Florida & Gulf Coast + North Florida + Industrial | March 2, 2022

JLL has closed the sale of Crossroads Building 300, a new, Class A, fully leased, 235,200-square-foot industrial building in Jacksonville, FL

Principal Real Estate Investors Buys New, Net Leased Industrial Building in Jacksonville

JLL has closed the sale of Crossroads Building 300, a new, Class A, fully leased, 235,200-square-foot industrial building in Jacksonville, FL. The property is net leased to two tenants, Cartparts.com and Drummond Press, Inc.

A JLL team of Britton Burdette, Luis Castillo, Mitchell Townsend, Cody Brais and Luke Pope represented the private seller. Principal Real Estate Investors, the real estate investment team for Principal Global Investors, acquired the asset.

The property was developed by the seller and completed in 2022. Its location within the Crossroads Distribution Center has immediate access to Interstate 295 and proximity to Interstates 10 and 95.

The center is within the Westside industrial submarket, which according to JLL had a vacancy of 4.3 percent at the end of the fourth quarter of 2021 that has contributed to the growth in direct asking rents seen over the last year.

Connect

Inside The Story

JLL

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

Order Reprints