X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

JACKSONVILLE, FL-New York City-based ING Clarion and Dallas-based Trammell Crow Development are planning to break ground by the end of the year on Perimeter West Industrial Park. The 800,000-sf speculative industrial park will rise at Interstate 295 and Pritchard Road.

The first phase of the project, which will consist of a 260,000-sf building, is expected to be completed in the second quarter of 2008. Four additional buildings are planned for the development: the 207,000-sf building two, the 130,000-sf building three, the 97,500-sf building four and the 85,000-sf building five.

“We remain bullish on the long-term fundamentals of Jacksonville and believe Perimeter West is well positioned within the market,” says Kristopher Arviso, of ING Clarion.

Building one will include clear ceiling heights of 30 feet, column spacing of 50 feet by 50 feet, a TPO membrane roof, an ESFR type IV sprinkler system and on-site trailer storage. The project will have access to Interstates 95 and 10 and is located in close proximity to the Jacksonville International Airport.

Locally based King Commercial Realty/Corfac International is the exclusive leasing agent for the project. Marketing efforts have started for the project, but there are no signed leases, King Commercial Realty/Corfac International president Jeff Graham tells GlobeSt.com. “We are hoping to attract companies that are in the distribution or logistics business,” he says.

King Commercial Realty/Corfac tracks activity through a proprietary database. There has been 2.9 million sf of industrial activity thus far this year, with 1.9 million sf of positive absorption. “Vacancy levels are down across the board,” he says. “There is currently about a 7.9% vacancy rate in distribution space.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.