Bixby Acquires Crossroads Buildings in Jacksonville, Florida
NEWPORT BEACH, CA – July 3, 2024 – Bixby Capital Management, a subsidiary of Bixby Land Company, a leading real estate investment firm, headquartered in Newport Beach, California, has announced the acquisition of Crossroads Buildings 100 & 200, two premier Class A warehouse and distribution facilities situated in Jacksonville, Florida. Developed in 2009 and 2019 respectively, these buildings collectively span 423,056 square feet and are positioned on 95.3 acres within the thriving Jacksonville industrial market.
Both buildings feature rear-load configurations, clear heights ranging from 29 to 32 feet, ESFR sprinkler systems, and deep concrete truck courts measuring between 130 and 185 feet. Strategically located near major transportation arteries including I-295 and I-10, the properties are positioned within the highly sought-after Westside submarket, enhancing logistical efficiency and connectivity for tenants.
The portfolio is currently fully leased to three high-quality tenants, underscoring the attractiveness and stability of the investment. This acquisition marks Bixby’s inaugural entry into the Florida market, marking a significant milestone in the firm’s strategic expansion efforts into new port-centric regions.
"We are thrilled to add Crossroads Buildings 100 & 200 to our portfolio," said Lexi Geiger, Director of Acquisitions at Bixby. "This acquisition not only strengthens our presence in the Southeast but also underscores our commitment to investing in high-quality assets in key logistics hubs."
JLL Capital Markets Capital Markets Investment Sales and Advisory team represented both the seller and Bixby Land Company to complete the transaction. The JLL team was led by Luis Castillo, Cody Brais, Britton Burdette, Luke Pope and Taylor Osborne.
"Jacksonville has emerged as a highly sought-after market for industrial investors as a result of the market’s recent and forecasted fundamental performance,” said Brais. "With this transaction, Bixby has entered a coveted sub-market recognized for great access, neighboring institutional ownership, and a strong fortune 100 tenant base."
For more information about Bixby and its investment strategies, please visit www.bixbyland.com.
About Bixby
Bixby Capital Management 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 over 125 years, Bixby has been committed to adding value for its shareholders and investors. To learn more, visit www.bixbyland.com
Debbie Heinze
Bixby Land Company
+1 949-336-7028
email us here
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