Brookfield Properties is adding a nearly 200,000-square-foot speculative warehouse in North Jacksonville at a project cost of almost $12.7 million.
The city issued a permit May 19 for the shell warehouse on 11.9 acres at 11096 Cabot Commerce Center Circle, north of Cabot Commerce Circle and west of Blasius Road. The property is east of Interstate 295.
ARCO Design/Build of Jacksonville is the contractor for the 199,250-square-foot building called Alta Lakes II Commerce Center. The business park is at southwest Faye and Blasius roads, east of Interstate 295.
Ware Malcomb, a commercial real estate design firm based in Irvine, California, is the agent.
The project has been in process for almost two years.
City utility JEA issued a service availability determination letter July 18, 2024, for development of the proposed warehouse, called Cabot Commerce Center.
On Nov. 1, 2024, the city issued a mobility fee calculation certificate for the project, called Brookfield Commerce, described as 199,260 square feet on 15.4 acres. It calculated a mobility fee of $87,189 to mitigate the development impact.
The St. Johns River Water Management District issued a permit Dec. 27, 2024, to G&I IX Alta Lakes Land LLC of Atlanta for the construction and operation of a stormwater management system for an 11.68-acre project called Alta Lakes II Commerce Center. That master site plan showed a 199,260-square-foot warehouse.
G&I IX Alta Lakes Land LLC is led by Brookfield Properties, which is based in New York with offices in Atlanta.
England, Thims & Miller Inc. of Jacksonville is the civil engineer. Peacock Consulting Group LLC of Jacksonville is the environmental consultant.
The project acreage is that remaining from a sale in summer 2024.
Through FIVF-III-FL5 LP, industrial real estate asset manager Faropoint of New Jersey bought five industrial properties Aug. 15, 2024, in a deal totaling $63 million from Brookfield Properties.
The properties comprised four completed buildings built in 2008 and one storage lot in Alta Lakes Commerce Center.
Brookfield retained the property where the new warehouse is planned.