Southeast Toyota Distributors (SET) signed a $210 million lease to consolidate operations at the Jacksonville Port Authority, which will allow the company to handle more vehicles.
The distributor, which currently uses two port terminals for its operations, will relocate to an 88-acre facility at Blount Island Marine Terminal that’s slated for completion in 2024. The move will create space to accommodate more vehicles and strengthen operational efficiencies, according to a release.
The Florida Department of Transportation will provide a $16.5 million grant to assist with terminal development. Upgrades include a berth expansion to accommodate two larger vehicle ships instead of one. As part of the agreement, SET will provide an additional $16.5 million to upgrade two processing buildings, associate work areas, a new on-site rail connection and truck loading areas on Blount Terminal Island.
“This public-private partnership, along with the investments being made in the terminal by FDOT, allow us to build on our position as one of the country’s top vehicle-handling ports and meet the growing demand for vehicles in Florida and throughout the nation,” Jaxport CEO Eric Green said in a statement.
SET moved about 157,000 vehicles through Jacksonville’s port in 2021, according to the release. Currently, SET operates a 50-acre facility at the port’s Talleyrand Marine Terminal and an adjacent 23-acre private facility.
Jaxport is also negotiating with another global auto manufacturer to use the auto processing facility that SET will vacate once construction at Blount Island Terminal is complete.