Why Jacksonville

Industrial Market Snapshot Q1 2025

Submarket Spotlight 20.2 MSF Manufacturing 4.4 MSF Office Services/Flex 91.9 MSF Warehouse/Distribution

301

17

95

1

SUPPLY & DEMAND

NORTHSIDE

10.0M

295

8.0M

301

6.0M

4.0M

CBD

2.0M

0.0M

WESTSIDE

10

WESTSIDE

90

95

2020

2021

2022

2023

2024

2025 YTD

SOUTHSIDE

BEACHES

53.5 MSF Inventory

7.7% Direct Vacancy

$6.74 Direct Rent (FS PSF)

Leasing Activity

Construction Completions

Overall Absorption

295

295

NORTHSIDE

23

32.7 MSF Inventory

5.4% Direct Vacancy

$9.21 Direct Rent (FS PSF)

DIRECT RENTAL & VACANCY RATES

17

SOUTHSIDE

$ 10

1

8 %

301

228

19.4 MSF Inventory

4.8% Direct Vacancy

$9.10 Direct Rent (FS PSF)

$ 8

95

6 %

$ 6

ST. JOHNS COUNTY

ORANGE PARK / CLAY COUNTY

4 %

$ 4

CBD

2 %

$ 2

5.7 MSF Inventory

1.1% Direct Vacancy

$10.07 Direct Rent (FS PSF)

$ 0

0 %

1Q20

1Q21

1Q22

1Q23

1Q24

1Q25

Direct Rental Rate

Overall Vacancy

ORANGE PARK/CLAY COUNTY 2.5 MSF Inventory 15.0% Direct Vacancy $7.19

Direct Rent (FS PSF)

Cushman & Wakefield | Why Jacksonville