JAXPORT on Monday announced its Board of Directors unanimously approved a long term, 30-year agreement with U.S. marine terminal and logistics company Enstructure for the lease and development of 79-acres of waterfront property at the port’s Talleyrand Marine Terminal.
Enstructure is the parent company of Jacksonville-based Seaonus Stevedoring, a current JAXPORT tenant operating 35 acres of adjacent space at the port's Talleyrand terminal. Seaonus has been a JAXPORT tenant for 27 years. Combined with its current acreage, the new agreement will provide Enstructure with a total of 115 acres at the Talleyrand terminal.
Enstructure will begin leasing the new acreage in late 2025 when the current tenant, Southeast Toyota Distributors, relocates to the port’s Blount Island Marine Terminal. The 79-acre Talleyrand property will be a mixed-use facility with the flexibility to move multiple cargo types, including breakbulk, dry bulk, vehicles, and containers.
Matthew Satnick and Philippe De Montigny, Co-CEOs of Enstructure, said, “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.”
The agreement calls for Enstructure to develop at least 200,000 square feet of new on-terminal warehousing at Talleyrand. The additional warehousing will increase JAXPORT’s on-terminal covered capacity to handle non-containerized cargo such as forest products by 20 percent.
The agreement includes a $136 million lease with JAXPORT over the term of the contract.
JAXPORT CEO Eric Green said, “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.”
Expanding capacity for breakbulk and bulk products is one of the key strategies outlined in JAXPORT’s five-year Strategic Master Plan.