Jacksonville has made it to the top of another list.
In the August issue of Expansion Management magazine, the city is ranked as one of the Top 40 Hottest Real Estate Markets for Business 2002 and is highly ranked in many of the Top 10 subcategories that comprise the overall ranking.
In the subcategories, Jacksonville ranked:
• First for Highest Vacancies for Industrial/Warehouse Space.
• Eighth for Lowest Rents in the Central Business District.
• Eighth for Lowest Rents in Suburban Offices.
• 10th for Highest Vacancies in the Central Business District.
The monthly business magazine based the rankings upon a compilation of data from four major sources:
• The National Real Estate Index, which provided information on rental rates for central business district (CBD), suburban and industrial space.
• C.B. Richard Ellis and Grubb & Ellis, both of which provided data on rental and vacancy rates for CBD, suburban and industrial space.
• RS Means, publisher of the annual Construction Cost Estimator, which compares the cost of material, labor and equipment among various cities across the United States.
The article cited the recent announcement of Fidelity National Financial Inc. to relocate its corporate headquarters from Santa Barbara, Calif., to Jacksonville as an example of the diverse selection of real estate options in the area.
Overall, the larger metropolitan location, the access to a highly skilled and educated work force, the proactive business environment and the cost of living and housing make Jacksonville an attractive location for our corporate headquarters and employees,” said William P. Foley II, chairman and CEO of Fidelity.