Plans were submitted this week for Durbin Creek Crossing, a mixed-use development at the corner of Race Track Rd. and St. Johns Pkwy. in northern St. Johns County.
Those plans show ten different outparcels available for commercial development, along with 31 acres set aside for residential development.
Multiple tenants have been announced for the project, including ALDI, ABC Fine Wine & Spirits, Circle K, Florida First Credit Union, and Tire Kingdom. The residential component of the project is expected to deliver 400 multifamily units in the form of apartments and townhomes.
The project will be located down the street from the first phase of Durbin Park.
Colliers International Northeast Florida recently released its quarterly office and industrial reports for the third quarter.
The reports show that, despite slight rises in vacancy, both office and industrial leasing rates have increased. Average industrial rent is up to $6.50 per square foot, while office rent is at $20.94 per square foot on average. The industrial rent number is up 6.2% from the same time last year.
Much of the increase in price can be attributed to the addition of several new industrial and office developments. This can also explain the rise in vacancies, as some of that new space is still in the process of being leased.
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