Colliers Brokers Sale of 109,000 SF First Westlake Logistics Park Building to Petroleum Containment Inc.
JACKSONVILLE, FL — Colliers has completed the sale of approximately 109,000 square feet of industrial space at First Westlake Logistics Park, located at 9388 Pritchard Road in Jacksonville's Westside submarket. Petroleum Containment Inc. acquired the Phase I facility from developer First Gulf, with Guy Preston, Executive Vice President at Colliers, representing the seller in the transaction.
Deal Overview: First Gulf Converts Spec Development to User Sale
The sold building represents Phase I of First Westlake Logistics Park, a two-building industrial campus situated on approximately 53.87 acres within Westlake Industrial Park in West Jacksonville. First Gulf, a Toronto-based developer, acquired the land in July 2023 for $5.6 million and launched the project as its first industrial development outside Canada and its first U.S. industrial park investment. The company targeted an overall investment of more than $50 million across the two-building program.
City permitting records show a project cost of approximately $5.37 million for the Phase I speculative shell building. A building permit was approved in October 2024, with construction advancing through late 2024 and the facility targeting completion around mid-2025. The Colliers-announced sale, dated August 12, 2026, positions the transaction approximately one year after shell delivery — consistent with a speculative development strategy that secures a user once the building is complete.
Petroleum Containment Inc. secured the facility to support continued operational growth and to expand service capabilities throughout the region, according to Colliers.
Property Specifications and Location
The Phase I building features 32-foot clear height, 32 dock doors, and ESFR sprinkler fire protection. The property provides access to I-295, I-10, JAXPORT, Jacksonville International Airport, and CSX and Norfolk Southern intermodal facilities, positioning occupiers within regional and national distribution networks.
The broader First Westlake Logistics Park program encompasses two buildings totaling approximately 408,000 square feet. Phase II, planned at roughly 295,000 to 299,000 square feet, remains under development. According to Colliers, the successful Phase I sale has accelerated development plans for the next phase, which will add further industrial inventory to Jacksonville's Westside submarket.
Brokerage and Market Commentary
Guy Preston of Colliers represented First Gulf in the transaction. Preston holds the SIOR designation and is a member of Colliers' Logistics and Transportation Solutions Group.
"This transaction demonstrates the continued demand for high-quality industrial space in Northeast Florida," Preston said. "The property's strategic location, modern functionality and transportation access made it an ideal solution for the occupier's operational requirements. We continue to see strong demand from logistics, manufacturing and distribution users throughout the Jacksonville market."
The sale converts a speculative development into a user-controlled facility, validating First Gulf's entry strategy into the U.S. industrial market. The transaction also supports absorption in Jacksonville's Westside submarket, which has worked through a wave of recently delivered speculative supply alongside elevated metro-wide vacancy.
Phase II Expansion Ahead
With Phase I now sold, First Gulf's development program at First Westlake Logistics Park advances to its second building, planned at approximately 295,000 to 299,000 square feet. The next phase is intended to provide additional opportunities for logistics, manufacturing, and distribution occupiers seeking modern industrial space in Jacksonville's growing Westside corridor. The sale price for the Phase I transaction was undisclosed.
Sources: Colliers – Preston Industrial Team Brokers Sale of 109,000 SF Property