A California real estate investment company bought two warehouses in Crossroads Distribution Center in Northwest Jacksonville on June 13 for a total of $53.5 million.
Crossroads Distribution Center is on the south side of Pritchard Road between Interstate 295 and Kings Road.
Link Logistics Real Estate of Fort Washington, Pennsylvania, sold both properties. Link was created in 2019 by Blackstone, a private investment company in New York.
JLL represented the seller to complete the sale to Bixby Land Co.
Building 100
Bixby Capital Management, of Newport Beach, bought the 297,000-square-foot Building No. 100 at 6590 Pritchard Road for $38.724 million through Bixby Land Co.
The warehouse, built in 2019, sits on 75.25 acres. It is 250 feet wide and 1,200 feet long with 32-foot ceilings. It has 197 parking spaces.
Link sold the property through BCORE Crossroads Owner LLC.
Building 200
Bixby bought the 126,480-square-foot Building No. 200 at 6600 Pritchard Road for $14.776 million, also through Bixby Land Co.
Link sold it through WPT Pritchard Road LP.
The warehouse, built in 2009, sits on 19.95 acres. The building is 200 feet wide and 620 feet long with 30-foot ceilings. It has 114 parking spaces.
About Bixby
According to its website, Bixby says it its a privately held REIT with nearly $2 billion in assets under management. According to its map of properties, Jacksonville would be its only properties in Florida. It has four properties in Georgia: three near Atlanta and one in Pooler near Savannah.