It's been a tough start to the year for industrial performance in Jacksonville. The city had -261,925 square feet of absorption in the first quarter, marking the first time since 2019 that the category slipped to negative territory, according to a market analysis report from CBRE.
That came as major tenants including Southeast Toyota, Confidential, DL Cabinetry, and Miami Warehouse Logistics vacated 114,645 square feet, 120,711 square feet, 108,000 square feet, and 80,000 square feet, respectively. That in part played a role in the total vacancy in the market increasing 180 basis points year-over-year to reach 6.9 percent. Another reason for the vacancy was construction completion totaling 4.3 million square feet, with 2.7 million square feet left unoccupied, according to CBRE.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
