Three years ago, the Jacksonville Port Authority (Jaxport)signed Mitsui to a 30-year lease for 158 acres at Dames Point, onwhich the Japanese shipping firm planned to develop a cargoterminal that would establish the city as its East Coast operationscenter. Mitsui subsidiary TraPac Inc. won't complete the newfacility for another six months, but the shipper decided to launchits East Coast-South China Express service ahead of time because ofhigh demand.

The Mitsui deal attracted the attention of other shippers, andin 2006 Denmark's Nordana Line, which provides service toMediterranean and West African ports, announced plans to shift someof its services from Savannah to Blount Island. The same year,Atlantic Container Line of Iselin, NJ began exporting cars andtrucks from Blount Island to West Africa. Early this year, CrowleyMaritime signed a 10-year lease with Jaxport for seven acres and a10-year sublease for 3.8 acres. This spring, Jaxport signed adetailed agreement with Korea's Hanjin Shipping Co. for developmentof a 170-acre container terminal to open in 2011.

The deal also attracted retailers and developers. Shortly afterthe Mitsui announcement, Michael's Stores Inc., which uses Mitsuito import much of its holiday merchandise, initiated plans to moveits seasonal distribution center from Savannah to Jacksonville,leasing a 285,000-sf building from Boston-based First WinthropCorp. Since then not only has development has continued unabated,but major new players have discovered the market. Among the firstwere Majestic Realty Co. of City of Industry, CA, which purchased47 acres for development of 833,000 sf of distribution space, andDallas-based Jackson-Shaw Co., which acquired 995,000 sf ofbuildings on 77 acres along with 86 undeveloped acres.