Patriot Transportation Holding subsidiary Florida Rock Properties purchased two existing commercial warehouse/distribution buildings totaling 303,000 square feet and an adjacent 8.75-acre building lot located in Newark, Del.
The value of the transaction was $11.4 million.
The properties were fully leased at the time of sale, and the adjacent lot will be held for future development.
The identity of the seller was not disclosed.
Florida Rock Properties Inc. acquires, constructs, leases, operates and manages land and buildings.
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