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Jax Daily Record Tuesday, Apr. 26, 202205:00 AM EST

Liberty, Salisbury business parks adding warehouses

Plymouth Industrial REIT files plans for four centers in the South Jacksonville properties.

As developers move to add warehouse space in Jacksonville, another is advancing plans for four buildings in Southside.

Much of the new warehousing is coming to North and West Jacksonville, so a Southside expansion adds space in another part of the market.

In South Jacksonville, Boston-based Plymouth Industrial REIT Inc. is submitting plans to the city for three Liberty Business Park warehouses, totaling 134,902 square feet, and one in Salisbury Business Park.

The properties are near Interstate 95 and Butler Boulevard.

Dan Santinga, Plymouth Industrial REIT Inc. vice president and regional manager, said April 25 the developer has submitted plans to the city.

“ At this time, our plan is to deliver the buildings Q1,” he said.

England, Thims & Miller Inc. is the civil engineer.

Salisbury Business Park is gaining a 40,572-square-foot building.

In February, the city issued four mobility fee calculation certificates to mitigate the traffic impact for:

• A 40,572-square-foot building on 25.27 acres at 7254 Salisbury Road in Salisbury Business Park. The mobility fee is $15,178. The park is at southeast Belfort and Salisbury roads, east of Interstate 95.

• The 42,667-square-foot Building F on 15.41 acres at 7020 AC Skinner Parkway in Liberty Business Park. The fee is $30,126. Liberty Business Park is at southeast AC Skinner Parkway and Belfort Road.

• The 39,315-square-foot Building H on 9.69 acres at 4901 Belfort Road in Liberty Business Park. The fee is $29,896.

• The 52,920-square-foot Building J on 5.34 acres along Belfort Road in Liberty Business Park. The fee is $38,405.

In November, Santinga said Plymouth Industrial intends to build a new dock-high building at Salisbury Business Park and three dock-high buildings at Liberty Business Park.

“The demand for flex-industrial tenants seeking 10,000 square feet or more in the Butler corridor is high, so these buildings will be good options for new or expanding tenants who want to be in this submarket,” Santinga said.

Santinga said that upon completion, both parks will be fully built-out.

Liberty Business Park comprises seven buildings totaling 481,751 square feet, ranging from 39,350 to 92,872 square feet. The three new buildings take that to 616,653 square feet,

Salisbury Business Park is 168,800 square feet among three buildings. The new warehouse boosts that to 209,372 square feet,

Boston-based Plymouth Industrial REIT Inc. paid $97.1 million in December 2018 for the Liberty Business Park, Salisbury Business Park and Center Point Business Park. 

Those three light industrial and flex properties comprise 20 buildings and 1,133,516 square feet of space.

Santinga said the project completions will increase those parks to almost 1.31 million square feet.

He said Liberty Business Park is 91% leased with a 39,350-square-foot office building available for lease.

Salisbury Business Park is fully leased.

Plymouth also paid $20.4 million for 289,850 square feet of space in September 2020 at 8451 Western Way, boosting the eventual total portfolio in Jacksonville to about 1.6 million square feet. The Western Way building is fully leased.

Plymouth handles the leasing and property management directly. 

“We have targeted Jacksonville for some time and coveted a meaningful presence that gives us immediate scale, infill locations and a mix of light industrial and flex buildings to accommodate a wealth of tenants,” said Pendleton White Jr., Plymouth president and chief investment officer, upon buying the initial portfolio.

“We think this particular location could not be any better,” he said.

He cited the businesses moving into the area as well as the thousands of apartments being developed in the vicinity.

White referred to the location as the “State and Main” of the area because of its central location of traffic corridors and access to jobs, housing and amenities.

He said there is not a lot of land left for development of flex and light industrial space in the I-95 and Butler Boulevard area, which makes the properties attractive to tenants.

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