Monthly Archives: June 2015

S FLA Firm Buys Southside Warehouse at $55/SF

The Eisenberg Group of Companies, via Western Way JAX LLC, bought the 53k SF single-tenant warehouse leased to Carrier Corp. at 8691 Western Way, for $2.925M, or some $55/SF.  Karen Brune Mathis of The JAX Daily Record has the article here, including a profile on the buyer.

600-Home Community Planned for South JAX…And More

Roger Bull of The Florida Times-Union reports in his Sunday Business Notebook that Eastland Partners is planning a 650-home single family (only) residential community called Wells Creek, on Philips Highway, about 1.5 miles south of Florida 9B.  No multi-family and no retail according to the zoning application and expected pricing will be in the upper 200’s.

Other deals:

  • former Peterbrooke chocolate factory at 1458 San Marco Blvd. sold for $104/SF.
  • Ace Hardware is taking the long-vacant former Eckerd Drug store at 150 San Marco Ave. in St. Augustine.
  • Scottish Inn Partnership of OKC paid $72k/key for the TownePlace Suites by Marriott at 4801 Lenior Avenue off JTB.
  • VST Holdings of Brooklyn NY paid $4.35M for the Chase Bank at 1515 Atlantic Blvd in San Marco.
  • A Colorado-based investor paid $4.91M for the building housing Visionworks and Burger Fi at 4890 Big Island Drive near St Johns Town Center.

Mayo JAX To Build 75K SF Unique Lung Transplant Center

Mayo Clinic JAX plans to open a lung transplant center in 2017, the first of its kind in the U.S.    Colleen Michele Jones of The JAX Business Journal has the announcement.

Zoes Kitchen to Brooklyn Station and Moe’s Southwest Grill to Bartram Park

Mmmmm…  Zoe’s Kitchen is coming to Brooklyn Station and midway up the alphabet, Moe’s Southwest Grill is coming to Bartram Park for its 14th JAX eatery.  Robert Ward reports for the JAX Business Journal.

Fifth Third Bank Closing Almost 10% of its Branches

I say the beginning of a major trend in retail banking and should make some branch bank owners nervous about their BofA, Wells, etc. “long-term” NNN leases…  Fifth Third Bank announced it is closing 100 of its 1,303 branches it has in some dozen states.  Smartphones, internet banking, scanning deposits, ATMs – when was the last time you went inside your bank?   Steve Watkins of The Cincinnati Business Courier has the story here.

Sheraton at St. Johns Town Center Purchased By Atlanta Group For $99/key

An Atlanta hotel investor and operator has purchased the Deerfield Park Sheraton Hotel near St Johns Town Center for about $15.8M and plans an additional $4M renovation.  The buyer, Peachtree Hotel Group now owns four JAX area hotels.  Jensen Werley of The JAX Business Journal has the story.

Coopers Hawk Winery & Restaurant Confirmed for SJTC

Chicago-based Cooper’s Hawk Winery & Restaurant has pulled a permit for the renovation of the former Whisky River building at 4850 Big Island Drive near St Johns Town Center.  Renovation cost – $2.7M or $204/SF – and that is reportedly just the inside and exterior facade.  Robert Ward of The JAX Business Journal has the announcement.

Riverplace South Office Building Trades For $81/SF

A Canadian investor with assets in Columbus OH has purchased Riverplace South, also known as The AvMed building at 1300 Riverplace Blvd. on the Southbank, for about $9M, or $81/SF, from Parkway Properties.  Karen Brune Mathis of The JAX Daily Record has the story here.

Incentives Sought for 123 New Financial Services Jobs in Downtown JAX

An unidentified financial services company is seeking city and state incentives to hire 123 new jobs to downtown JAX.  Votes on the assistance will be conducted in July.   Karen Brune Mathis of The JAX Daily Record has the brief article.

SunTrust Economist Praises JAXPORT

Old friend KC Conway, MAI, CRE, was in town to speak to NAIOP members on Tuesday and lauded JAXPORT and its leading the way to establishing JAX as a hub for trade with Mexico, energy (LNG), automobiles (VW and others), and logistics – MEAL.  Check out the article from Kevin Hogencamp, Contributing Writer for the JAX Daily Record.