Jacksonville Industrial Figures - Q3 2026

In Q3 2026, market conditions showed early signs of stabilization after a prolonged period of softer occupancy. The earliest period provided was Q3 2023. From that point to the current quarter, the vacancy rate rose 570 basis points. Over the same span, the availability rate increased 590 bps, signaling more space was marketed for lease.

Average asking rents grew 11.3%, indicating that pricing remained resilient despite softer occupancy. Year-over-year, under construction space declined by 3.0 million sq. ft., narrowing the pipeline of upcoming completions.

Within the current quarter, operating fundamentals improved as strong net absorption coincided with moderating vacancy and a smaller development pipeline. Net absorption reached 2.1 million sq. ft., indicating that occupiers took more space than they returned.

Vacancy ended the period at 10.5%. Availability finished at 12.4%. Quarter-over-quarter, vacancy was 100 bps lower, reinforcing the sense of emerging stabilization. Quarter-over-quarter, the change in availability was a modest decline of 20 bps, suggesting supply pressure began to ease.

Average asking rents rose 1.0% year-over-year and were broadly stable quarter-over-quarter, consistent with gradual pricing adjustment. Under construction space totaled 1.8 million sq. ft., highlighting the smaller pipeline now in place. Deliveries in the quarter amounted to 901,000 sq. ft., adding new space to the inventory.

Leasing remained active, with three large new leases in the sample totaling 1.0 million sq. ft. ID Logistics Warehousing, FCP Euro, and Eucatex of North America anchored this new demand in the Westside and Northside submarkets.