05:10 AM EST Share The West Jacksonville properties totalling nearly 500,000 square feet are near the BMW regional parts distribution center.
Pattillo Industrial Real Estate intends to develop two speculative warehouses in West Jacksonville along Imeson Road that total almost 500,000 square feet.
West Jacksonville is the region’s largest submarket for industrial space, roughly 49 million square feet, with a tight vacancy rate below 5%, according to fourth-quarter reports by area commercial real estate companies.
Peter Anderson, Pattillo vice president, said the speculative buildings are planned on the parcel next to the BMW regional parts distribution center.
Building 2 is a proposed 169,400-square-foot multitenant center at 6040 Imeson Road. It is designed for multiple office fronts to divide into units of 40,000 to 80,000 square feet. The cost to build it to a shell condition is $10 million.
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Even during a pandemic, it seems people want to move to Jacksonville.
A recent LinkedIn News report said Duval County s net number of people moving into the city is steadily rising along with other cities like Milwaukee and Salt Lake City.
Trends show people are leaving large cities, like New York, in exchange for smaller metro areas.
Before the coronavirus pandemic hit, Jacksonville was already a steady contender on annual Best Place to Live roundups. But now, with Americans facing more work-from-home flexibility, reports show the city is reaping new rewards, ranking among the top 20 cities people are looking to move to according to USA TODAY.