JAXPORT inks lease with Enstructure for $136M near downtown

JAXPORT approved a new 30-year lease deal with Enstructure that will add more covered cargo capacity at Jacksonville's Talleyrand Terminal near downtown. Photo provided by JAXPORT

Northeast Florida’s main port operations will soon be expanding cargo capacity on 79 acres of riverfront property near downtown Jacksonville after a substantial public-private partnership was announced this week.

JAXPORT, Jacksonville’s port authority, approved a 30-year lease agreement with logistics company Enstructure LLC. The terms call for a notable $136 million lease payment to JAXPORT over the length of the agreement.

The deal clears the way for development of a substantial 79-acre tract of land in the Talleyrand Marine Terminal on the St. Johns River, just northeast of downtown and within eyeshot of EverBank Stadium, which is home to the NFL’s Jacksonville Jaguars.

Enstructure Co-CEOs Matthew Satnick and Philippe De Montigny issued a prepared joint statement on the deal, noting the company has a long-standing association with JAXPORT dating back 27 years. Enstructure is the parent company of shipping firm Seaonus Stevedoring, which already has operations on an existing 35 acres of land at the Talleyrand facility.

“We are excited to build upon our partnership with JAXPORT and invest further into the high-growth Jacksonville market,” said Satnick and De Montigny. “Expanding our Talleyrand Marine Terminal operations is a strategic priority for Enstructure and we look forward to working closely with the JAXPORT team to further diversify our cargo mix.”

While the lease was approved this week, it goes into effect in 2025 after the current tenant on the 79-acre site, Southeast Toyota Distributors, relocates its operations to what’s known as JAXPORT’s Blount Island Terminal. That’s several miles northeast of downtown Jacksonville and only a few miles from the mouth of the St. Johns River.

As part of the lease deal, Enstructure will build a 200,000-square-foot terminal on the site. The facility will increase JAXPORT’s capacity to handle covered non-containerized cargo at Talleyrand by 20%.

The deal also represents a component of the Jacksonville government’s five-year strategic plan in expanding cargo services in the city. The Talleyrand area is also being targeted for urban redevelopment and improvements.

“Any investment that benefits our underserved communities is an accomplishment worth celebrating. (This week’s) agreement is both a win for our port and a win for our community,” said Jacksonville Mayor Donna Deegan.

JAXPORT officials also noted the Enstructure deal adds substantial diversity to an already bustling port facility at Talleyrand.

“Enstructure is one of our longest standing tenants and we are proud to support their continued success in Jacksonville,” said JAXPORT CEO Eric Green. “This agreement allows us to build on our cargo diversification, while also supporting the growth of an experienced terminal operator that has contributed so much to the growth of our port.”

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Drew Dixon’s spouse is an employee of Deegan’s administration in Jacksonville.