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Jacksonville Industrial Market Overview

  • Positive Quarterly Absorption Continues The market realized 35,362 SF of positive absorption in the second quarter of 2024, its fifth consecutive quarter of positive net absorption, bringing year-to-date total net absorption for the first half of 2024 to 879,144 SF.

  • Rents Climb Year over Year Overall rental rates climbed by 10.1% year over year to $9.89/SF.

  • Under-Construction Pipeline Ticks Up The construction pipeline recorded deliveries of 570,261 SF in the second quarter of 2024, with 6.0 MSF under construction, reflecting a 6.8% quarter-over-quarter increase and 10.8% year-over-year increase.

  • Vacancy Rates Increase Following new deliveries outpacing yearly demand in 2023 and the first half of 2024, vacancy increased by 30 basis points quarter over quarter to 4.3%.






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10739 Deerwood Park Boulevard

Suite 310

Jacksonville, FL 32256

Tel: 904-399-5222

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© 2023 Newmark Phoenix Realty Group

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