Jacksonville, FL Industrial Market Report Q3 2026

Jacksonville industrial vacancy loosened 264 basis points to 9.9% in Q3 2026, yet trailing-12-month sales volume rose 89% to $1.8B as investors kept buying. Net absorption was negative 751,000 square feet (SF) in Q3, but trailing-12-month absorption of 1.76M SF is positive versus negative 563K SF a year earlier. Asking rent of $10.05/SF is up 0.7% year over year and within 1% of the Q2 2026 peak, and the average cap rate has fallen to 7.15% for a seventh straight quarter. This Matthews™ Jacksonville, FL Industrial Market Report Q3 2026 covers demand, supply, pricing, and investment sales across 11 submarkets so owners, investors, and tenants can see where Jacksonville industrial real estate is holding up.

Key Findings

• Vacancy is 9.9%, 264 bps looser than Q3 2025, with Baker County the tightest submarket at 0.0% and Northeast the loosest at 27.3%.
• Q3 net absorption was -751K SF versus -470K SF a year earlier, while trailing-12-month absorption improved to 1.76M SF from -563K SF.
• Asking rent of $10.05/SF is up 0.7% year over year, and Northeast leads rent growth at +1.8%.
• Q3 deliveries totaled 708K SF. Trailing-12-month deliveries of 6.87M SF are up 56%, and annual deliveries peaked at 8.51M SF in 2025.
• Investors recorded $1.8B in Jacksonville industrial sales over the trailing 12 months (+89%), with pricing at a record $117/SF.

Jacksonville Industrial Supply & Demand Dynamics

What is happening with industrial demand in Jacksonville?

Jacksonville posted net absorption of -751K SF in Q3 2026, against -470K SF in the same quarter last year. Over the trailing 12 months, absorption of 1.76M SF compares with -563K SF a year earlier. Vacancy of 9.9% is 264 basis points looser than Q3 2025, and asking rent of $10.05/SF sits within 1% of the Q2 2026 peak of $10.12/SF.

How much new industrial supply is under construction in Jacksonville?

Jacksonville delivered 708K SF in Q3 and 6.87M SF over the trailing 12 months, up 56% from the prior 12-month period. Space under construction equals 1.5% of inventory and is concentrated in the Northeast submarket, where it represents 14.9% of existing stock. The 2.55M SF pipeline equals about six quarters of absorption at the trailing pace.

Jacksonville Industrial Investment Market

What are Jacksonville industrial cap rates and pricing?

Jacksonville industrial cap rates average 7.15%, down for seven straight quarters and 58 basis points below the Q1 2015 high of 7.73%. Pricing sits at a record $117/SF, higher for 14 consecutive years. Sales volume reached $1.8B over the trailing 12 months, up 89% from the prior period, with $388M closing in Q3. Even with higher vacancy, falling cap rates and record pricing show strong buyer demand for Jacksonville industrial assets.

Jacksonville Industrial Submarket Highlights

Vacancy is lowest in Baker County (0.0%), East Jacksonville (1.9%), Mandarin (4.5%), and Orange Park/Clay County (4.8%). It is highest in Northeast (27.3%), St Johns (15.7%), West Side (11.8%), and North Jacksonville (11.6%). Rent growth is led by Northeast (+1.8%), Mandarin (+1.7%), St Johns (+1.3%), and Southside/Butler Corridor (+1.2%). Nassau County is the only submarket with negative rent growth, at -0.4%.

Jacksonville Industrial Market by the Numbers

• Vacancy: 9.9%
• Average asking rent: $10.05/SF (+0.7% year over year)
• Q3 2026 net absorption: -751K SF
• Trailing-12-month deliveries: 6.87M SF
• Under construction: 1.5% of inventory (2.55M SF)
• Trailing-12-month sales volume: $1.8B (+89%)
• Average cap rate: 7.15%
• Price per SF: $117

Jacksonville Industrial Market FAQs

What is the Jacksonville industrial vacancy rate in Q3 2026?

The Jacksonville industrial vacancy rate is 9.9% in Q3 2026, up 264 basis points from Q3 2025.

What is the average industrial rent in Jacksonville?

Average asking rent in Jacksonville is $10.05/SF in Q3 2026, up 0.7% year over year.

Which Jacksonville submarket has the lowest industrial vacancy?

Baker County has the lowest industrial vacancy at 0.0%, followed by East Jacksonville at 1.9%.

What is the average industrial cap rate in Jacksonville?

The average Jacksonville industrial cap rate is 7.15% in Q3 2026, down for seven consecutive quarters.

Previous Jacksonville Industrial Market Reports

Compare this quarter with the prior one: read the Jacksonville, FL Industrial Market Report Q1 2026.

The bottom line for owners: record pricing and an 89% jump in sales volume favor sellers, but 9.9% vacancy and a 2.55M SF pipeline mean tenants have leverage, especially in the Northeast submarket. Download the full report above for submarket charts and detail, or contact Maxx Bauman, Managing Director in Jacksonville, to discuss your property.

Sources: Matthews™ Research, CoStar Group, Inc., RCA, and BLS. Information is for reference only. Sources deemed reliable but not verified.