Monthly Archives: April 2015
JAX-based Baptist Health and MD Anderson Cancer Center in Houston are teaming up to begin operations for the Baptist MD Anderson Cancer Center this Fall. It will initially be housed in the existing Baptist Outpatient Center in San Marco but Baptist officials say they are negotiating for a site for a nearly 200k SF building also in San Marco. Baptist MD Anderson Cancer Center becomes the third hospital in the Anderson Cancer Center Network, joining one in Arizona and one in New Jersey. Charlie Patton of The Florida Times-Union has the story.
Karen Brune Mathis of the The JAX Daily Record has a great update on retailers and restaurants on the move around the city, including:
- Burrito Gallery at Brooklyn Station on Riverside interior upfit
- The former Bennigans at 8440 Blanding that will be razed and a two-tenant retail building constructed in its place to house JAX’ first Mission BBQ and an Aspen Dental.
- A new Flash Foods c-store/gas station planned to replace the existing one at 1145 Airport Road.
- Lakewood Promenade, anchored by Winn-Dixie and Stein Mart, at 1500-1670 University Blvd. is getting a new Hallmark store and Lucy’s Boutique.
- Construction is progressing on the area’s first Freddy’s Frozen Custard & Steakburgers at 14026 Beach Blvd.
- DollarTree is planning to take over the former Family Dollar store at 7310 New Kings Road (at Soutel Drive).
Apartment rents in JAX are rising – duh! – but really rising to a point where JAX rental rates are projected to increase 4.3% for the next year, and among the top 20 in the nation. Denver was highest at a 9% projected increase; four other Florida cities ranked from #11 to #20 – Tampa, Orlando, Fort Lauderdale and Miami – along with Jacksonville (#19).
Smith Travel Research reports in a Florida Times-Union article by Stuart Korfhage that the hotel occupancy for the 12 months ending in March 2015 was up 7.1% and the ADR up 4.3% to $119. Occupancy in March 2015 was up 3 percentage points over March 2014.
Fanatics, Inc., the licensed sports merchandise internet retailer, is looking for $1.4M in incentives from the city and state as it looks to hire another 80 employees and expand its HQs here. David Bauerlein has the story on the incentives request for the Florida Times-Union.
Johnson & Johnson Vision Care, aka Vistakon, has applied for a $19M expansion of its Southside/Deerwood campus, its seventh such expansion and it hasn’t completed its last expansion yet that takes the complex to 800k SF that houses some 2,000 employees. Jensen Werley has the story for the JAX Business Journal.
A Tennessee family trust has bought the 1970s Azalea Ridge apartment community with 102 units for $3.1M, or about $31k/u. Andrew Thurlow of The JAX Business Journal has the story.
Carter Validus, a Tampa based MOB investor, bought three condo units at Hampton Medical Arts Center in Deerwood for $7M, or about $560/SF for the combined 12,503 SF units; the remaining unit in the building with 13,350 SF was not included. Andrew Thurlow of The JAX Business Journal has the story.
Nestle USA announced they will be shifting a majority of their Puerto Rico shipments from the Port of New York/New Jersey to JAXPort. They expect volume to Puerto Rico to increase by more than 400% over the next six months, according to a company statement. Jensen Werley of The JAX Business Journal has the story.
Andrew Thurlow of The JAX Business Journal reports that the loan on the BB&T building downtown has been sent to a special servicer as payments have been delinquent for the past 10 months.