Capitol Development International managing partner Jim Brady tells GlobeSt.com that the project is a land development project, whereby Capitol will construct the roads and infrastructure on the site and then either sell individual parcels or develop them as build-to-suit projects. The site is currently divided into nine parcels, although parcels may be combined to accommodate larger projects. Prices for the parcels range from $435,000 to $1.5 million. "We have very broad zoning on this site so it could accommodate a range of uses," Brady says.

Colliers Dickenson broker Jason Ryals is handling the leasing for the project. Among the types of tenants that have expressed interest in the site include restaurants and paint companies. "We're currently in negotiations with three potential buyers," Brady says.

It is located in an area that is seeing growth. OakLeaf Plantation, a 6,400-acre master-planned community is located a few miles away. Traffic counts on the section of Blanding Boulevard where the project will be located are approximately 48,000 cars per day, and Old Jennings Road approximately 3,000 per day. "With Old Jennings Road changing to CR 209, it will serve as the major thoroughfare as a four-lane highway to Green Cove Springs," Brady says. "We estimate that traffic counts will increase substantially."