As Jacksonville’s warehouse market hovers at or below a tight 5 percent vacancy rate, Pattillo Industrial Real Estate intends to start construction of a 274,000-square-foot speculative warehouse at Westside Industrial Park as soon as the permit is issued.
The Westside Industrial Park building will be at 6282 Imeson Road.
Pattillo Senior Vice President Peter Anderson said construction should start by mid-January and the shell should be completed in May.
He said previously he was targeting tenants of at least 100,000 square feet and that the building is designed for no more than two users.
Pattillo doesn’t intend to stop there.
It then will consider a proposed 163,000-square-foot speculative warehouse on 13.6 acres in NorthPoint Industrial Park, Anderson said. There is no schedule for that.
Stone Mountain Industrial Park Inc., affiliated with Pattillo, proposes the NorthPoint building, which is shown in plans as Building 12A, on 13.6 acres at New Berlin Road and Port Jacksonville Parkway.
A site plan filed with the city Concurrency Management System Office shows a potential 54,000-square-foot expansion.
The developments, at $50 a square foot, would total about $24.5 million.
The JLL real estate company industrial insight report for the third quarter, which ended Sept. 30, said the market remained strong with “effectively zero available space for larger tenants.”
JLL said the only option is to develop more space.
A third Home2 Suites by Hilton is planned in Northeast Florida.
The St. Johns River Water Management District is reviewing plans for Peachtree Hotel Group of Atlanta to develop a four-story, 90-room Homes2 Suites by Hilton hotel.
The project is designed on 2.31 acres at 250 Outlet Mall Blvd. in St. Augustine in St. Johns County.
The hotel is planned in St. Augustine Center, a mixed-use development, according to Ingenium Enterprises Inc., a Tampa-based planning and engineering company.
Plans show the more than 57,700-square-foot hotel will include a covered patio and a pool.
Two Home2 Suites by Hilton hotels also are planned in Jacksonville.
Home2 Suites said previously a 104-room, five-story hotel should open in January 2019 at northeast Gate Parkway and Deerwood Park Boulevard.
A group led by hotel operator Kanti Patel bought the property in 2007. Patel previously estimated the investment at $14 million to $15 million.
Chaffee Point in West Jacksonville also is slated for a Home2 Suites by Hilton. Development partner Dhimant Soni in Lake City said in August his group will build a five-story, 90-room Home2 Suites after it completes a 110-room, five-story Courtyard by Marriott.
Home2 Suites by Hilton calls itself the innovative midscale, all-suite extended-stay hotel “designed for savvy, sophisticated, cost-conscious travelers staying a few months or a few nights.”
The online rate for two people to stay Tuesday night at the Destin location showed a cost of $99 to $109.
A Home2 Suites fact sheet says 158 properties are open. A location search on the Home2 Suites site finds 230 hotels of its brand in the U.S., including 11 in Florida in Destin, Gainesville, Lake City, Nokomis, Orlando, Pensacola, Tallahassee, Tampa, Florida City and two in Fort Lauderdale.
The first hotel of the brand opened in February 2011 in Fayetteville, North Carolina.
Home2 Suites offers complimentary breakfast; customizable guest room design; laundry and fitness areas; free Wi-Fi internet access; outdoor spaces; a 24-hour business center; expansive community spaces; and it’s pet-friendly.
