With Jacksonville area industrial vacancy rates still low, the city issued permits Jan. 25 for two buildings totaling 385,000 square feet at the Airport 295 Logistics Park in Northwest Jacksonville.
A third building is planned.
Catamount Constructors Inc. of Roswell, Georgia, is the contractor for the two warehouses at a combined cost of $19.9 million at 12435 Lem Turner Road.
The structures issued permits comprise:
• The 138,000-square-foot Building 100 at a project cost of almost $7.15 million.
• The 247,000-square-foot Building 300 at a project cost of almost $12.79 million.
The planned Building 200 will be 114,000 square feet.
Developed by Atlanta-based Seefried Industrial Properties, the three buildings total 499,000 square feet. The permits describe the project as site development and construction of a three-building speculative logistics park.
The property is at northeast Interstate 295 and Lem Turner Road.
Through Lem Turner Owner LLC, Seefried Industrial Properties bought 41.6 acres there in August 2023 for almost $3.43 million.
The city reviewed civil engineering plans filed June 16, 2023, following an application filed in June 2022 with the St. Johns River Water Management District.
The city issued a site-clearing permit Nov. 14, 2023, at a cost of $6.47 million.
Kimley-Horn and Associates Inc. is the civil engineer. LG2 Environmental Solutions is a consultant.
Cushman & Wakefield Executive Managing Directors Tyler Newman and Jacob Horsley are the leasing team for the property. A site brochure shows complete in the third quarter of 2024.
Jacksonville’s fourth-quarter industrial 2023 vacancy rate is at 3.1% to 4.6% as landlords have been developing buildings for prospective tenants.
“The Northside and Westside submarkets continued to command new deals,” Cushman & Wakefield said in its fourth-quarter 2023 market report.