Original Article appeared in The Jacksonville Business Journal
Two New York-based firms swapped ownership of the Saddle Creek Logistics warehouse in South Jacksonville.
The warehouse at 12751 W. Gran Bay Parkway sold for $27.18 million Aug. 15 to Redfearn Capital, a private equity commercial real estate firm.
The 22.3-acre property, which includes 363,000-square-foot warehouse, is fully leased to Saddle Creek Logistics, an omnichannel, integrated supply chain company.
Constructed in 1997, the facility boasts 24-foot clear heights and 30 dock doors. The acquisition of this asset from Brookfield Properties adds to Redfearn’s expanding portfolio in the Southeast. Eastdil Secured represented Redfearn in the transaction.
“Expanding our presence in Jacksonville is a key strategic move for Redfearn as we continue to build a robust portfolio in one of the Southeast’s most dynamic logistics hubs,” said Alex Redfearn, Redfearn Capital founder and CEO, in a release. “This acquisition not only enhances our footprint in the region but also aligns with our long-term vision of investing in high-quality assets that drive value for our investors.”
This latest acquisition brings Redfearn Capital’s industrial holdings in the region to over 4.5 million square feet. Since its inception, the firm has closed on 67 properties throughout Florida and the Southeast, with total acquisitions exceeding $700 million.
New York-based Brookfield Properties, through G&I IX 12751 Gran Bay LLC, acquired the property in 2017 for $17.49 million.
