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Alternative investment firm Stonepeak, specializing in infrastructure and real assets, has acquired nine logistics properties totaling 1.8 million square feet near the Port of Jacksonville in Jacksonville, Fla.

This shipping market continues to see positive demographic trends and upgrades. The port is investing more than $1 billion over the next five years to improve access and utilization of this critical transport infrastructure, which lifts 1.3 million 20-foot equivalent units (TEUs) annually.

CSX, Norfolk Southern and the Florida East Coast Railway are key railroad infrastructure support systems for the port’s traffic.