3 quick takeaways from a week of granular conversations with industrial business owners/managers/operators in the Jacksonville, FL market. 80+ conversations can be summarized in the following:
- Businesses want to know what the economy is going to do over the next 3 – 5 years. They were inquisitive as to what the commercial real estate market is indicating.
- Businesses are aware of the challenges of finding new / expanded commercial space in the current market. Both lack of inventory available and higher prices per sq. ft.
- A decent percentage of businesses desire to expand their physical space in the next 3 years. Current storage/warehouse space is slowing growth.
The vast majority of the conversations I had were very open and transparent about their businesses. Businesses are looking for people and resources to help them solve problems or add value.