With warehouses in demand and at least one prospect looking for more than a 1 million-square-foot distribution center, North Jacksonville is targeted for a sizable industrial park.VanTrust Real Estate LLC intends to buy 156 acres of industrial property in Imeson International Industrial Park for development of 3 million square feet of space among three to six buildings. See the article here from Karen Brune Mathis of The JAX Daily Record.
JAX University, an 84-year-old institution, is transforming its 260-acre campus under the leadership of President Tim Cost. The city approved the permit for The Haskell Co. to build the Jacksonville University Welcome Center at the Institution’s Arlington campus. Completion is expected in early 2019.
Authorities at Jacksonville University have started development on the school’s new College of Health Sciences building, an $8 million project. The Florida Times-Union has the article here.
A year after an arrangement for apartments failed to work out, and 16 years after potential advancement initially surfaced, it looks as though East San Marco will before long go vertical with retail. This time, says Regency Centers, the developer, East San Marco will simpy be a 30,000 SF Publix Super Market, plus 20,000 SF of shops and restaurants. It is located in the heart of San Marco at Hendricks and Atlantic Blvd. Karen Brune Mathis of The JAX Daily Record reports on the project here.
The Florida Department of Economic Opportuniuty said the region grew 2.7% over the past 12 months, outpacing the state at 1.9%. Construction jobs surged ahead with 3,800 new jobs (+9.2%) followed by Financial Activities (+4.1%), Retail (+3.8%) and Leisure and Hospitality (+3.6%). Most importantly, none of the MSA’s five counties lost jobs, and their unemployment rates all dropped. See the article here from Mark Basch at The JAX Daily Record.
Transportation coalition sets out to make Jacksonville a smart region. Fueled by public-private partnerships, a coalition of 30 stakeholders hopes to transform Northeast Florida into a data-driven smart region.
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According to Colliers International, northeast Florida reached more than $2.5 billion in real estate transactions in 2017, 29 percent higher than in 2016. See the article below in the JAX Business Journal.
Metro JAX job growth was at a 2.6% annual rate, according to the Florida Department of Economic Opportunity and an article by Mark Basch in the JAX Daily Record.
Major development projects have returned to the landscape of Jacksonville’s urban core. Find out where ModernCities.com takes a brief look at the status of various developments under construction in and around Downtown Jacksonville in early 2018.
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As freshly constructed units are entering the local market, Vacancies are anticipated to lessen. Thanks to appealing rents 70s and 80s vintage product prevail with renters. Regional private investors are the main active buyers in Jacksonville, targeting higher yields. We thus have the strategic opportunity to procure multifamily properties in Jacksonville, which is often neglected among larger metropolitan cities. Get the full articles from Creative Realty Partners here