the property's success through our hands-on approach to leasing, property management and ownership."

In addition to its existing portfolio, Merritt owns land at Imeson Landing Business Park and Oakleaf Commerce Center, where future light industrial development is planned. Together, those projects could add approximately 269,400 square feet, further expanding the company's presence in Northeast Florida.

Merritt Properties acquired Center Point from Plymouth REIT. Royce Rose and Justin Rabin of CBRE National Partners represented the seller in the transaction. Legal counsel for Merritt Properties was provided by Gunster, with Spencer Cummings and Cassidy Bergstrom leading the firm's representation.

For more information about Center Point Business Park, visit Merritt-CenterPoint.com.

About Merritt Properties

Established in 1967, Merritt Properties is a privately held commercial real estate company offering a portfolio of more than 21 million square feet of Class A office, flex, warehouse, industrial, retail and build-to-suit properties throughout Maryland, North Carolina, Florida and Virginia. Capabilities include leasing, property development and management, and financing. Merritt Properties is committed to "Creating Homes for Businesses" and providing the highest quality service to its customers. For more information, visit www.merrittproperties.com.  

SOURCE Merritt Properties, LLC