Monthly Archives: May 2015

AMC Theater at Regency Square Mall Sold to Kansas City Based REIT

The 24 screen AMC movie theater located at Regency Square Mall sold on Monday, May 25th for $26.2 million. The seller, Namdar Realty Group and Mason Asset Management out of Great Neck, NY, bought Regency Square Mall, which included the theater, in early 2014. After purchasing the theater the owners started a $2.9 million renovation, including upgraded seating and full bar. The buyer is EPR Properties, a REIT based in Kansas City who focuses on entertainment, recreation and education property assets. The company also owns the building on Philips Highway leased to Latitude 30.

First Coast’s Wealthiest Zip Codes

The region’s most affluent zip codes on the First Coast, per an article from Alexa Epitropoulos of The JAX Business Journal:

1 – Ponte Vedra Beach 32082 – PVB/Sawgrass/Palm Valley

2 – St. Johns 32259 – northern St. Johns County/Greenbriar Road/St. Johns Pkwy

3 – Jacksonville 32223 – Mandarin

4 – Fleming Island 32003

5 – Nocatee 32081 – northeastern St. Johns County

6 – Fernadina Beach 32034

7 – St. Augustine 32092 – Northwestern St. Johns County

8 – St. Augustine 32080 – South St. Augustine/Crescent Beach/Butler Beach

9 – JAX 32225 – Northeast JAX/Monument Road, outside I-295

10 – Elkton – in north St. Johns County, west of I-95

Raytheon Awarded $9.5M Navy Contract in JAX

Raytheon, based in Texas, will make repairs to Navy aircraft in JAX for a $9.5M contract recently awarded.  Jensen Werley of The JAX Business Journal has the story.

Jobs, Jobs, Jobs!

JAX is creating jobs, particularly in the trade/transportation and the leisure/hospitality sectors.  16,500 jobs have been created in 2015, a 2.7% increase, and roughly two-thirds of the total jobs for the state (25,800).  Trade, transportation and utilities led the way with 5,900 jobs thus far in 2015, followed by 4,600 jobs in leisure and hospitality and construction (and mining/logging, but I’m going with construction leading this sector) at 2,000 jobs.  But professional/ business services lagged, losing some 600 jobs, mostly in information technologies and financial services.  Unemployment is at 5.2%, down from 6.4% a year ago, and 5.2% currently for the state.  Alexa Epitropoulus of The JAX Business Journal has the statistics.

Puerto Rican Tade Company Buys Imeson Warehouse at $37/SF

Aqua Gulf Transport, a logistics provider in Puerto Rican trade purchased a 62k SF warehouse at 9400 Busch Road in Imeson Park in North JAX for $2.3M, according to an article from Andrew Thurlow of The JAX Business Journal.  The sale also included about 2.5 acres of excess land that the Aqua Gulf will use for storage.

JAX Population Gain Biggest in State

JAX’ population increased 9,300 in the past year, to 853,000 in the city, ranking it the 12th largest city in the nation, and the largest population gain in absolute terms in the state according to the U.S. Census Bureau and an article in the Naples Daily News, via Alexa Epitropoulos of The JAX Business Journal.

Aldi Opens in Middleburg

The long-awaited opening has come for the new Middleburg area Aldi, the German owned grocery store chain that is a cousin to Trade Joes.  At 17k SF, its about one-third the size of a Publix but still carries some 1,300 items, that some claim are up to 50% cheaper than Wal-Mart.  This is Aldi’s first store in Clay County and its second in the JAX region; it now has 72 stores in FL.  Another store is expected to open off Southside Blvd later this year.  Roger Bull has the story for The Florida Times-Union.

Second Act Begins for Oakleaf Cinema

Announced over a year ago, the 12-screen theater at Oakleaf is moving forward with a building permit finally issues.  It should open in March 2016.   Roger Bull has the announcement.

TRUAire Warehousing Operation Relocating To JAX From Savannah

TRUAire, a distributor for grills and grates for air conditioning systems has leased a 90k SF warehouse on Port Jacksonville Parkway off New Berlin Road in NE JAX, and will close it SAV operation of 60k SF.  Roger Bull of The Florida Times- Union has the brief announcement.

TrailMark, New 2,278-Lot Housing Development Coming to St. Johns County

Roger Bull of The Florida Times-Union brings us the story of TrailMark, a 2,278-lot single-family subdivision in north St. Johns County.  Prices will begin in the mid-$200s.  It is the second large residential development announced for northern St. Johns County; following Shearwater announced last month that will include 2,000 homes and townhomes, plus 400k SF of retail space, a K-8 school and 600 acres of natural areas.