Building up a team, going through a merger, launching a new product, making a pivot are all things that can make or break a company.Throughout the year, we're checking in with First Coast executives who have made bold moves, and made them successfully.
Rich Antczak is a senior vice president at Newmark Phoenix Realty in Jacksonville. He specializes in the industrial sector and shared his insights on challenges from the past year, the market in 2023 and the industrial sector’s future in Jacksonville. It was really the limited availability of industrial products and trying to keep up with demand. For example, if we’re running with a client looking for a 100,000-square-foot building, we may only have three or four to choose from.
That’s why we’re seeing the amount of new construction reach a height it hasn’t reached before. We currently have 6.2 million square feet, about 5.5 million of that is hitting the market by Q2 of this year. It’s very encouraging because the growth in Jacksonville is tremendous. We have the tenants to bring to the market, but the availability is at times frustrating.We’re seeing a lot of third-party logistics companies trying to get space. Everyone is looking at Jacksonville.
The 3PL’s are trying to get a grasp of key locations. It’s encouraging that Jacksonville is on their radar.We encourage our clients to get ahead of the game, timing wise. We go into great detail on timeframes, what to look forward to, how much square feet they need, how much office space they need. We put together a construction and let them know what it’s going to take because we have limited availability right now.
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