Heritage Capital Group Announces Sale of MBRE Warehouse

News provided by

Oct 09, 2023, 08:41 ET

JACKSONVILLE, Fla., Oct. 9, 2023 /PRNewswire/ -- Heritage Capital Group, Inc., an investment banking and financial advisory firm serving middle-market and emerging growth companies in the US and worldwide, is pleased to announce that MBRE has sold real estate to The Suddath Companies. Steel Beach Advisors, LLC, the real estate and business brokerage affiliate of Heritage Capital Group, executed the transaction on behalf of its client, MBRE.

MBRE has sold a 108,000 sqft warehouse to Suddath.

MBRE has sold a 108,000 sqft warehouse on Beaver Street, located near downtown Jacksonville, Florida. The City of Jacksonville occupied 48,000 sqft of the warehouse and the remaining 60,000 sqft was a surplus warehouse for Load King and MBRE.

Load King began as an equipment consolidator and manufacturer in Jacksonville, Florida in the 1950's, and now designs, fabricates, delivers, and installs branded kiosks, restaurants, and physical stores for food and retail corporations and franchises. Load King operates from 212,000 sqft of manufacturing and office facilities located at 1357 W. Beaver St.

Founded in Jacksonville, Florida in 1919, Suddath is an $800M+ global transportation, relocation management, specialized logistics, and workplace services company, serving 180 countries with 2,000 employees around the globe.

The deal team was led by Bill Nicholson and included Doug Kravet and Howard Serkin. The terms of the transaction were not disclosed.

"Heritage was instrumental in achieving my goals of an expeditious and clean transaction," commented Charles Chupp, a long-time client of Heritage's and owner of MBRE. "Bill Nicholson, Doug Kravet, and Howard Serkin provided excellent advice throughout the process."

Heritage Capital Group provides objective advice to private companies in the areas of mergers, acquisitions and divestitures, business valuations, debt and equity capital raises, corporate restructurings, and financial and strategic advisory services focused on enhancing the value of business enterprises. Heritage Capital Group is a FINRA registered broker-dealer, and a member of Oaklins, the world's most experienced mid-market M&A advisor, with 850 professionals globally and dedicated industry teams in 45 countries worldwide.

Media Contact:
Katie Quackenbush
904-354-9600

SOURCE Heritage Capital Group