North Florida Top Stories

Retail sector active in South Jax, M&M says

Tuesday, March 31st, 2009

JACKSONVILLE - While job losses will dampen retail demand and place upward pressure on vacancy in 2009, Jacksonville’s diversified employment base supports a fairly favorable long-term outlook, according to the 2009 National Retail Research Report by Marcus & Millichap.

NEFAR sets bass tournament

Monday, March 9th, 2009

JACKSONVILLE - For the sixth consecutive year, the Northeast Florida Association of Realtors will raise funds for Haven Hospice Roberts Care Center in Palatka through a catch-and-release Charity Bass Fishing Tournament on April 25. NEFAR donates 100% of all proceeds raised to Haven Hospice, with more than $92,000 having been donated during the past five years.

CBRE leases 270,000sf to Michaels Stores Inc.

Monday, March 9th, 2009

JACKSONVILLE - CB Richard Ellis represented Michaels Stores Inc. in the lease transaction of 270,000sf at 4300 Bulls Bay Highway inside the Westside Industrial Park in Jacksonville.

The team of Terry Quarterman, first vice president, and Jeff Nelson, senior associate, of CB Richard Ellis in Jacksonville represented the company in the transaction.

Michaels is scheduled to occupy the building this summer and will be using the space for their seasonal goods distribution center.

Eola, Counts RE ink management pact

Wednesday, February 18th, 2009

PANAMA CITY BEACH - Eola Capital, an Orlando-based real estate investment company, will work with Counts Real Estate Group to lease space in its Panama City Beach properties, which include Beckrich One and Two in the Beckrich Business Park. Chris McCall, senior associate in the commercial division of Counts Real Estate Group, has been named office leasing agent.

NE FL home sales post more gains

Tuesday, February 17th, 2009

JACKSONVILLE - The Northeast Florida Association of Realtors announced real estate statistics for January 2009, based on data compiled from NEFAR’s wholly owned subsidiary, the Northeast Florida Multiple Listing Service.

Home sales in the Northeast Florida region posted their second consecutive month of increase compared to a year ago. January saw 1,060 newly signed purchase agreements (pending sales), up a healthy 19.5% from one year ago. The Housing Affordability Index (HAI) rose nine points; up from 149% in December to 158% in January.

Stiles, Hallmark open Shoppes at Murabella

Friday, February 13th, 2009

JACKSONVILLE - Stiles Corp. and Hallmark Partners recently announced the opening of The Shoppes at Murabella, a 77,580sf retail center anchored by Publix’s 1,000th store. Located at SR 16 and Pacetti Road in St. Johns County, the development is the fast-growing local area’s first major retail center.

Located between Jacksonville and St. Augustine, the new shopping center is next to the Murabella master planned community and 2.5 miles from World Golf Village, a large-scale recreational, commercial and residential development.

Resales, foreclosures set to limit new home demand

Thursday, February 5th, 2009
By: 

Metrostudy

JACKSONVILLE - The Jacksonville Metropolitan Statistical Area lost 15,400 jobs during the 12 months ending in December, for an annual decline of 2.4%, said Anthony Crocco, director of Metrostudy’s North and Central Florida divisions, at Metrostudy’s quarterly housing industry briefing. The construction and professional and business sectors continue to exhibit the greatest losses, decreasing by 3,700 jobs (7.7%) and 4,700 jobs (5%), respectively.

Record absorption in Jax industrial market

Wednesday, February 4th, 2009
By: 

CB Richard Ellis

JACKSONVILLE - Although leasing activity continued to remain slow through the end of 2008, net absorption remained positive at 632,000sf. Included in net absorption in the fourth quarter is the occupancy of Volkswagen at 1 Perimeter Parkway at 260,000sf and Georgia Pacific at 546,000sf.

The average NNN asking rate for all types of available industrial space remained under $5 psf in the last quarter of the year.

M&M: Outlook bright long term for Jax apts.

Thursday, January 29th, 2009

JACKSONVILLE - While the performance of Jacksonville’s apartment market will moderate through 2009, the extended outlook remains fairly bright, according to the 2009 National Apartment Report by Marcus & Millichap.

“The local apartment market will continue to present opportunities for investors,” says David Bradley, sales manager of Marcus & Millichap’s Jacksonville office.

Following are some of the most significant aspects of the latest Jacksonville Apartment Research Report:

- Employers are expected to decrease payrolls 1.1% in 2009, shedding 6,500 positions.

Alenia to build 300,000sf center

Monday, December 22nd, 2008

JACKSONVILLE - Mayor John Peyton announced that Alenia North America Inc. will build a final assembly and delivery center for the C-27J Spartan cargo plane at Cecil Commerce Center.

Alenia plans to add 300 new jobs paying an average wage of $55,000 to the local market. The company also expects to invest approximately $104 million in new, private capital and construct a building greater than 300,000sf.