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Jacksonville Industrial Market Report | Q4 2022

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Key Takeaways

  • Vacancy at record low
  • Leasing velocity slowing but still strong
  • Rental rate growth high but peaking
  • Capital markets slow but adapting

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Jacksonville Industrial Market Report | Q4 2022

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Related Experts

Guy Preston

Senior Vice President

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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Eric Bumgarner

Executive Vice President

Jacksonville

Eric Bumgarner is an Executive Director of Industrial Brokerage Service with Colliers North Florida. Eric focuses his efforts primarily on the disposition and acquisition of industrial business parks, single tenant net leased industrial and self-storage facilities. His brokerage activities include both seller/landlord representation and buyer/tenant representation of sales and leases in the specialty of industrial land and buildings for local, regional and international companies. Eric has a reputation of being a key player in the Jacksonville, FL industrial market with having completed over 600 transactions throughout his career totaling 5.2M square feet. These transactions are valued at more than $300 million and has placed Eric among the top producers within Colliers.

Eric has relevant hands-on experience when it comes to understanding the needs of industrial users, as he has worked for multiple contracting companies in his younger years and is a veteran of the United States Air Force where he served in Operation Enduring Freedom maintaining the missile defensive systems on C-130 cargo planes.

Prior to joining Colliers International, Eric managed the industrial division at Prime Realty.

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Joseph Turri

Associate Vice President

Jacksonville

Joseph M Turri is an Associate Vice President of Industrial Brokerage Service with Colliers International Florida. Joseph focuses his efforts primarily on the disposition and acquisition and investment analysis. His brokerage activities include both seller/landlord representation and buyer/tenant representation of sales and leases, specializing in industrial warehouses, Industrial Land, Truckyards, Truck Terminals. and  Build to Suit for local, regional and international companies. Joseph has a reputation of being a key player in the Jacksonville, FL industrial market with having completed over 600 transactions throughout his career totaling 5.2M square feet. These transactions are valued at more than $300 million and has placed Joseph among the top producers within Colliers.

Prior to joining Colliers International, Joseph was a property manager at New Bedford Management and managed over 70 buildings in the NYC metro area. Upon moving to Jaksonville, FL. he was an Industrial Broker at Prime Realty before being recruited to Colliers Imternational.

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Seda Preston

Associate

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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Michael Cassidy

Senior Associate

Jacksonville

Michael joined Colliers International | Northeast Florida in April 2019 as an Associate for the Bumgarner Industrial Team. As a third generation Floridian and a lifetime resident of Jacksonville, Michael has had the opportunity of creating strong connections with the local and regional market. He brings experience in sales, customer relationship management and financial analysis and his primary focus is to assist the Bumgarner Industrial Team while entering the market as an young professional and developing quality client relationships.

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Tanner Lee

Associate

Jacksonville

Tanner joined Colliers International in 2021 as an Industrial Specialist. As a life long resident of Amelia Island & Jacksonville, Tanner has a vast knowledge of the local market along with deep connections that allow him to navigate through the complexities within the industry.  He brings over six years of sales experience and works alongside Guy Preston and Seda Preston as he continues to develop as an Associate.

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Gordon Olson

Associate

Jacksonville

Gordon joined Colliers International in 2022 as an Industrial Specialist. Being a Jacksonville native has provided Gordon the opportunity to obtain a large social network with close contacts in the area and throughout Florida. These resources, paired with a strong familiarity with the area, provides his clients an edge only a market insider can provide. Gordon began his career as an industrial specialist in 2021 with a local boutique firm and looks forward to expanding his knowledge and career at Colliers.   

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