The California-based CT Realty partnership that bought a 251-acre Westlake Industrial Park site filed plans that call it the Florida Gateway Logistics Center.
DRI/CTR Jax Phase I LLC applied May 25 to the St. Johns River Water Management District for review of the proposed project along Pritchard Road.
Those plans show a first phase of three buildings totaling almost 1.72 million square feet. Those comprise a 1,000,350-square-foot warehouse along with 416,000- and 300,240-square-foot centers.
Acreage is identified for five more buildings.
DRI/CTR Jax Landco LLC is a co-applicant.
Both applicants are based in Newport Beach, California.
Terracon of Jacksonville is the environmental consultant. England-Thims & Miller Inc., also of Jacksonville, is the civil engineer.
A partnership of CT Realty and Diamond Realty Investments LLC plans to develop 3.2 million square feet among eight buildings on property purchased April 29.
CT Realty said it will be the largest speculative industrial development in Jacksonville.
CT Realty CEO James C. “Watty” Watson said May 10 the first phase of three buildings will be completed for leasing in the second quarter of 2022.
He said Evans General Contractors has started initial site work. Vertical construction will start on or about Aug. 1.
He cites Interstates 10 and 95, the railroads and JaxPort as reasons for identifying Jacksonville as a distribution hub.
“Our business is catering to the largest industry tenants, particularly growth fueled by e-commerce,” Watson said.
The second phase will follow based on market demand. It will comprise almost 1.5 million square feet among five buildings of 250,000 to 425,000 square feet.
Watson said the first phase structures will be built simultaneously. No tenants have been signed.
Watson said JLL is the leasing broker, led by Managing Director Luke Pope.
DRI/CTR JAX Phase I LLC bought the vacant land from Southeast Toyota Distributors LLC of Deerfield Beach for $19.5 million. The sale was recorded May 10.
Watson said the land is next to the Southeast Toyota facility.
Watson said Colliers International Executive Director Guy Preston and Associate Director Seda Preston represented the buyer and seller.
CT Realty is based in Newport Beach, California. CTR Logistics JAX LLC is the manager of the Florida LLC.
Watson said Diamond Realty Investments is the U.S. investment subsidiary of Mitsubishi Corp. Mitsubishi is headquartered in Tokyo and the U.S. office is based in Dallas.
