More industrial space is hitting the market as the city’s low vacancy rates below 4% drive developers to build more warehouses to meeting increasing demand.
The city issued a permit April 22 for foundation construction for Park 295 Building D, a 435,943-square-foot warehouse center at 2845 Ignition Drive in Northwest Jacksonville.
James R. Vannoy & Sons Construction Co. Inc. of Jefferson, North Carolina, is the contractor for the project on 23.19 acres.
The permit shows a foundation cost of $2.9 million.
Park 295 Two Owner LLC of Riverside, Missouri, is the developer. StudioNorth Architecture, also of Riverside, is the architect.
The city also is reviewing the foundation permit for the 217,268-square-foot Building E at a cost of $1.53 million on 12.32 acres.
The 175-acre Park 295 has 139 developable acres and plans about 1.7 million square feet of industrial development among five buildings.
It is at southwest Interstate 295 and Duval Road, near Jacksonville International Airport.
Newmark Phoenix Realty Group represents the developer. A Newmark brochure says that Buildings D and E will be delivered for tenant build-out in the fourth quarter of 2022.
