Merritt Properties has broken ground on the third phase of Imeson Landing Business Park in north Jacksonville, Florida. The expansion adds three shallow-bay light industrial buildings totalling 126,500 square feet, expanding the park to 392,700 square feet. Concurrently, Merritt is advancing the second phase of its redevelopment project at Merritt at Gate Parkway, converting vacant offices into modern light industrial units.
Central Asian nations and South Korea have established a new industrial cooperation platform following an inaugural ministerial meeting in Seoul. Industry leaders gathered to discuss trade, technical infrastructure, critical minerals and artificial intelligence in manufacturing. The talks produced a joint memorandum on supply chains, along with a bilateral agreement between Uzbekistan and South Korea to set up a dedicated strategic mineral development platform.
Private equity real estate firm Longpoint Partners has bought a 10-building industrial portfolio across Miami-Dade County for $195 million. The deal adds 729,901 square feet of functional, small-bay industrial space in supply-constrained infill locations. Currently 90% occupied by 74 tenants, the portfolio was acquired at roughly $267 per square foot, strengthening the Boston-based firm’s long-standing presence and operational platform in South Florida.
KKR and its European logistics platform Mirastar have completed the £170 million acquisition of four UK industrial assets from developer PLP. The 1.25 million square foot portfolio includes properties in Stafford, Crewe, Ellesmere Port and Wakefield. The fully let developments feature rooftop solar panels, high environmental credentials and a weighted average lease term of 10 years to break.
Galvanize Real Estate has entered the Massachusetts market by acquiring the 360,000-square-foot Liberty Logistics Portfolio in Greater Boston. The three-building purchase expands the firm's US footprint to 3.2 million square feet. The company plans to modernise and decarbonise the assets through solar power, electrification and battery storage, aiming to reduce onsite emissions by 104%.
Industrial developer Panattoni has named Sharad Gohil as CEO and Managing Director of Panattoni India to drive its regional expansion. Gohil, the former head of IndoSpace Capital Asia, brings over 25 years of global real estate experience. He will lead the firm's growth across Indian logistics hubs, manufacturing corridors and emerging digital infrastructure markets, including data centres.
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