Overview
Colliers has been engaged by the PanAmerican Companies, or “PanAm,” for the development of JAX Airport Logistics Center (the “Property,” “JAX Airport Logistics Center,” or the “Project”). The Project will consist of two rear-load facilities and will total 425,000 SF when finished. Best-in-class design features will be incorporated throughout the Project to include concrete tilt-wall construction, multiple points on ingress and egress, trailer drops, and ample POV parking. As of Q2 2024, site work has commenced and is expected to deliver in Q2 2025.
Investment Highlights
No Risk Deal Structure
Seller to deliver two (2) completed buildings with no development risk or construction risk on behalf of the Buyer.
Proven Developer
PanAmerican Companies has successfully developed and exited two projects totaling 458,000 SF in Jacksonville over the past 18 months.
Versatile Building Layout
Building depths of only 250’ allow for the ability to execute both single occupier leases or execute a multi-tenant strategy.
Jacksonville Rent Growth
Jacksonville rents have grown at double digit rates for the trailing three calendar years and ranks 4th in rent growth across all markets in the country. Additionally, Jacksonville has the 2nd lowest vacancy rate of the top 10 rent growth markets in the US.
Strong Tenant Demand
Currently Jacksonville has over 8MSF of tenant demand in the market (“Tenants in the Market”) which is 5.3MSF higher than the speculative projects under construction.
Property Snapshot
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