Merritt Properties to Expand Its Jacksonville Business Park Portfolio

Merritt Properties thinks it has a good thing going in Jacksonville and is going to stick with it. The company is expanding its current holdings at the Imeson Landing Business Park by acquiring 16 acres of land to build three additional flex/light industrial buildings totaling 114,500 square feet. Construction gets underway in 2024.

Situated at the corner of Imeson Park Boulevard and Zoo Parkway in Duval County, three buildings from an earlier phase at Imeson Landing Business Park delivered last month and are already 75 percent leased. Merritt’s Pat Franklin added, “Our expansion will allow us to continue to fill a void for newly constructed, Class A light industrial product while providing flexibility for growing companies of all sizes.”

So far, Merritt has signed nine leases with tenants ranging from 3,000 square feet to 29,000 square feet. Two more buildings start construction this year.

Once they complete the buildings from their latest land purchase, the development will feature 380,700 square feet across eight flex/light industrial buildings.