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N.G. WADE INDUSTRIAL LAND PORTFOLIOJACKSONVILLE, FLORIDA 32254DUVAL COUNTY
PROPERTY MARKETING PACKAGE
CBRE | INDUSTRIAL SERVICES
www.cbre.com/NGWadeLand
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CONTACT
TABLE OF CONTENTS
05 EXECUTIVE SUMMARY
09 PROPERTY DISCUSSION
17 AREA OVERVIEW
BOBBY GATLINGFirst Vice President+1 904 630 [email protected]
CBRE, Inc. | Licensed Real Estate Broker
EXECUTIVE SUMMARY
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5E X E C U T I V E S U M M A R Y
THE OFFERING
CBRE, as exclusive broker, is pleased to offer the availability of the N.G. Wade Industrial Land Portfolio, an eight parcel portfolio totaling ±433.56 acres with sites ranging from 9.38 to 213.11 gross acres. Located in Jacksonville’s Westside Industrial submarket, this core offering provides one of the most strategic distribution locations in the market with direct access to I-295 and I-10 and close proximity to Jacksonville International Airport and JaxPort’s deep water marine terminals.
N.G. Wade Industrial Land Portfolio provides build-to-suit opportunities in Jacksonville’s most strategic location for Industrial related businesses.
9 Best-in-class location
9 Direct access to major transportation demand drivers including road, sea and air
9 Some sites rail served (CSX)
9 Sites ranging from ±9 to 213 acres
9 Utilities at all sites
9 CSX Intermodal Yard - 3.5 Miles
9 Norfolk Southern Intermodal Yard - 4.2 Miles
9 ±0.5 - 3 miles from the UPS, USPS and FedEx Processing Centers
W. BEAVER STREET
LAKE CITY ROAD
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KEY JACKSONVILLE HIGHLIGHTS
Suburb Market Fundamentals - Jacksonville Industrial + Approximately 98M square feet of industrial product
+ 8.3% vacancy with 1M square feet of positive absorption YTD for 2015
+ Direct access to major transportiation thoroughfares including I-295 (perimeter, I-10 (east-west) and I-95 (north-south)
+ Services six major cities in less than 6 hour drive time:
– Miami – Ft. Lauderdale – Orlando – Tampa – Atlanta – Charlotte
+ Jacksonville Port Authority is one of the fastest growing sea ports on the East Coast
Strong Intermodal Connectivity + Served by three rail carriers: CSX, Norfolk Southern and Florida East Coast
Railway
+ Based in Jacksonville, CSX has greater connectvity within the city than any other in Florida with two major rail yards, two TDSI auto distribution terminals, a bulk transfer terminal and an intermodal terminal
+ JAXPORT provides on-dock rail service
+ Less than 200 miles to the Port of Charleston, SC and less than 120 miles to the Port of Savannah
Jacksonville Port Authority (JAXPORT) Growth + 8.3 million tons of cargo handled in 2014 with 936,973 TEU’s
+ #1 container port in Florida
+ #1 vehicle exporter in the US (605,170 in 2014)
+ Primary Florida port handling military equipment shipments
+ $40 million has been commited in state land local funding to complete the Mile Point project which is underway and will fix the navigational issues and allow larger shipments to enter the port any time of the day
+ Dredging the St. John River shipping channel to 47 feet to accomodate larger cargo ships transitting the Suez Canal and expand Panama Canal, when completed
Irreplaceable Distribution Location + Strategically positioned on Jacksonville’s west side immediately adjacent to the
intersections of Commonwealth Avenue and I-295 along with Pritchard Road and I-295.
+ Immediate access to two of Jacksonville’s major interstate thoroughfares, I-10 and I-295 is approximately 1 mile away
+ Close proximity to all JAXPORT terminals:
– ±21 miles to Dames Point – ±21 miles to Blount Island – ±11 miles to Tallyrand
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7E X E C U T I V E S U M M A R Y
SUBJECT
Blount Island
Dames PointTraPac
Terminal
Talleyrand Terminal
PROPERTY DISCUSSION
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SITE 1
Location 8020 Pritchard Rd
Size ±213.11 Acres
SITE 2
Location Commonwealth/Imeson
Size ±39.32 Acres
SITE 3
Location Imeson Road
Size ±20.97 Acres
SITE 4
Location Commonwealth Ave
Size ±20.95 Acres
SITE 5
Location Pickettville Rd/Commonwealth Ave
Size ±89.25 Acres
SITE 6
Location Commonwealth Ave/Pickettville Road
Size ±28.38 Acres
SITE 7
Location Commonwealth Ave/Pickettville Road
Size ±9.38 Acres
SITE 8
Location Suemac Road
Size ±12.23 Acres
MORE LOCATIONS MORE OPPORTUNITIES MORE OPTIONS
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PARCEL DETAILS
SUBJECT
Site # Parcel ID # Land Size (Acres) Zoning
1 003441 0010; 003410-0000 and 003410-0030 213.11 IBP and RLD-60
2 004889 0600 39.32 IBP
3 004889 0700 20.97 IBP
4 011369 0012 20.95 IL
5 004889 0800 89.25 IL
6 004890 1210 28.38 IL
7 005129 0000 9.38 PUD
8 005119 7600 12.23 PUD
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PROPERTY DESCRIPTION
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SITE 1
Location 8020 Pritchard Road
Size ±213.11 Acres
Parcel ID # 003441-0010; 003410-0030 and 003410-0030
Zoning IBP and RLD-60
Frontage 2,381.54' on Pritchard Road; 2,499.75' on Bulls Bay Hwy
Utilities To the site on Pritchard Road
SITE 2
Location Commonwealth Avenue / Imeson Road
Size ±39.32 Acres
Parcel ID # 004889-0600
Zoning IBP
Frontage 1,864.76' on Commonwealth Ave; 2,010' on Imeson Rd
Utilities To the site on Commonwealth Avenue
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SITE 3
Location Imeson Road
Size ±20.97 Acres
Parcel ID # 004889-0700
Zoning IBP
Frontage 663.9' on Imeson Road
Utilities To the site on Commonwealth Avenue
SITE 4
Location Commonwealth Avenue
Size ±20.95 Acres
Parcel ID # 011369-0012
Zoning IL
Frontage 1,041' on Commonwealth Avenue
Utilities To the site on Commonwealth Avenue
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PROPERTY DESCRIPTION
SITE 5
Location Pickettville Road / Commonwealth Avenue
Size ±89.25 Acres
Parcel ID # 004889-0800
Zoning IL
Frontage 1,432.38' on Commonwealth Ave; 2,568.97’ on Pickettville Road
Utilities To the site on Commonwealth Avenue
SITE 6
Location Commonwealth Avenue / Pickettville Road
Size ±28.38 Acres
Parcel ID # 004889-1210
Zoning IL
Frontage 1,268.65' on Commonwealth Avenue; 394.94' on Pickettville Road
Utilities To the site on Commonwealth Avenue
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SITE 7
Location Commonwealth Avenue / Pickettville Road
Size ±9.38 Acres
Parcel ID # 005129-0000
Zoning PUD
Frontage 530' on Commonwealth Ave; 657.8' on Pickettville Road
Utilities To the site on Commonwealth Avenue
SITE 8
Location Suemac Road
Size ±12.23 Acres
Parcel ID # 005119-7600
Zoning PUD
Frontage 534.04' on Sandymac Ave; 589.04' on Suemac Road
Utilities To the site on Commonwealth Avenue
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AREA OVERVIEW
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JACKSONVILLEINDUSTRIAL MARKET OVERVIEW - 2015
The Jacksonville industrial market, with nearly 98 million square feet of inventory, continues to show positive indicators of growth in 2015. Asking lease rates increased to $4.05PSF, up from $3.97 in 2014, and year-to-date absorption is just over 1.0 MSF. Vacancy rates also decreased to 8.3%, down from 8.9% in 2014.
Industrial investment sales have seen strong activity throughout 2015. Q1 saw the 540,433 SF GE Oil & Gas facility sell for $57.6 million, and the 904,000 SF Jacksonville International Tradeport sold for $37.15 million. In Q3, the 870,000 SF NorthPort Logistics Center sold for $33 million.
Leasing activity has experienced positive gains in 2015. Notable moves include FedEx occupying 297,000 SF in Q1, and both OHL moving into 53,520 SF and Niles Building Products entering 35,000K SF in Q2. Q3 saw Sub-zero Group occupy a 120,000 SF warehouse space, TruAire move into a 90,000 SF facility, and Crowley occupy 47,000 SF.
At the seaport, the Jacksonville Port Authority continues to make progress on a number of projects aimed to enhance Jacksonville’s maritime transportation capacity. These include a harbor deepening that received Congressional approval in June 2014 to begin construction early 2016, a new Intermodal Container Transfer Facility (ICTF) at Dames Point to improve on-dock rail capabilities, 100-guage cranes at Blount Island with a 22 container range and $100 million worth of infrastructure improvements at both Blount Island and Talleyrand terminals. Port improvements will allow large container ships coming from the Panama and Suez canals to more easily navigate the St. John’s River and generate business in Jacksonville.
An exceptional intermodal infrastructure makes Jacksonville a choice location for businesses emphasizing smart logistics. Jacksonville emerges as an important transportation hub due to access to three major interstates and highways, three railways, an international airport and a deep-water port with three marine terminals. Efficient utilities and state-of-the-art telecommunication infrastructure position Jacksonville as an ideal location for business.
With Jacksonville’s combination of strategic location, intermodal hub, healthy economy, pro-business environment and low construction costs, it is one of the most attractive areas in the Southeast.
MILE POINT CHANGES - 2015
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Source: Army Corps of Engineers
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ECONOMIC STRENGTH & STABILITY
+ More than 80 companies have national or divisional headquarters in the area and Jacksonville is home to three Fortune 500 companies
+ Jacksonville unemployment rate closed at 5.1% in September 2015 from 6.1% in September 2014
+ A low cost center for the financial services industry, employing over 45,000 people
MAJOR POPULATION CENTER
+ The Jacksonville MSA is one of the most populous areas in Florida with a population in excess of 1.4 million
+ The MSA is expected to grow by 5.5% in the next five years
+ The State of Florida is one of the fastest growing states in the country, the nation’s third largest
KEY TRANSPORTATION AND LOGISTICS HUB
+ Based in Jacksonville, CSX has greater connectivity in Jacksonville than any other city in Florida with two major rail yards, two TDSI auto distribution terminals, a bulk transfer terminal and an intermodal terminal
+ JAXPORT is one of the largest commercial cargo ports on the East coast and the #1 container port in Florida
+ Nearly 8.3 million tons of cargo handled in fiscal year 2014 with over 936,973 TEUs - a new container record
TOP TIER INDUSTRIAL MARKET
+ Regional intermodal hub, with over 98 MSF of industrial product
+ 1M SF of positive net absorption YTD 2015
+ Access to three major interstates and highways, three railways, an international airport and deepwater port with three marine entrances characterizes the exceptional intermodal infrastructure
+ $40M Mile Point project will add jobs and increase trade in the market, increasing market occupancy long term
JACKSONVILLEMARKET OVERVIEW
Located in the northeast corner of Florida, the Jacksonville MSA is comprised of Baker County, Clay County, Duval County, Nassau County, and St. John’s County. Jacksonville’s strategic geographic location makes it the center of the Western Hemisphere, providing faster and more efficient access to both domestic and international markets. The city is within 600 miles, or an eight-hour drive, of two-thirds of the southeastern United States.
The Jacksonville MSA, with population in excess of 1.4 million, is the most populous area in the state. More than 80 local companies have national or divisional headquarters in Northeast Florida, and Jacksonville is home to three Fortune 500 companies, including CSX Corp., Fidelity National Financial, Inc. and Fidelity National Information Services, Inc.. Forbes magazine ranked the city 3rd in its 2013 list of “Best Cities for Finding Employment,” Notably for its diverse and highly educated labor force. With an unemployment rate of 5.1% as of September 2015, Jacksonville is seeing the heaviest hiring in higher education, healthcare, IT, food services, transportation and logistics, and government work from the city’s three military bases. The region boasts a strong aviation cluster, influenced by the presence of Naval Air Station Jacksonville, the third largest naval installation in the nation. A strong biotechnology cluster also exists, thanks in part to the exceptional local research facilities of the Mayo Clinic and Shands Jacksonville.
The Jacksonville MSA area is expected to grow by 5.5% in the next five years. This is similar to the population of Nashville, Charlotte or Memphis. The Jacksonville region is a gateway to Florida, one of the fastest-growing states in the country, soon to be the third largest in the nation. The area is home to national treasures like historic St. Augustine and Fernandina Beach, and recreational locales such as the St. Johns River, World Golf Village and Marineland. Few places in America allow residents to be moments from the ocean, downtown in a major metropolitan area or deep in the woods enjoying the peace and serenity of nature. From oceanfront living, to a downtown urban loft or a rural homestead, there is a place in Northeast Florida for every newcomer.
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JACKSONVILLE AT A GLANCE
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Jacksonville’s strategic location, intermodal hub, strong economy, low construction costs and pro-business environment make it one of the most attractive areas in the Southeast. The community has positioned itself to address growth management and economic development issues by forming regional alliances and strategic partnerships such as the Office of Economic Development. The Office of Economic Development works directly with the Chamber of Commerce and the City of Jacksonville to recruit new businesses, develop marketing strategies, and work in regional cooperation with all of the counties within the Jacksonville MSA to ensure the area’s continued prosperity.
DIVERSIFIED INDUSTRY BASE
The Jacksonville MSA includes a growing number of industry clusters, particularly aviation, financial services, and biomedicine. The Aviation Center of Excellence at Florida State College at Jacksonville is dedicated to meeting the future local educational needs in that sector. Financial services giants Citibank, JP Morgan Chase, and Wells Fargo all have major offices in Jacksonville. They join a host of other large firms with corporate, regional, or divisional headquarters based in Jacksonville that employ nearly 50,000. The city’s diverse industry base is further evidenced in the list of top employers:
TOP EMPLOYERS
Company People
Naval Air Station Jacksonville 25,240
Duval County Public Schools 14,480
Naval Station Mayport 9,000
City of Jacksonville 8,820
Baptist Health 8,270
Florida Blue 6,500
Citi 5,000
Mayo Clinic 4,970
United Parcel Services 4,100
Clay County School Board 4,000
Fleet Readiness Center Southeast 3,917
JP Morgan Chase 3,900
US Postal Service 3,790
St. Johns County School District 3,700
CSX Corporation 3,600
UF Health 3,500
Wells Fargo 3,500
Jacksonville Sheriff’s Office 3,300
Florida State College at Jacksonville 3,100
NAS Jacksonville
Source: JaxUSA - Chamber of Commerce
2020
JACKSONVILLE ACCOLADES
+ Jacksonville ranks fifth best city to find work in the U.S. (Forbes – 2015)
+ Jacksonville ranks among top 15 North American ports based on port infrastructure capabilities and strength of industrial real estate market (CBRE Group, Inc.’s “North America Ports Logistics Annual Report” – 2015)
+ JAX Tops List of Best Cities for Logistics Infrastructure (Global Trade - 11/2014)
+ Jacksonville was No. 1 on the “Most Improved Markets” list from September 2012 to September 2013 and No. 16 on the “Top U.S. Economies” list. (On Numbers Economic Index, 2013)
+ Forbes ranked Jacksonville No. 3 on its list of top 10 cities to find a job. (2013)
+ Forbes ranked Jacksonville No. 2 in the nation for technology services jobs growth. (2013)
+ Jacksonville ranked No. 2 in the state and No. 31 in the nation for transportation and warehouse sector jobs. (On Numbers analysis, U.S. Census Bureau – 2012)
+ Jacksonville ranked No. 6 on the list of “Best Cities for Technology Jobs.” (Forbes – 2011)
+ Jacksonville ranked No. 26 on the list of “50 Best Cities.” (Businessweek.com - 2011)
+ The U.S. Chamber of Commerce released a study ranking Florida’s Workforce and Training programs No. 1 in the country. (Enterprising States Report - 2011)
Sources: www.coj.net and www.jaxusa.org
TRANSPORTATION INFRASTRUCTURE - AIR, SEA AND RAIL
An exceptional intermodal infrastructure makes Jacksonville a choice location for businesses dependent on logistics to get the job done. Access to three major interstates and highways, three railways (CSX, Norfolk Southern and Florida East Coast), an international airport and deepwater port with three marine terminals makes Jacksonville a transportation hub and the gateway to Florida and the Southeastern United States. Efficient utilities and state-of-the-art telecommunication infrastructure make Jacksonville a smart business choice.
AIR
The area is served by three regional airports and the Jacksonville International Airport. The Jacksonville International Airport (JAX), located 18 miles north of downtown Jacksonville, Fla., is the gateway to northeast Florida and southeast Georgia. There are eight major airlines and a network of regional carriers providing daily arrivals and departures at JIA. More than five million passengers enjoy traveling through Jacksonville International Airport each year. Moving into the future, JIA has the current capacity to accommodate more than 6 million passengers. Commercial carriers offer non-stop service to many major cities including New York, Boston and Chicago. JIA has recently completed a $25.5 million dollar expansion of its full service terminal to enhance the traveler’s experience. The airport is also home to general aviation and cargo services and features 10,000-foot and 7,700-foot runways.
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SEA
Jacksonville Harbor is a significant economic force in Florida and the nation, ranking third for tonnage and first for container traffice in Floridam along with contributing to 17,700 jobs in Florida with an estimated economic impact of $1.8 billion. Jacksonville Harbor is located at a strategic transportation nexus, as it provides both rail and highway access to all regions of the United States, as well as to south Florida ports.
The city is home to one of the largest commercial cargo ports on the East Coast. Jacksonville Port Authority (JAXPORT) has connections to major trade lanes throughout the world and continues to expand its reach into new markets. JAXPORT is a leading containerized cargo port facility on the East Coast. The 1,400-acre JAXPORT, is comprised of three marine terminals: Talleyrand, Blount Island and Dames Point, all situated along the St. Johns River. Together they handled nearly 8.2 million tons of cargo in Fiscal Year 2013, including 630,697 vehicles - making JAXPORT one of the largest vehicle handling ports in the country. International trade is big business at JAXPORT, where companies can take advantage of Foreign Trade Zone #64 and save money on tariffs and duties. JAXPORT’s top trading partners include Brazil, Argentine, Russia, Columbia, Canada and Bahamas. Recently, JAXPORT received federal funding to correct the Mile Point shipping passageway, which is causing navigational hazard and restriction to the St. Johns River for a large part of the day during high tide. This $40 million construction project will allow an increased trade from larger ships which could trickle down the industrial market occupancy levels and create additional jobs in the industrial sector. In addition, JAXPORT released a report in February 2014 detailing plans to dredge the St. John River shipping channel to 47 feet to accommodate larger cargo ships transiting the Suez Canal and expanded Panama Canal (when completed). In June 2014 pre-construction, engineering, and design begin on port deepening and in July 2015 the Mile Point Harbor Improvement Project began.
RAIL
CSX, the largest railroad east of the Mississippi, reaches more than 70 river, ocean and lake ports, as well as more than 200 short line railroads. It also provides on-dock rail service at JAXPORT. Based in Jacksonville, CSX has greater connectivity than any other city in Florida with two major rail yards, two TDSI auto distribution
terminals, a bulk transfer terminal and an intermodal terminal. Norfolk Southern provides Jacksonville with rail service to 21,200 route miles in 22 eastern states, the District of Columbia and Ontario, Canada, serves all major eastern ports and connects with rail partners in the West. Florida East Coast Railway, A Class II regional freight railroad that extends along a 351-mile corridor between Jacksonville and Miami, with exclusive rail access to the Port of Palm Beach, Port Everglades (Ft. Lauderdale) and the Port of Miami. It operates Bowden Yard intermodal facility in Jacksonville to connect the CSX and Norfolk Southern railroads.
Source: www.coj.net
EDUCATION
Jacksonville is home to Jacksonville University, the University of North Florida, Florida State College at Jacksonville, Edward Waters College, The Art Institute of Jacksonville, Florida Coastal School of Law, Trinity Baptist College, and Jones College. Public schools in Duval County are controlled by the Duval County School Board. The county is home to four of the nation’s best high schools Stanton College Preparatory School, Paxon School for Advanced Studies, Samuel W. Wolfson High School, Mandarin High School, and Douglas Anderson School of the Arts.
University of North Florida
CONTACT
CBRE | INDUSTRIAL SERVICES
BOBBY GATLINGFirst Vice President+1 904 630 [email protected]
CBRE, Inc. | Licensed Real Estate Broker
www.cbre.com/NGWadeLand
© 2015 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.
