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.
Attachments
Disclaimer
Jones Lang LaSalle Inc. published this content on 19 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 June 2024 20:10:18 UTC.
