Industrial tenants looking for a building in Jacksonville don’t need to look far.
Real estate firms say Jacksonville’s industrial market continues to grow at a strong pace.
For the first quarter, which ended March 31, Colliers International said new industrial construction “is finally starting to hit the market, with roughly 1 million square feet of additional space coming online in 1Q19.”
That leads to a higher vacancy rate, but Colliers said advisers aren’t concerned because that rate has been low for almost 18 months. The 3% rate was lower than the national average of 4.9%.
CBRE reported a higher rate, 4.2%, but said that was down from 4.9% the year before.
Here are a few of the recent projects:
The city issued a permit for Dana B. Kenyon Co. to build a 277,760-square-foot speculative warehouse at 12090 New Berlin Road in North Jacksonville at a cost of $7.2 million. It’s on Site 12B. Pattillo Industrial Real Estate is developing the building it its NorthPoint Industrial Park.
The city issued a permit for the $2.2 million addition for HVAC manufacturer and distributor TRUaire at 12128 New Berlin Road, an expansion on Site 12A in NorthPoint Industrial Park. Dana B. Kenyon Co. is the contractor for the 54,300-square-foot project.
Scannell Properties #335 LLC applied for permits to install utilities, foundation and slabs for the Freebird Center at 13225 Vantage Way at a cost of $1.7 million. Indianapolis-based Scannell plans to develop two buildings of 156,000 square feet and 117,890 square feet on 18.76 acres in North Jacksonville.
Chill Build Jacksonville LLC is ready to construct a $43.5 million Preferred Freezer Services facility in Northwest Jacksonville. The city issued a permit July 1 for DEEM LLC to build the 222,834-square-foot cold-storage facility for Chill Build Jacksonville on about 13 acres at 5459 Doolittle Road.
The city issued a permit for FCL Builders LLC to build Perimeter West Building One at 4345 Perimeter Industrial Parkway N. at northeast Interstate 295 and Pritchard Road in Northwest Jacksonville. The 155,820-square-foot shell building is under construction at a cost of $5.2 million on 22.29 acres in Perimeter West Industrial Park. Atlanta-based Rooker is the developer.