Duke-Weeks is leaving the Jacksonville area to focus on itsthree largest Florida markets--Orlando, Tampa and South Florida.The REIT feels the North Florida market is too restricted to createa steady demand for the company's ongoing projects, according toDuke-Weeks vice president Forrest Robinson. In a publishedstatement, Robinson, who is based in Tampa, calls Jacksonville "agreat and growing city but not large enough to capitalize on theDuke-Weeks delivery system."

In Orlando, the company is building a 61,000-sf industrialstructure that is 100% pre-leased for 15 years to Chase ManhattanBank. Duke-Weeks will also be breaking ground next year on a450,000-sf suburban office campus for Chase in Tampa, FL, 80 mileswest of Downtown Orlando.

The REIT's decision in Jacksonville dovetails with the company'sOctober announcement to build an additional 3.3 million sf of newdevelopments valued at $137 million in the Southeast and Midwest.The company expects an 11.3% return on those properties.