Jacksonville Industrial Figures - Q1 2026

By Q1 2026, vacancy reached 11.3%, up 30 basis points quarter-over-quarter and 390 basis points year-over-year, while availability was 13.3%, down 0.3 percentage points from Q4 2025 but 3.5 percentage points higher than in Q1 2025. Net absorption totaled negative 317,000 sq. ft., a decline of 881,000 sq. ft. from the 564,000 sq. ft. recorded in Q4 2025 but a 501,000 sq. ft. improvement relative to Q1 2025. Average asking rents increased 0.1% quarter-over-quarter and 0.9% year-over-year.

Construction activity in Q1 2026 stood at 901,000 sq. ft. under construction, down 10.9% from Q4 2025 and 83.1% below the 5.3 million sq. ft. underway in Q1 2025. The number of projects under construction declined from 5 to 3 quarter-over-quarter and from 22 a year earlier. Deliveries were 110,000 sq. ft., 97.1% lower than the 3.8 million sq. ft. completed in Q4 2025 and 67.3% below the 337,000 sq. ft. delivered in Q1 2025, with 2 properties completing versus 15 in the prior quarter and 1 a year earlier.