Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Crawford Diamond Industrial Park at the intersection of Woods Ln and Crawford Road Ext in Callahan (the “Property”). This 51.84-acre site is adjacent to two intersecting railroads: the Callahan Subdivision and the Valdosta District Lines. Located approximately 4.6 miles south of the Town of Callahan, this park is on the Northwest Loop around Jacksonville (US-Highway 301 and SR-200) in Nassau County, which provides easy access to both I-10 and I-95 and SR-23 for a direct road into Jacksonville’s Northside and I-295. From a development standpoint, this parcel is next to the Crawford Diamond Industrial Park, owned by FP&L, which is 400 acres on industrial use land powered by 1,300 acres of solar generation. Water / Sewer facilities are expected to be complete in July of 2024, while an electrical substation has been recently completed; both located within half a mile of the site. This park is zoned heavy industrial and has approximately 18.9 acres of wetlands, as estimated by Kimley Horn, leaving 32.94 acres of buildable land for development. Nassau County has historically been an agricultural county to the North of Jacksonville, primarily owned by Rayonier, a timberland REIT, (~144,000 acres owned in Nassau). With the development of Wildlight, a master-planned residential community, residential growth is expected to move West towards Callahan over the next ten years, fueling consumption and therefore industrial demand through the area. Nassau County is expected to become a prime growth area comparable to St. John’s County. Nassau County currently zones a very small amount of land as industrial (approximately 2,200 acres), which offers developers and investors a deep moat around their investment, limiting competition. This offering alone composes roughly 2.3 percent of the entire industrial land in Nassau County. Jacksonville is the Bold New City of the South, with 1 million residents and a diversified economy built on healthcare, logistics, and finance anchored by the United States Navy and JAXPORT. The intersection of I-95 and I-10 makes this city a natural distribution center for the Southeast and a hub for talent. There is currently 145 million square feet of industrial inventory in Jacksonville, an increase of 17.7 percent since 2017. These changes have used up nearly all the developable land in Duval County, necessitating future development in outlying counties like St. Johns, Nassau, and Clay.