The South Jacksonville warehouse at 12751 Gran Bay Parkway just sold in a blockbuster deal, changing hands for $37.39 million and sending another clear signal that investors are still chasing logistics space on the Southside. The buyer is G3 Enterprises Inc., a Modesto, California based packaging and beverage logistics company, and the seller is New York based Redfearn Capital. Saddle Creek Logistics Services stays put as the long term operator on site.
As reported by Jax Daily Record, Redfearn sold the 349,670 square foot facility on 22.4 acres at 12751 Gran Bay Parkway to G3 on June 30, according to a company news release. The release said the building, home to Saddle Creek’s alcohol and beverage distribution operations, features 30 dock doors and 24 foot clear ceilings and is positioned to reach roughly 60 million customers within an eight hour drive. The article also noted the $37.39 million price tag represents nearly a $10 million gain over what Redfearn paid for the property in 2024.
Redfearn's Turnaround
Redfearn Capital acquired the warehouse in 2024 for about $27.18 million, according to the firm's postings. The company credits capital improvements and operational upgrades with driving roughly $10 million in added value during its hold period. "We were confident in the property's fundamentals," Alex Redfearn said in the release, per Jax Daily Record.
Why Investors Are Still Chasing Jacksonville Warehouses
Market watchers point to tight vacancy and steady rent growth across the metro's industrial submarkets as key reasons investor demand remains strong for well located distribution hubs. Those fundamentals have made leased, climate controlled facilities particularly appealing for buyers looking for immediate cash flow and operational flexibility. Cushman & Wakefield's Q4 2025 MarketBeat report highlights those pressures in the Jacksonville industrial market.
Buyer Profile And What Comes Next
G3 Enterprises Inc. manufactures closures and packaging for wine, alcohol and other beverages and has been expanding its 3PL and contract packaging footprint in recent months. The company operates AIB certified warehouse facilities and offers contract packaging and fulfillment services that could be scaled out of a Jacksonville distribution hub. G3 Enterprises did not respond to an inquiry submitted through its corporate site by publication time.
The sale underscores ongoing demand for mid sized industrial assets in Jacksonville and shows how owners who invest in upgrades can pull meaningful value on resale. For nearby employers and residents, the deal likely means business as usual at the Gran Bay property, since Saddle Creek remains the on site operator even as the deed changes hands. Reporters have requested additional details from Redfearn and G3 and will update this story if either company provides further comment.
