{"id":1004603023,"date":"2022-09-16T04:11:22","date_gmt":"2022-09-16T12:11:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004603023"},"modified":"2023-03-22T22:38:27","modified_gmt":"2023-03-23T06:38:27","slug":"north-signal-starts-work-on-jacksonville-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/north-signal-starts-work-on-jacksonville-project\/","title":{"rendered":"North Signal Starts Work on Jacksonville Project"},"content":{"rendered":"
\"\"<\/a>

Image by Tookapic via Pixabay.com<\/p><\/div>\n

North Signal Capital<\/strong> has started construction on a 422,136-square-foot Class A industrial building in Imeson Park, a submarket of Jacksonville, Fla.<\/p>\n

A joint venture between the company and Fox Capital Partners<\/strong> acquired the 40-acre lot in March of this year. Synovus Bank<\/strong> will provide construction financing for the project. The facility is slated for completion in August 2023.<\/p>\n

Designed for multiple tenants, North Signal\u2019s new development will feature  tilt-up concrete construction, ESFR sprinkler systems, 36-foot clear heights, mechanical dock levelers and seals, and 180 trailer parking spots. The building will also include an office component consisting of two 1,000-square-foot office units, located at both ends of the property. Located at 1000 Imeson Park Blvd., the development will be situated close to Interstate 95, Highway 17 and 9.2 miles from downtown Jacksonville.<\/p>\n

Evans General Contractors<\/strong> is the appointed contractor, leading the construction team that includes LS3P, OMNI Partners, England-Thims & Miller and LJB. JLL<\/strong> will oversee leasing, with a team formed of Managing Director Luke Pope and Vice President Ross Crabtree.<\/p>\n

Higher industrial demand<\/h2>\n

North Signal is developing some 6 million square feet in Jacksonville, Fla., Charleston, S.C., and Savannah, Ga., according to the company. Jacksonville\u2019s population is expected to grow with the in-migration of some 75 people per day in the next 5 years, while corporate employees are choosing Jacksonville over other markets with higher taxes and costs of living, thus making industrial demand higher, JLL\u2019s Luke Pope said in prepared remarks.<\/p>\n

Other recent deals in the region include LRC Properties and Machine Investment Group\u2019s $29.6 million acquisition<\/a> of 600 Whittaker Road, a 469,830-square-foot distribution center and Sealy and Co.’s $98 million purchase <\/a>of two Class A logistics facilities with a total of 841,849 square feet in Lakeland, Fla. In May, Hines began construction of its four-building Tampa Commerce Center, a Class A industrial park in Tampa, the company\u2019s first industrial project<\/a> in the area, expecting to exceed 600,000 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"

A speculative multi-tenant industrial building will soon rise in the city\u2019s Imeson Park submarket.<\/p>\n","protected":false},"author":2991,"featured_media":1004603071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,37756,1591,21742],"tags":[32796,44006,37540,38911],"class_list":["post-1004603023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-rc-investment","category-jacksonville","category-latest","tag-jll","tag-jll-capital-markets","tag-north-signal-capital","tag-synovus-bank"],"acf":[],"yoast_head":"\nNorth Signal Starts Work on Jacksonville Project - CPE<\/title>\n<meta name=\"description\" content=\"North Signal and Fox Capital Partners began construction for its 422,136-square-foot industrial project in Jacksonville, Fla.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/north-signal-starts-work-on-jacksonville-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North Signal Starts Work on Jacksonville Project\" \/>\n<meta property=\"og:description\" content=\"North Signal and Fox Capital Partners began construction for its 422,136-square-foot industrial project in Jacksonville, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/north-signal-starts-work-on-jacksonville-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-16T12:11:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-23T06:38:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/drawing-933207_1280-e1663324719164.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1065\" \/>\n\t<meta property=\"og:image:height\" content=\"798\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/north-signal-starts-work-on-jacksonville-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/north-signal-starts-work-on-jacksonville-project\/\",\"name\":\"North Signal Starts Work on Jacksonville Project - 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