Speculative project in Northwest Jacksonville is along New Kings Road.
Lake Washington Partners submitted plans to the city Tuesday for its proposed 373,650-square-foot cross-dock facility on 25 acres at 10940 New Kings Road in Northwest Jacksonville.
The plans were filed for site owner J&J New Kings Road LLC, led by Lake Washington Partners.
President Jordan Lott said in December that Seattle-based Lake Washington Partners, which owns projects in eight states, works to maximize construction at optimal times within the market.
“We feel Jacksonville is primed for this type of development right now,” he said, noting Jacksonville’s tight industrial market and the area’s recognition by Forbes magazine last year as the fifth fastest-growing city in the country.
Kimley-Horn and Associates Inc. is the civil engineer.
Spokeswoman Katie Michals said in December there was no executed lease for the new facility, so the project will be built on a speculative basis. Lake Washington Partners will oversee project development.
Michals said the deal would be announced this year. She could not be reached Tuesday.
Lake Washington Partners bought the site, north of Interstate 295, in 2012.
The privately owned company declined to estimate its investment in the project. At an average $50 a square foot for such developments, the construction cost could reach $18.7 million.
Lake Washington Partners, founded by Lott, owns 8 million square feet of industrial and Class A office real estate in eight states — Florida, Arizona, Minnesota, Nevada, New Jersey, Ohio, Texas and Washington — with plans to invest in a ninth.
Lake Washington Partners also owns the 532,000-square-foot SanMar Distribution Center on an adjacent site to the proposed cross-dock center. That facility, owned through J&J Jacksonville LLC, distributes clothing.
Cross-docking is a logistics practice of unloading products from an incoming truck and immediately reloading into outbound trucks or trailers. For example, it can move products from a manufacturer directly to the customer with minimal handling and time.
A cross-docking facility is seen as a sorting center that requires less storage space than a distribution center. Goods often spend less than a day in the terminal. Industries that benefit are perishable goods, foods and beverages; inbound supplier components and raw materials; and packed and sorted products and parcels.