Market Mondays: Jacksonville - Nov 18

YardDogs out to explore this market

November 18, 2024

Jacksonville’s reaction to being selected first in YardDogs Market Monday

YardDogs -

Welcome back! This is our first edition of Market Mondays - where we take a deeper dive at IOS activity in a specific market. First up is Jacksonville, FL.

In today’s email:

  • Overview: IOS demand has surged in Jacksonville in recent years due to strategic location near the port of Jacksonville and Jacksonville’s population growth (23% growth from 2013 to 2023).

  • Acquisitions: IOS deal volume in Jacksonville is up ~300% since 2019. The market is growing - check out key IOS deals below.

  • Further Reading: Mike Salik at Matthews provides a great market overview.

MARKET OVERVIEW
Jacksonville, FL

OVERVIEW: IOS occupancy rates have risen from the lows of 2022, mainly driven by population growth, decreased IOS availability, and a thinning construction pipeline. Jacksonville remains a cost-effective location for industrial tenants in Florida, with pricing at around 50% the cost to lease space in southeast Florida.

BY THE NUMBERS:

Jacksonville IOS

Jacksonville Industrial Construction

Source: Matthews, CoStar Group

Industrial construction in Jacksonville has pulled back from peak levels, which contributes to increasing demand for existing IOS sites. Although there is less industrial SF under construction, annual starts are rising and remain elevated vs. 2021 levels.

CLOSED TRANSACTIONS
Acquisitions and Dispositions

Alton Box Parcels Along I-95 - the Colliers Team Brokered this Deal

ACQUISITION: Below are some notable acquisitions completed in 2024 that were featured in the Matthews 24Q3 overview. 

There are some big yards out in Jacksonville! Shout outs to Jacksonville YardDogs Mike Salik, Eric Bumgarner, Joseph Turri, Michael Cassidy, Gordon Olson, Nate Wallace, Andrew Hawkins, Mark Scott, John Cole, and Essie Bell.

Know of other great Jacksonville IOS acquisitions from 2024 that we missed? Send us a note at [email protected]!

Disclaimer: The authors of IOS YardDogs are not finance or tax experts. We love big yards, small buildings. This email is for educational uses and is not financial / investment advice. Please conduct independent research and consult with industry professionals before making financial or investment decisions. Our content, which may contain affiliate links, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information.