Miller Construction Co. announced Jan. 29 it has launched site work on Foundry Commercial’s IGP 95/Logistics Park at World Commerce Center, comprising three shell warehouses totaling almost 510,000 square feet in St. Augustine.
The tilt-wall, single-story project, on 43 acres at 3405 International Golf Parkway, is scheduled to be delivered for tenant build-out by the third quarter 2024.
Miller Construction said the industrial park is the first major warehouse project built “in the historic St. Augustine area with convenient access to major highways serving the Southeast United States.”
Building 100 is 193,600 square feet; Building 200 measures 205,700 square feet; and Building 300 is 110,600 square feet.
“The Jacksonville area has one of the fastest growing communities in the nation and we have seen a lot of new opportunities to build here,” said Brian Sudduth, president of Miller Construction, in a news release.
The project team includes C4 Architecture, The Avanti Group for structural engineering and Matthews Design Group as the civil engineer.
Fort Lauderdale-based Miller Construction will manage the project from its Central Florida office.
The release said the site is on old farmland with a high water table, requiring a special procedure for excavating the soil and creating a solid foundation.
Miller Construction was founded in 1973 and has completed nearly 600 commercial projects for the private sector in Florida, including office buildings, industrial, automotive, manufacturing and distribution, retail, healthcare, higher education and hospitality.
The almost 43-acre site is off Interstate 95 about 2.3 miles southwest of Buc-ee’s. It’s on the east side of International Golf Parkway across from Tocoi Creek High School.
“We felt like St. Johns County, with a growing population and a need for services in and around the area, is underserved,” said Mark Scott, Foundry Commercial partner in Jacksonville, on Aug. 1, 2023.
“There is a need there that presently is served in Duval County.”
TR WCC Property Owner LLC, in care of Barings LLC in Charlotte, North Carolina, paid almost $12.95 million for 42.47 acres in a deed dated Aug. 31, 2022.
The St. Johns County Property Appraiser shows TR WCC bought the land from World Commerce Center LLP, led by Steinemann-Wolfe LLC of Jacksonville.
Scott announced the project at the Bisnow-hosted Jacksonville panel at the Southbank Hotel Jacksonville Riverwalk about “Building the Future.”
Orlando-based Foundry is a real estate company with 11 offices in the Southeast, including in Jacksonville, and in California. Barings is an international real estate investment manager.
Foundry and Barings are marketing IGP/95 as a light industrial park with dock high doors, intermediary ramps and speculative offices so the space is available quickly for tenants.
Scott said he anticipates the buildings will be multitenant, but “we have no problem leasing a whole building to a single tenant.”
He said the buildings would be divided to accommodate tenants of 30,000 to 35,000 square feet and up.
Scott said the buildings will serve businesses in the area, including those that provide delivery services to residents. “We feel there is going to a need there.”
Scott and Senior Associate John Cole comprise the leasing team.
It is the second joint project in Jacksonville for Foundry and Barings.
Foundry Commercial and Barings are developing the 183,345-square-foot Butler 95 Logistics Center at 8332 Cypress Plaza Drive at Baymeadows Way in South Jacksonville.
Completion of the shell industrial building is expected in April 2024.