{"id":1004697200,"date":"2024-01-11T02:56:48","date_gmt":"2024-01-11T10:56:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004697200"},"modified":"2024-01-11T02:56:50","modified_gmt":"2024-01-11T10:56:50","slug":"pccp-jv-to-develop-337-ksf-jacksonville-industrial-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pccp-jv-to-develop-337-ksf-jacksonville-industrial-facility\/","title":{"rendered":"PCCP JV to Develop 337 KSF Jacksonville Industrial Facility"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1aecc34da1b&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1105\" height=\"828\" data-attachment-id=\"1004697204\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pccp-jv-to-develop-337-ksf-jacksonville-industrial-facility\/westlake-industrial-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Westlake-Industrial-Park-.jpg\" data-orig-size=\"1105,828\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Westlake Industrial Park\" data-image-description=\"&lt;p&gt;PCCP LLC has partnered with Midwest Industrial Funds for the development of a 337,000-square-foot facility within Westlake Industrial Park in Jacksonville, Fla. &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 337,000-square-foot facility is the first phase of a two-building development that is expected to measure some 530,000 square feet. Image courtesy of PCCP LLC&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Westlake-Industrial-Park-.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Westlake-Industrial-Park-.jpg\" alt=\"Rendering of the upcoming 337,000-square-foot facility in Jacksonville, Fla. \" class=\"wp-image-1004697204\" style=\"aspect-ratio:4\/3;object-fit:cover;width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Westlake-Industrial-Park-.jpg 1105w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Westlake-Industrial-Park-.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Westlake-Industrial-Park-.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Westlake-Industrial-Park-.jpg?resize=1024,767 1024w\" sizes=\"auto, (max-width: 1105px) 100vw, 1105px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 337,000-square-foot facility is the first phase of a two-building development totaling 530,000 square feet. <em>Image courtesy of PCCP LLC<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture of <strong>PCCP<\/strong> and <strong>Midwest Industrial Funds<\/strong> has broken ground on a 337,000-square-foot speculative facility within Westlake Industrial Park in Jacksonville, Fla. Completion is scheduled for December.<\/p>\n\n\n\n<p>The developer acquired the land at the end of last year for $3.5 million and took out a $19.3 million construction loan from <strong>CIBC Bank<\/strong>, according to public records. The note is set to mature in December 2026.<\/p>\n\n\n\n<p>Partners on the project include general contractor <strong>ARCO Design\/Build<\/strong> and architecture firm <strong>ADB Design Services<\/strong>, <em>Jacksonville Daily Record<\/em> reported. <strong>England-Thims &amp; Miller<\/strong> <strong>Inc.<\/strong> is the civil engineer, while <strong>Colliers<\/strong> Senior Vice President Guy Preston and Associate Seda Preston will take care of leasing.<\/p>\n\n\n\n<p>The Class A warehouse will feature 36-foot clear heights, 190-foot truck court and 72 dock-high loading doors. Additionally, the rear-load facility will comprise 245 vehicle parking spaces and 97 trailer stalls. Plans also include a second, adjacent building set to measure about 193,000 square feet, bringing the total project cost to $60.4 million, Colliers marketing materials show.<\/p>\n\n\n\n<p>The 33-acre site is at the junction of Pritchard Road and Jones Road, 4 miles from Interstate 295. The development is 14 miles from downtown Jacksonville and Jacksonville International Airport, while the Port of Jacksonville is some 12 miles southeast.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-pccp-s-growing-industrial-pipeline\">PCCP\u2019s growing industrial pipeline<\/h2>\n\n\n\n<p>The news comes on the heels of PCCP\u2019s joint venture with Panattoni Development Co. and Hunt Cos. for the development of Project Grande, <a href=\"https:\/\/www.commercialsearch.com\/news\/pccp-jv-to-develop-940-ksf-industrial-project-in-el-paso\/\">a 939,612-square-foot industrial development <\/a>in El Paso, Texas. The project is scheduled to come online in the second half of this year.<\/p>\n\n\n\n<p>In September, the firm partnered with BBX Logistics Properties to develop <a href=\"https:\/\/www.commercialsearch.com\/news\/bbx-logistics-pccp-plan-miami-area-industrial-park\/\">a 40-acre logistics park<\/a> in Delray Beach, Fla. BBX Park at Delray will consist of three buildings totaling 672,533 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CIBC Bank provided a $19.3 million construction loan.<\/p>\n","protected":false},"author":3355,"featured_media":1004697204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,1591,21742,32781],"tags":[51642,44945,35498,35783,33053],"class_list":["post-1004697200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-jacksonville","category-latest","category-southeast","tag-arco-design-build","tag-cibc-bank","tag-colliers","tag-midwest-industrial-funds","tag-pccp-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PCCP JV to Develop 337 KSF Jacksonville Industrial Facility - 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