Pattillo Industrial Real Estate is launching development of a speculative warehouse at 6040 Imeson Road in West Jacksonville, one of the city’s largest industrial markets.
The city is reviewing permit applications for the foundation and construction of a 172,867-square-foot center at a cost of $15.4 million.
“We are starting construction immediately,” Pattillo Vice President Peter Anderson said Dec. 5.
He said the building is designed for multiple tenants. A Pattillo brochure show it is divisible for tenants of at least 40,000 square feet,
Dana B. Kenyon Co. is the contractor.
The structure is called Imeson Road Building 2. It is available for manufacturing, distribution and warehouse tenants.
It is one of two speculative warehouses that Pattillo plans at the site at northwest Imeson and Pritchard roads. They total almost 500,000 square feet of space.
Anderson said previously the speculative buildings are planned on the parcel next to the BMW regional parts distribution center.
Building 3 is a proposed almost 298,000-square-foot warehouse at 5800 Imeson Road. Anderson said that will be developed as the market demands.
The property is part of Westside Industrial Park, which Pattillo affiliate Stone Mountain Industrial Park developed. Atlanta-based Stone Mountain Industrial Park owns the property where the two structures will be developed.
Distribution space is in demand by shippers, retailers, manufacturers and e-commerce fulfillment centers.
Industrial vacancy rates in Jacksonville average a tight 4%.
The Northeast Florida market comprises up to 110 million square feet of industrial, warehouse and manufacturing space.
The largest concentrations are in Westside, with up to 49 million square feet; North Jacksonville, with at least 27 million; and South Jacksonville, at up to 22 million square feet of that space.
Northeast Florida market reports show that up to 4 million square feet of space is under construction, and most of that will be fully leased by the end of the third quarter of 2022.