Multifamily Development Opportunity

Highlights:

• ACCESS TO DEMAND DRIVERS: The Jacksonville job market is experiencing significant growth in the western region, as numerous major employers establish facilities near 240 Normandy. Key players such as Amazon, Boeing, Wayfair, Jinko Solar, and Cecil Field are contributing to the strong regional demand. The logistical advantages offered by Jacksonville’s convenient interstate access, rail system, and thriving port are attracting corporations to the area. With the ability to reach a population of 60 million within an eight-hour drive, companies are recognizing the strategic benefits of the Jacksonville market.
• PROXIMITY TO DOWNTOWN: 240 Normandy presents an ideal opportunity for early entry into a submarket that is poised for significant development, as demonstrated by the influx of incoming employers. Situated just two minutes away from the new FL-23 (with a traffic volume of 15,500 vehicles per day) and less than ten minutes from I-295 (with a traffic volume of 125,500 vehicles per day), this location offers immediate access to downtown Jacksonville via I-10 and convenient connectivity to all major submarkets within the MSA. With its excellent accessibility, the site is strategically positioned to capitalize on the projected surge of growth in the area.
• PLAZA AT NORMANDY: The Plaza at Normandy, a new Publix-anchored shopping center, is located at the signalized intersection of Normandy Boulevard and Chaffee Road S, within a rapidly growing residential area with over 6,600 housing units under construction. In addition, Wawa is currently under construction and set to deliver within the next year.
• CECIL FIELD: The 832-acre Cecil Field Park, located just minutes from 240 Normandy, features amenities such as the Jacksonville Equestrian Center, an aquatics center, a gymnasium, two lighted youth baseball fields, two adult softball fields, one youth softball field, a basketball court, six lighted tennis courts, a football field, and an 18-hole golf course.
• AMAZON SORTATION & FULFILLMENT CENTER: In addition to the one-million SF Amazon Fulfillment Center that houses over 1,200 employees and sits minutes from 240 Normandy, Amazon is currently developing an additional 280,000 SF Sortation Center in the Cecil Commerce Park that is also a five-minute drive from the site. Amazon has opened or indicated plans to operate at least 12 additional locations in Jacksonville, including three large fulfillment centers; six delivery stations; a heavy bulk freight center; and two sortation centers.
• BOEING MAINTENANCE, REPAIR & OVERHAUL FACILITY: A new eight-hangar, 400,000 SF complex is home to a Boeing Maintenance, Repair, & Overhaul (MRO) facility. The groundbreaking facility is the aviation industry’s first “digitally enabled” MRO site. Boeing has created an additional 334 jobs at the facility.
• WAYFAIR FULFILLMENT CENTER: Wayfair’s fulfillment facility is located at Alliance Florida, at Cecil Commerce Center in west Jacksonville, and employs more than 250 people. The 80-acre center is valued at nearly $75 million, with Wayfair investing $50 million into real estate and over $20 million into machinery, equipment, furniture, and fixtures at the facility
• JINKO SOLAR: Jinko Solar, the world’s largest photovoltaic (solar panel) manufacturer, has their only factory in the U.S. just minutes from 240 Normandy. The company currently has over 280 employees in their 286,000 SF facility at the Cecil Commerce Center
• JACKSONVILLE FAIRGROUNDS: The Jacksonville Fairgrounds, currently under construction, has relocated from Downtown Jacksonville to a site next to the Jacksonville Equestrian Center, just minutes from 240 Normandy. The Fair Association leased 80 acres to build new fairgrounds with access to an additional 60 acres for future expansion.
• EXPANDING EDUCATION: After voters approved a half-cent sales tax in Duval County, the historic facilities improvement program has advanced the development and renovation of schools throughout the district. Chaffee Trail Middle School was recently constructed on Chaffee Rd, just minutes from 240 Normandy. KIPP Jacksonville Public Schools is currently constructing a 73,800 SF Impact Academy on 103rd Street, that will accommodate over 900 students.
• CECIL COMMERCE RAIL SPUR: Jacksonville will be constructing a rail spur to create railway access to the 600-acre Cecil Commerce Center. The project will increase accessibility to a large portion of the Center with the goal of creating attractive space for crucial sectors such as large industrial and manufacturing. The State of Florida has awarded a $5.5 million grant to assist with the project.
• EASE OF ACCESS: Major infrastructure upgrades are transforming West Jacksonville, enhancing commercial potential near Normandy Blvd and Chaffee Rd. I-10 lane expansions will ease congestion and improve logistics, while Chaffee Road enhancements near the intersection will boost accessibility for businesses and residents.

Description:

Matthews Real Estate Investment Services proudly presents the exclusive listing of a premier ±12.43 acre multifamily development opportunity at one of the major intersections on the Westside of Jacksonville. Boasting high visibility and strong demographics, the property is conveniently located near major thoroughfares, including I-295, Highway 23, and I-10, providing seamless connectivity to downtown Jacksonville, area employment hubs, and key retail and lifestyle destinations. With Jacksonville’s expanding population, robust economic growth, and increasing demand for quality housing, this development opportunity presents a prime investment in a flourishing market.

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