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Becknell Industrial proposes 1,108,080 square foot building in Westlake Industrial Park

Guy Preston and Seda Preston at Colliers International are marketing the Becknell sites.

What’s up with all of these 1 million-square-foot proposed distribution centers?

It could be that some brand-name tenants need Southeast facilities, indicating that the economy is supporting the investment.

At least five warehouses that size are proposed and four have been reported.

“We’re very emboldened by the activity,” said Dan Fogarty, executive vice president development for Lyons, Illinois-based Becknell Industrial.

 becknell

Becknell Industrial is the latest developer to propose a 1.1 million-square-foot distribution center in Jacksonville, meaning the market is heating up for large projects that typically create hundreds of jobs.

Becknell proposes a 1,108,080-square-foot building on 173 acres at 13522 Pritchard Road in Westlake Industrial Park west of Interstate 295.

Fogarty estimates the potential investment at more than $50 million.

Centers that size typically are e-commerce facilities that ship orders to consumers or are other types of fulfillment warehouses that send goods to retail stores and other brick-and-mortar customers.

Jacksonville’s three newest centers developed or under construction of that size are driven by e-commerce — two Amazon.com facilities in North Jacksonville and in Westside’s Cecil Commerce Center, and the Wayfair Inc. center under development in Cecil next to Amazon.

Fogarty said Tuesday there are at least two corporate prospects that are “very serious about large bulk buildings in Jacksonville.”

 

Fogarty said Becknell is spending about $1 million to prepare the site and intends to apply for a building permit by the end of September.

Guy Preston and Seda Preston at Colliers International are marketing the Becknell sites.

“There’s a good amount of velocity right now,” said Guy Preston, executive director at Colliers.

Preston said there is some effect of the trade tariffs imposed by President Donald Trump, leading some groups to exercise their competitive advantages to expand their foreign operations into the  U.S.

Seda Preston is a senior associate at Colliers.

In November, the city issued a permit for Becknell Services to build a 185,686-square-foot speculative building on 18.7 acres at 12075 Pritchard Road.

When a tenant signs for that building, Becknell intends to start construction on a 161,000-square-foot warehouse, Fogarty said.

He said previously that demand for warehouse space was outpacing supply in Jacksonville.

Westlake Industrial Park is owned by Atlanta-based Westlake Land Management Inc., part of the Atlanta-based Norfolk Southern transportation company.

 Becknell Industrial partnered with Norfolk Southern to develop the available property.

More than 1,000 acres remain available in the 3,000-acre park for commercial industrial development, Fogarty said.

Westlake is anchored by Southeast Toyota Distributors LLC, BJ’s Wholesale Club and Georgia-Pacific, among other users.

Read more about the industrial developments planned for Jacksonville.

Source | Jax Daily Record | Karen Brune Mathis

Related Experts

Guy Preston

Executive Director

Jacksonville

As an Industrial Specialist, Guy’s role is to provide his clients with expert and comprehensive advice in Industrial Sales and Leasing; Land Sales; Industrial Investment Sales; Port Site Sales and Leasing; Site Selection and E-commerce Distribution and Fulfillment Center Occupier Services.

One of his outstanding strengths is the ability to problem-solve to propel even the most complicated deals to the finish line.

He is a member of the Colliers International Logistics and Transportation Solutions Group, a practice group dedicated to delivering focused industrial real estate advisory services to better address the global economy. Guy has earned the SIOR Designation. SIOR is a society comprised of the most capable and experienced practitioners, delivering best in class service to clients.

Guy has closed transactions over $400M and in excess of 10M SF, as well as thousands of acres of land.

After graduating from Troy University with an Accounting Degree, Guy completed a four-year tour as a Missile Launch Officer in the United States Air Force. He then began his career in commercial real estate, where he continually strives to provide client centric service.

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Seda Preston

Associate Director

Jacksonville

Seda began her career as an Industrial Specialist in 2016 and has amassed an accomplished list of clients and transactions. Her expertise is in leasing and sales of industrial assets, with particular focus on Agency and Tenant representation.

Utilizing her advisory skills and strengths in persistence and organization, Seda has closed leasing transactions of over 2.5M SF and sales transactions of over $200M. She is currently representing 3.2M SF of Agency industrial distribution product in Jacksonville.

 

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