Spinner Construction LLC landed permits June 28 to build two speculative warehouses totaling almost 73,000 square feet of space at Port Jax Trade Center in North Jacksonville.
The city issued permits for the 61,230-square-foot shell Building 900 at a project cost of $4.2 million and the 11,706-square-foot Building 1000 shell at $980,000, totaling $5.18 million
The structures are on 4.18 acres at 2690 Port Industrial Drive.
Developer Bill Spinner with Jacksonville-based Spinner Construction said in April that developing two buildings provided an economy of scale in construction costs.
He estimated a total $9 million investment for both buildings, land and other costs.
He expects to complete the two buildings by year-end.
Spinner said he will build those two structures speculatively, meaning no tenant has been signed before construction.
Port Jax Trade Center is east of Alta Drive and west of Interstate 295, north of Zoo Parkway, which also is Heckscher Drive.
The park is inside and south of the I-295 beltway between two access points onto the interstate from Alta Drive and New Berlin Road.
It is a mile from the Jacksonville Port Authority Blount Island Marine Terminal near the Dames Point Bridge.
Tenants include Lockheed Martin and W&O Supply.
Spinner said April 22 that he had started the site work and had St. Johns River Water Management District permits in place for Buildings 900 and 1000.
Zinn Architecture + Interiors of Jacksonville is the architect.
Spinner said the larger Building 900 warehouse was designed for up to two tenants with spaces of about 35,000 and 25,000 square feet.
“We see a need for that size increment,” Spinner said.
However, the entire building can be leased to one user.
“We have a possible tenant for the entire building and this would be ideal as it would save project costs,” he said.
He said Building 1000 will probably be leased by one of the park’s existing tenants, or it “will lease quickly to a new customer.”
“There is little risk in Building 1000 since it is so small,” he said.
Port Jax Trade Center comprises eight completed buildings of about 475,000 square feet.
Spinner said they are fully leased.
He plans three more this year and early next year, adding 175,000 square feet.
In addition to Buildings 900 and 1000, that space would include Building 1100, which is about 102,000 square feet.
Spinner said permits are in place for that structure but he is waiting on a 25,000-square-foot tenant to pre-lease to start construction.
“If the market picks up and or interest rates are lowered, we will start 1100 on speculation,” he said.
That structure is at 10350 Alta Road, across the street from Port Jax Trade Center.
The developer is Jax Green Industrial, a full-service real estate development company led by Spinner.
That completes the 650,000 square feet of buildings on about 45 acres by the end of 2025, Spinner said.
Spinner said he started the project in 2009 with site development and a spec building.
Since 1992, Jax Green Industrial has developed more than $250 million in properties comprising about 3 million square feet of office, flex industrial and heavy industrial commercial buildings.