The Jacksonville Port Authority Board of Directors on Monday unanimously approved a $210 million long-term lease and relocation agreement with Southeast Toyota Distributors, the world’s largest independent distributor of Toyota vehicles.
The company will move operations from its 50-acre facility at JaxPort’s Talleyrand Marine Terminal and an adjacent 23-acre private facility into a single 88-acre property at JaxPort’s Blount Island Marine Terminal, creating operational efficiencies and additional space for the company to accommodate more vehicles.
The agreement is for 25 years with renewal options. The public-private partnership includes a nearly $180 million lease with JaxPort and an additional $16.5 million from Southeast Toyota Distributors to modernize the Blount Island terminal. The Florida Department of Transportation will also provide a $16.5 million grant to assist with terminal development.Southeast Toyota Distributors will remain at its current Talleyrand location until construction on the new facility is complete in 2024.
In partnership with FDOT, $45 million in berth upgrades will soon be underway to enhance JaxPort’s vehicle capabilities at Blount Island. The upgrades include expanding one auto berth to accommodate two larger vehicle ships simultaneously instead of one and the expansion of a second berth to more efficiently accommodate the larger vehicle ships calling the terminal.
JaxPort is currently negotiating with a global vehicle manufacturer for use of the 50 acres at Talleyrand that will be vacated by Southeast Toyota Distributors
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