http://jacksonville.bizjournals.com/jacksonville/stories/2009/02/02/daily50.html
QuoteIn what promises to be one of the nation’s largest industrial portfolio sales by square footage, real estate titan ProLogis (NYSE: PLD) is selling 33.23 million square feet nationwide. ProLogis, which has holdings in Jacksonville and is considering bidding to be the master developer of Cecil Commerce Center, is not shedding any of it [sic] local properties.
Is this a good sign for Jax that they are not trying to sell any local holdings while they put millions up for sale in Chicago, DC, Seattle, San Francisco, Denver, etc? Or does that just mean they don't think they could get anything for their local space? If they are in fact looking to develop Cecil, I would think this is a good indication for our market.
Because of the recent port expansions as well as the other expansions lining up, I'd say Jax is a strong market for warehousing and distribution.
I wonder what they could do with Cecil.
I suspect this has to do with the port. Has anyone seen the new container terminal in the last few days? Looks like it's EXPANSION time already! Holy Crap Batman, what a bunch of boxes.
Whoever get's Cecil Field, should rebuild the railroad branchline under a private terminal company and push it BEYOND the CSX to connect with NS, and thus serve all three carriers in the city. Now THAT would make industry take notice.
OCKLAWAHA