Los Angeles-based Cannon Commercial Inc., a private real estate investment and management company, bought the former Winn-Dixie Stores Inc. headquarters and distribution center on Edgewood Court in West Jacksonville for $36.4 million.
Through JKFL Industrial LLC, Cannon bought the property at 5050 Edgewood Court on Dec. 11 from ZSF/WD Jacksonville LLC, which is in care of Zurich Alternative Asset Management LLC of New York City.
ZSF/WD Jacksonville LLC, then affiliated with Euclid Warehouses Inc. in New York City, bought it in 1999 for $40.79 million from Sunbelt-Dix Inc., based in New York.
It appears that Winn-Dixie Stores Inc. and First Union National Bank sold it in 1988 to Southeast Dix Properties Inc., which internally conveyed it to Sunbelt Dix Inc.
The property comprises 891,262 square feet of office and industrial space among seven buildings on 57.7 acres. Those include parking lots and vacant land.
The properties were built from 1952-99, anchored by Winn-Dixie. The site is at southwest Edgewood Avenue and Beaver Street. It is north of Interstate 10.
But the hometown grocery store hasn’t been based there for years. The headquarters moved to Baymeadows in 2016, after a merger that created Southeastern Grocers, and the distribution operations are in leased space in far West Jacksonville.
And Aldi has since bought Southeastern Grocers, with the deal closing in March 2024. Aldi has said it would maintain those Baymeadows operations.
The Jacksonville-based Winn-Dixie moved to town in 1944 as the Winn & Lovett Grocery Co. Corporate records show it operated along West Beaver Street before moving to 5050 Edgewood Court by 1954 and changing its name to Winn-Dixie Stores Inc. in 1955.
Cannonmgt.com says Cannon’s investments under management and integrated joint venture properties comprise a diversified real estate portfolio including, office, retail, multifamily and industrial assets.
It says the portfolio “projects an assembly of bold assets which vary across the investment spectrum, and include core-stabilized to distressed assets acquired for revitalization.”
Principals did not immediately respond to an email for comment.