Merritt Properties, a commercial real estate firm with over 21 million square feet of space throughout Maryland, North Carolina, Florida and Virginia, has acquired 16 acres of land in Jacksonville, Fla. for the development of a 158,000-square-foot flex and light industrial business park.
The park will feature four single-story, flex and light industrial buildings ranging from 21,600 to 57,600 square feet. Each will offer 20-foot clear heights, parking and truck courts. This is the developer’s second flex and light industrial project in the market.
“Newly constructed, Class A light industrial product is challenging to find within the market, which is why this speculative development will be a desirable addition to the local area and to our existing Jacksonville portfolio,” comments Gary Swatko, director of development and construction at Merritt Properties. “The park’s location, size and design will uniquely accommodate the needs of small to mid-sized users and provide flexibility for future growth.”
Watson Commercial Realty Inc. represented Merritt and O’Connor Development Corp. represented the seller in the transaction.