The city issued a permit Aug. 2 for Building 1 at the W. 12th/Edgewood Logistics Center at northeast Edgewood Avenue and West 12th Street at a job cost of almost $15.75 million.
The 156,033-square-foot building at 3415 W. 12th St. is one of two warehouses planned at the business park. The other is 96,000 square feet.
The Conlan Co. is the contractor for the projects in Northwest Jacksonville.
The second building is in review at a project cost of $7.5 million, for a total of almost $23.3 million for both.
Birmingham, Alabama-based Graham & Co. announced Aug. 24, 2022, it bought 21 acres to develop a two-building, 250,800-square-foot warehouse and distribution center.
Graham & Co. said it planned to break ground in early 2023 on the W. 12th/Edgewood Logistics Center. It said the acquisition is its third transaction in the Westside market since 2021.
“Jacksonville’s market fundamentals remain solid. We have had success in the Jacksonville market since the early 2000’s and believe this site has tremendous potential as an in-fill location,” said Graham & Co. Vice President Matthew Graham in a news release in August 2022.
Industrial vacancy rates in Jacksonville ranged from 3.1% to 5.6% as of June 30, 2023, real estate market reports show. Vacancies rose as more warehouses were built, while tenants continue to lease the newly completed space.
Graham & Co. said the site acquisition was initiated by Foundry Commercial Senior Vice President Mark Scott, who will be part of the team marketing the property for lease with Foundry Senior Vice President Andrew Hawkins and brokerage associate John Cole.
Scott said in the release that W.12th/Edgewood Logistics Center is a Class A project with a 32-foot clear height and ESFR (Early Suppression, Fast Response) sprinklers within a concrete tilt wall structure, which are industry factors for tenants and users seeking distribution center space.
He said the buildings are suited for tenants from 25,000 square feet to the full building.
The Conlan Co. and Randall-Paulson Architects will serve as the project’s design/build team, according to the release.
England-Thims & Miller is the civil engineer. SouthState Bank is financing the deal.
The owner is listed on the city plans as JAX Edgewood Partners LLC, based at Graham & Co. in Birmingham.
State corporate records show JAX Edgewood Partners is led by Matthew W. Graham, A. Taylor W. Graham and Henry C. Graham II, all in Birmingham. The name was registered with the state May 9, 2022.