Article by: Karen Brune Mathis | Jax Daily Record | To view the full article, here.
VanTrust Real Estate is developing two more structures to complete five of the proposed seven buildings at Imeson Park South at 1511 Zoo Parkway in North Jacksonville.
The city is reviewing building plans for Building B1, and JEA issued a utility service availability letter Aug. 9 for Building D.
The specs are:
• Building B1 (also known as Building 500) is 235,735 square feet on 18.82 acres. The Conlan Co. is the contractor for the estimated $15.14 million construction project. England-Thims & Miller Inc. is the civil engineer.
VanTrust Executive Vice President Marc Munago said Aug. 9 that he expected construction will start in September for completion in May 2024. He said the building is designed for multiple tenants or a single tenant, but none has been signed.
• Building D (Building 400) is 547,200 square feet on 29.89 acres. Munago said it is in design. He expects construction could start after the first of the year. England-Thims & Miller Inc. is the civil engineer.
The two will join two buildings under construction and a third that is completed at Imeson Park South.
JLL Senior Managing Director Luke Pope and Vice President Ross Crabtree represent VanTrust in lease negotiations.
The city issued permits in June 2022 for Building A and Building C and in September 2022 for Building E.
• Building A (Building 100). The 202,800-square-foot building is a completed build-to-suit that is occupied by Sub-Zero Group Inc.
• Building C (Building 200). The 547,200-square-foot building will be completed in January 2024. Munago said there is a tenant but has not identified it.
However, the building has been separately identified for European-based budget fashion retailer Primark to lease for its expansion in the southern U.S.
The city is reviewing a permit for The Conlan Co. of Jacksonville to make tenant improvements for Primark at a project cost of $14.565 million in the building.
CoStar News reported May 17 that Primark will take a 547,200-square-foot distribution center in Jacksonville in September.
• Building E (Building 300). The city issued a permit in September 2022 for the speculative 1 million-square-foot building. Completion is expected in September 2023.
Munago has not identified the potential tenant.
However, the building has been identified as the location for Project Crystal, which matches the description of Sam’s Club, the wholesale membership club division of global merchandiser Walmart Inc.
The city proposes a five-year $1.5 million Recapture Enhanced Value Grant for Project Crystal based on 50% of the increase in real and tangible property taxes for the project.
According to a city memo, summary and fact sheet, the project wants to open a distribution facility in the soon-to-be-completed building under construction at 1400 Zoo Parkway, which is the 1 million-square-foot warehouse at Imeson Park South.
Two more structures are planned – Building B2, at 235,735 square feet, and Building F, at 216,320 square feet. Those are Buildings 600 and 700.
Munago said those will be developed after Buildings B1 and D, unless a tenant needs them sooner.
VanTrust Real Estate said the Imeson Park South master plan totals 3 million square feet of industrial space.
The 214-acre Imeson Park South property is south of VanTrust’s 146-acre Imeson Park, which totals about 2.5 million square feet that include a 1 million-square-foot Amazon fulfillment center.