Jacksonville industrial buildings trade hands
JLL Capital Markets led the sales efforts for the two 100% leased, Class A buildings
MIAMI, June 19, 2024 – JLL Capital Markets announced today that it completed the sale of Crossroads Distribution Center Buildings 100 and 200, two, fully leased, Class A industrial buildings totaling 423,056 square feet in Jacksonville, Florida.
JLL worked on behalf of the seller to complete the sale to Bixby Land Company.
The distribution center is situated immediately adjacent to the interchange of I-295, which serves as Jacksonville’s beltway and offers exceptional connectivity to the port, airport and downtown. Crossroad’s strategic location also provides tenants rapid access to dense population centers in Florida and the entire Southeast U.S.
Additionally, Crossroads is located within the Westside submarket, the most sought-distribution node in Jacksonville, featuring dense institutional ownership and credit tenancy. According to JLL’s research, the submarket accounted for 24% of total inventory with 38 million square feet.
The JLL Capital Markets Investment Sales and Advisory team was led by Luis Castillo, Cody Brais, Britton Burdette, Luke Pope and Taylor Osborne.
“We continue to see strong demand from investors for opportunities in Jacksonville as the leasing fundamentals for the port market continue to outperform,” said Castillo.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Bixby Land Company
Bixby Land Company is a leading commercial real estate owner, operator, and investment manager with over $1.5 billion of assets under management. The Company develops and invests in industrial, office, and R&D properties throughout the United States. For more than 125 years, Bixby Land Company has been committed to adding value for its shareholders and investors. To learn more, visit bixbyland.com.