Merritt Properties LLC is working on building the last two buildings for the Imeson Landing Business Park in Northern Jacksonville. Arco Design/Build was the contractor selected to develop the 24.24 acre property at 1250 Imeson Park Blvd. Overall, the development plan for this project consists of five industrial buildings ranging in size from 39,000 to 69,000-square-feet.
Upon completion, Imeson Landing Business Park will feature 5 flexible and lightweight industrial buildings, occupying 266,200-square-feet in total. According to Merritt Properties’ asset manager, Pat Franklin, the first three buildings totaling 137,800-square-feet will open by early 2023.
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Development plans for the last phase of the Imeson Landing Business park
The city is currently reviewing building permit applications for the last two buildings at the industrial Park. The two buildings referred to as Building 400 and Building 500, will be 68,400-square-feet and 60,000-square-feet respectively. Building 400 will cost $4 million to build, while Building 500 will cost about $3.5 million.Once the construction begins, the developer expects these buildings to be fully operational by Q4 of 2023.
Franklin was quite confident about the leasing potential of the Imeson Landing Business Park. He pointed out that they had signed up to seven clients for the first three buildings on the property. According to Franklin, the 39,000-square-foot Building 100, only has about 6,000-square-feet of vacant space, with a pending lease. Additionally, 6,500-square-feet of the 40,000 square foot Building 200 has been signed with strong prospects for vacant spaces.
Meanwhile, Loomis has leased 29,000 square feet of the 58,800-square-foot Building 300 at Imeson Landing Business Park. On top of that, an additional 11,000 square feet lease is also currently under review. Franklin said this all means they are now 50% leased and another 33% leased.
The leasing agents for the project are JLL Managing Director Luke Pope and Senior Associate Ross Crabtree. Pope pointed out that this industrial park was the first of its kind in Jacksonville in years. Especially since, smaller tenants still have very few options.