St. Johns County issued six permits May 31 for interior build-out totaling 14,154 square feet at IGP 95/Logistics Park at World Commerce Center.
The project comprises three warehouses.
The 43-acre site is off Interstate 95, about 2.3 miles southwest of Buc-ee’s, east of International Golf Parkway and across from Tocoi Creek High School.
Foundry Commercial and Barings are development partners in the project.
Foundry is an Orlando-based real estate company. Barings is an international real estate investment manager.
Construction is expected to be completed in August, according to Mark Scott, Foundry Commercial partner in Jacksonville.
Miller Construction Co. began site work Jan. 29.
Building 100 at the logistics park is 193,600 square feet; Building 200 is 205,700 square feet; and Building 300 is 110,600 square feet.
“St. Johns County, with its growing population and need for services, is underserved,” Scott said in August 2023.
Construction on the three buildings at IGP/Logistics Park is expected to be completed in August.
There are no signed tenants, he said May 22, but discussions are ongoing. He declined to specify the potential lessees.
Moses Solicdo, a principal and managing director at Foundry Commercial, anticipates high demand as St. Johns County develops.
“In new markets like St. Johns County, where industrial space is limited, larger users typically move in before smaller ones,” he said. “As more residences are built, you’ll see more demand for this type of project.”
TR WCC Property Owner LLC, managed by Barings LLC in Charlotte, North Carolina, bought the site for nearly $12.95 million on Aug. 31, 2022.
The project team includes C4 Architecture, The Avanti Group for structural engineering and Matthews Design Group as the civil engineer.
