Jacksonville Industrial Market Report

Market relieved by steep contraction in development. Completions in Jacksonville are expected to slow to the lowest level since 2018 in 2026. This comes at an opportune time, as an average of more than 5 million square feet has opened in the metro each of the previous three years, driving a 750-basis-point increase in vacancy during the period. At the same time, the average time to lease reached five months in early 2026, the highest level since mid-2021, reflecting slower absorption in select segments. Small-bay, pre-2000-built properties are experiencing the most pressure, though even newer sub-50,000-square-foot buildings reported net relinquishment in the first quarter. Meanwhile, port activity increased modestly in 2025, despite ongoing tariff headwinds, reflecting robust trade flows that have supported leasing activity for logistics-related demand. This has manifested in resilient net positive absorption of larger, primarily distribution, facilities.