InLight Real Estate Partners submitted civil engineering plans to the city May 3 for four warehouse distribution buildings on almost 137 acres in North Jacksonville,
BGE Inc. of Jacksonville is the civil engineer for the plans, which comprise 884,000 square feet of space designed east of Eastport Road where Kraft Road connects from the west. The site is immediately south of a CSX rail line and also south of Faye Road.
Plans show four buildings of:
Building 1: 310,960 square feet
Building 2: 310,960 square feet
Building 3: 131,040 square feet
Building 4: 131,040 square feet
The overall site plan calls it Phase 1 of Zion Parcel 3A/3B for InLight Real Estate Partners of Ponte Vedra Beach. It is on the eastern part of the site.
Plans show trailer parking and bay spaces.
The zoning designation is industrial business park and intensive office/business park.
There are two Phase 2 development areas on the western side of the site.
Property records show that Zion Jacksonville LLC of Bronx, New York, owns the land.
The land had been the subject of a JEA service determination for InLight Real Estate Partners to determine the utility availability for “Project Z,” described as a 1.5 million to 2 million square-foot light industrial building on about 100 acres.
An email with the application described it as possibly a large bottling operation with high water and sewer demand needs.
JEA records show that project has been abandoned.
InLight Real Estate Partners Managing Partner David Burch said in November that project was “very preliminary and our understanding is that the potential project is considering multiple sites in multiple Southeastern states.”
At InLightRE.com, InLight Real Estate Partners describes itself as a full-service investment and development firm focused on industrial and logistics real estate across the Sunbelt, Midwest, East Coast and Gulf Coast markets.
In December, it announced it closed on the disposition of a last-mile industrial facility at 1030 Ellis Road N. in Northwest Jacksonville and reinvested the proceeds through a 1031 exchange into a four-property sale-leaseback with Woodsman Kitchens & Floors in Southside.
A 1031 exchange is a tax break on the swap of one real estate investment property for another that allows capital gains taxes to be deferred.
“Jacksonville is one of our key markets and where we are headquartered. We see the investment in the city firsthand every day and are confident that Jacksonville is well-positioned to continue growing as an industrial hub for many years to come,” Charles Margiotta, senior vice president of investments in InLight’s Ponte Vedra office, in a news release.
The news release said InLight has continued to rapidly expand its diverse portfolio since founding the company in 2021.
It said the Woodsman transactions marked the fifth investment in Jacksonville and 27th project overall.
The civil engineering plans come as first-quarter market reports show that North Jacksonville industrial warehouse vacancies range from 3.1% to 4.2%, below the area averages.