Firm buys 16 acres in Oakleaf for light industrial park

Merritt Properties, a full-service commercial real estate firm with over 21 million square feet of space throughout Maryland, North Carolina, Florida and Virginia, has successfully acquired 16 acres of land in Oakleaf to develop a 158,400-square-foot flex/light industrial business park. This marks the developer’s second speculative, flex/light industrial project in the market.

The development is situated just off the First Coast Expressway, within the boundaries of the 6,400-acre master-planned community of Oakleaf. The park will feature four single-story, flex/light industrial buildings ranging from 21,600 to 57,600 square feet. Each will offer 20-foot clear heights, ample parking and spacious truck courts.

“The business park will be a great home for small businesses given its position off the First Coast Expressway, near bustling residential areas, community recreation facilities and retail locations,” said Pat Franklin of Merritt Properties’ Florida leasing team.

Construction is expected to begin by the end of the year. The first phase will consist of three buildings along Armstrong Lane, just off the expressway.

“Clay County Economic Development Corporation is excited to partner with Merritt Properties as they expand their offerings into Clay County. We are thankful for Merritt leading the way with well-designed, well-positioned facilities that can meet the operational needs of a variety of tenants,” said Crawford Powell, president of Clay County Economic Development. “We look forward to seeing this project support the continued growth in Clay County as it is completed.”

The company’s first development in Jacksonville, Imeson Landing Business Park, is under construction with an expected November 2022 delivery. Once complete, the park will feature five flex/light industrial buildings totaling 266,200 square feet.