PCCP and Midwest Industrial Funds have broken ground on a 337,000-square-foot speculative facility within Westlake Industrial Park in Jacksonville, Fla. Completion is scheduled for December.
Commercial Search reports the developer acquired the land at the end of last year for $3.5 million and took out a $19.3 million construction loan from CIBC Bank. The note is set to mature in December 2026.
Partners on the project include general contractor ARCO Design/Build and architecture firm ADB Design Services. Colliers’ Guy Preston and Seda Preston will handle leasing.
The Class A warehouse will feature 36-foot clear heights, 190-foot truck court and 72 dock-high loading doors. The rear-load facility will also comprise 245 vehicle parking spaces and 97 trailer stalls. Plans also include a second, adjacent building set to measure about 193,000 square feet, bringing the total project cost to $60.4 million.
The 33-acre site is at the junction of Pritchard Road and Jones Road, 4 miles from Interstate 295.