North Florida Top Stories

Flagler closes 78,000sf lease at Deerwood South

Thursday, July 29th, 2010

JACKSONVILLE - Flagler announced that Adecco Group North America, part of the world's largest recruitment and workforce solutions provider, has signed a long-term lease for office space at Deerwood South business park at 10151 Deerwood Park Blvd. in Jacksonville. The 78,292sf lease will commence in the spring of 2011.

Flagler's senior director of leasing, Gary Cox, represented Flagler in the transaction. Jim Sebesta of Grubb & Ellis/Phoenix Realty Group Inc. represented Adecco.

Jax office market stabilizing

Tuesday, July 27th, 2010
By: 
CB Richard Ellis

JACKSONVILLE - The Jacksonville office market continues to gain strength as the market starts to show signs of stabilization in 2Q10, with the total vacancy rate holding steady at 23% in the second quarter and the quarter closing with positive absorption.

The office market is starting to see more single-tenant buildings being converted to multitenant buildings, expanding options for tenants.

Jax industrial records positive absorption

Tuesday, July 27th, 2010
By: 
CB Richard Ellis

The Jacksonville industrial market vacancy rate remained steady at 11.1% as 2Q10 came to an end. The bulk of the available industrial space is within the Northside submarket, followed by the Westside and Southside submarkets, respectively.

The stated lease rate decreased by $0.27 this quarter, standing at $4.46 NNN psf versus $4.73 NNN psf last quarter.

LandSouth: Integra Springs at Kellswater Bridge

Friday, July 23rd, 2010

JACKSONVILLE BEACH - LandSouth Construction, a Jacksonville-based general contractor specializing in multifamily developments, and developer Integra Land Company have completed the clubhouse and first apartment building at Integra Springs at Kellswater Bridge, a Class A luxury apartment community in Kannapolis, N.C.

Phoenix Realty marks 254,000sf sale

Thursday, July 22nd, 2010

JACKSONVILLE - Grubb and Ellis|Phoenix Realty Group announced the investment sale of 254,297sf at 6831-35 Stuart Avenue and 6830 Highway Avenue to the Paul and Eleanor Sade Trust for $10,650,000. Bobby Gatling, Bryan Bartlett, SIOR, and John Richardson, SIOR, represented the seller, Ascension I Jax LLC. Bob Miller of Miller International represented the buyer.

Stellar breaks ground on military projects

Thursday, July 22nd, 2010

JACKSONVILLE - During the second quarter of 2010, Stellar, a construction, design, engineering and mechanical services firm, broke ground on three projects for the U.S. Army Family Morale, Welfare and Recreation Command (FMWRC) as part of its Nonappropriated Fund (NAF) indefinite quantity/indefinite delivery (IDIQ) contract.

All of the design-build projects that broke ground in the second quarter of 2010 are for the U.S. Marine Corps, the largest of which is an Exchange in Camp Lejeune, N.C.

Ervin Lovett Miller: OakLeaf fitness center

Tuesday, July 20th, 2010

JACKSONVILLE - The environmental design firm of Ervin Lovett Miller has completed the schematic designs for a new 4,000sf fitness center at OakLeaf Plantation. The fitness center is designed to accommodate the growth within the community as well as complement the existing amenities at OakLeaf Plantation Athletic Center, which was also designed by Ervin Lovett Miller in 2004 and includes an expansive water park, 12,000sf clubhouse, tennis garden, children's play area, formal lawn, two regulation-sized basketball courts and baseball/softball fields.

Breaking Ground earns 2 Green awards

Monday, July 19th, 2010

JACKSONVILLE - Breaking Ground Contracting received two awards from U.S. Green Building Council North Florida for Corporate Responsibility and Community Leadership. The annual Innovation Awards celebrate sustainability in action in North Florida and recognize those committed to building a sustainable community through their work in the built environment.

US Industrial REIT III buys GE Distribution Center

Friday, July 16th, 2010

JACKSONVILLE - US Industrial REIT III announced the recent purchase of the General Electric Distribution Center at 600 Whittaker Road in Jacksonville. The facility was purchased from I&G UOC Jacksonville LLC. Frank Fallon, Chris Riley and Nathan Rogers of the CB Richard Ellis Atlanta office represented the seller. The purchase price was not disclosed.

Liberty Jax office earns Rouse Award

Wednesday, July 14th, 2010

JACKSONVILLE - Liberty Property Trust announced that it has received the 2009 Rouse Award. The award seeks to identify and recognize the top performing Liberty office in the past year.

In 2009, the Jacksonville office leased nearly 500,000sf office and industrial space, while maintaining low operating costs, exceeding net operating income targets and completing more than 19 tenant improvement projects. In addition, the company completed several building common area improvement projects.