(To read more on the industrial market, click here.)

JACKSONVILLE, FL-The transportation corridors of this north Florida metropolitan area has prompted Majestic Realty Co. to go ahead with a $38-million, 833,300-sf class A warehouse and distribution hub. The development will rise on a 47-acre tract within the Jacksonville Tradeport Business Park, says David A. Wheeler, president of the City of Industry, CA-based company. A ground-breaking date is being worked out.

“With major highways and three major railroads serving the area, along with a deep-water port and international airport, the Jacksonville market provides strategic advantages to tenants with warehouse and distribution needs,” says Brett Tremaine, vice president of Majestic’s newly formed National Development Group in Denver.

The Denver division “identified the real estate opportunity and coordinated the transaction,” Wheeler says. “We established our National Development Group earlier this year for exactly this purpose. The team is charged with identifying new growth markets and acquiring key parcels throughout North America.” Wheeler adds, “This Jacksonville development is just the beginning.”

Nathan Rogers, senior associate of CB Richard Ellis Inc., represented Majestic and will serve as listing agent for the project. Susan Simcox, regional manager of Sealy & Co., negotiated for the seller, Jacksonville Tradeport Business Park.

Tremaine joined the National Development Group earlier this year, coming from Panattoni Development Co. of Sacramento where he was a national development partner. Previously, he was with Lee & Associates-Industry Inc. and Cushman & Wakefield Inc. Other new members of the National Development Group are Shane Bohart and Ryan Martin, associate directors; and Randy Simmering, director for Majestic-owned Commerce Construction Co. LP.

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