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Warehouse Rentals building Pickettville Distribution Complex

The city issued two permits April 22 for the 381,900-square-foot warehouse center

The city approved permits April 21 for Valdosta, Georgia-based Warehouse Rentals LLC to build two buildings at the Pickettville Distribution Complex in West Jacksonville, another project that will address the area’s tight industrial market.

Bassford Industrial Construction, also of Valdosta, is the contractor for the structures, totaling 381,900 square feet, at a cost of $9.5 million.

The city approved site clearing in May at a cost of $125,000.

Warehouse Rentals will build the structures on 16 acres at 2730 Pickettville Road.

12 Stones Engineering Co. Inc., also of Valdosta, is the civil engineer.

The Colliers real estate firm is the leasing representative for the Warehouse Rentals properties in Jacksonville.

A Colliers brochure shows that the two Pickettville buildings provide bay sizes starting at 22,500 square feet.

Smaller bay sizes have been in demand as larger tenants absorb bigger spaces.

Colliers Executive Director Guy Preston and Associate Director Seda Preston represent Warehouse Rentals.

Seda Preston said April 22 that Warehouse Rentals is targeting project delivery in the late first quarter of 2023 for tenants to then build-out.

Warehouse Rentals paid $2 million for 42 acres at Pickettville Road on Dec. 28, 2020.  Of that, about 26 acres is developable, property records show.

It bought the vacant land from Pickettville Partners Ltd. Its general manager is Pickettville Partners Inc., led by President John J. “Jack” Allen.

Warehouserentals.net says the company operates around the Southeast.

“We have carved a niche for flexible leasing terms,” it says.

“ If you’re a company dealing in agricultural products, or distribution, looking to start operations in an up-market locality with excellent back-up facilities, we are equipped to deliver everything that you need,” it says.

“We have introduced highly flexible leasing terms and conditions to provide maximum value for every customer.”

The site says it can rent for short- or long-term needs. Clients include health care, agriculture, retail chains and shipping. 

Warehouse Rentals owns other properties in Jacksonville.

Warehouse Rentals paid $1.23 million for 18.2 acres in 1337 Owens Road in North Jacksonville on Dec. 4, 2020.

Colliers is marketing the Owens Road Distribution Complex as build-to-suit with size options from 210,000 to 255,000 square feet of space.

In May 2019, Warehouse Rentals paid $1.615 million for a 50.1-acre site at 3525 Imeson Road in West Jacksonville where it developed 378,125 square feet of industrial space among two multi-unit buildings in the Imeson Road Distribution Complex.

Building one is 188,125 square feet and building two is 190,000 square feet.

Colliers says it is fully leased.

The industrial market is facing historically low vacancy rates in Jacksonville of less than 4% as e-commerce and other companies quickly lease available space.

Within recent days, the city issued building permits for the first phase of Florida Gateway Logistics Park at 9909 Pritchard Road in West Jacksonville. The initial three buildings will total 1.72 million square feet of space.

The city also issued a permit for foundation construction for Park 295 Building D, a 435,943-square-foot warehouse center at 2845 Ignition Drive in Northwest Jacksonville. The city is reviewing the foundation permit for the 217,268-square-foot Building E.

At Imeson Park South in North Jacksonville, VanTrust Real Estate announced it broke ground on three industrial buildings totaling more than 1.75 million square feet of space.

 

Source: Jax Daily Record

 


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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