Pan American Companies, a longtime client of First American Bank, is deepening its footprint in Jacksonville’s booming industrial sector. Through Jax Industrial Three Ltd, Pan American is developing a large-scale logistics and warehouse project that builds on the success of two earlier ventures—Jax Industrial One and Two—previously financed by First American Bank.
The new project, strategically located on a 30-acre parcel adjacent to Jacksonville International Airport and just two miles from I-95, will include two state-of-the-art buildings totaling 425,000 square feet. The facilities—designed to be flexibly divided into units starting at 50,000 square feet—will meet the growing demand for distribution and logistics space in one of Florida’s key transportation hubs.
To fund the $38M+ development, Pan American secured a $30M, 24-month floating rate interest-only construction loan that will cover hard costs, from First American Bank. Importantly, the developer will only complete the building shells; any interior build-out will be handled by future buyers or tenants, streamlining delivery and reducing upfront risk.
This smart, layered financing solution empowers Pan American to bring the project to market within 13–15 months, while reinforcing a long-standing, trusted relationship with First American Bank. As demand for industrial space continues to rise across the Southeast, this development positions Jax Industrial Three—and Jacksonville—as a critical player in the region’s logistics future.
