Monthly Archives: October 2014
Jensen Werley of the JAX Business Journal reports that JAXPort’s container volume from Asia is up 20% year-over-year.
While Peter Rummel is working on his plan for HealthyTown on the Southbank JEA site, Shad Khan is working on a plan across the river on the former shipyards site on the north side of the river. Timothy Gibbons of the JAX Business Journal has the story and insights into the likely mixed-use development Khan has planned there.
Carole Hawkins of The JAX Daily Record provides a brief summary on the local economy and real estate markets after attending Coldwell Banker Commercial Benchmark’s first annual Real Estate Trends Conference where Paul Mason, economics professor at UNF spoke. In summary, locally, JAX retail sales are up, inflation is low, jobs are being created and unemployment is falling. There is also an enlightening comparison of energy (gas) costs and interest rates and their impact on our disposable income; with gas around $3/gallon vs $4, that means more income to spend; same as if your adjustable mortgage goes down, more money to spend to pump into the economy. Plus a mention of the 76 million Millenials and their influence on the next generation and the systemic shift of e-commerce in retail.
In one of the worst kept rumors in recent memory, the 630k SF Riverplace Tower on the SouthBank remains under contract to Lingerfelt Companies out of Richmond, VA. Karen Brune Mathis of The JAX Daily Record has the reminder.
Western Way, that road that parallels I-95’s eastern side from Baymeadows Road down to Southside Blvd., is transitioning into upgraded buildings with new tenants, some renovations or upgrades and even some re-uses of existing buildings, such as converting a 1-story office complex into self-storage. Karen Brune Mathis of The JAX Daily Record has the story and the evolving revolution of Western Way.
After a complete tear-down/re-build, a new and expanded (by 15k SF) Publix at Cobblestone Crossing at Monument Road and McCormick Road in East Arlington area re-opens today. Roger Bull of The Florida Times-Union has the announcement.
Colliers International Northeast Florida brokers won 17 awards, more CoStar Power Broker awards than any other firm; the next closest was 8. We also earned an award for being Top Sales Firm and Top Leasing Firm. I am very proud to be part of the Colliers JAX team.
Regency Centers has just announced two new tenants for their Brooklyn Station on Riverside, anchored by The Fresh Market. Hyppo Gourmet Ice Pops and a new nail salon have been announced as new tenants in 2015. Roger Bull of The Florida Times-Union has the announcement.
The JAX Port Authority finalized a contract to have three new cargo cranes for post-Panamax ships to be in operatons at Blount Island terminal by 2016, part of JPA’s long-term strategic plan to have 10 larger 100-gauge cranes to reach further across a ship’s deck for containers. Nate Monroe of The Florida Times-Union has the story.
The 336-unit Remington at Ponte Vedra Beach sold for $35.35M, or about $105k/u to an Atlanta investor, Cocke-Finklestein Inc., that plans a substantial renovation. The seller was AIMCO.