JACKSONVILLE, FL-CB Richard Ellis Realty Trust is paying more than $70 million for three buildings along Florida’s east coast. The all-cash acquisitions include a new local distribution center for Dr Pepper Snapple Group Inc. and two single-tenant office buildings in Miramar that were built nearly a decade ago.

Princeton, NJ-based CBRE Realty Trust paid $29 million at an 8.2% cap rate for the 601,500-square-foot industrial warehouse at West Point Trade Center, 2300 Pickettville Road. Dallas-based Hillwood Investment Properties developed the build-to-suit project for Dr Pepper, which consolidated its Jacksonville-based regional distribution into a single building.

Dr Pepper’s lease at West Point expires in 2019. CBRE Realty Trust also owns a distribution center in the Jacksonville market, leased to Unilever, by way of a joint venture with Duke Realty Corp.

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