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Manulife Investment Management, alongside Harel Insurance Investments and Financial Services Ltd., has acquired Arcadia Jacksonville, a 333,728-square-foot cold storage facility in Jacksonville, Fla. The previous owner was Saxum Real Estate, according to CommercialEdge information.

JLL secured $68.3 million in financing for this acquisition. The five-year, fixed-rate loan was issued by an insurance company. Completed in 2024, Arcadia Jacksonville is located within Imeson Industrial Park in the North Jacksonville submarket. The facility is fully leased to Arcadia Cold Storage & Logistics, a major third-party logistics provider in North America.