Monthly Archives: November 2015

JIA Adds New International Flight

Jacksonville International Airport (JIA) just added a new international flight between the First Coast and Toronto, Canada. Air Canada will be the carrier. The new flight was added due to the demand from Canadians who visit the US each year.

Jensen Werley with the Jacksonville Business Journal covered the story.

Fifth Third Bank Moving Jax HQ Downtown

Fifth Third Bank is moving its Jacksonville Headquarters from its current suburban San Jose location, to One Enterprise Center, in the heart of the CBD. The bank will be leasing 6,300 square feet on the 16th floor and plans to move in during the 1st quarter of 2016. The reasoning for the move is related to creating a stronger brand presence and demonstrating their commitment to Jacksonville.

Colleen Michele Jones with the Jacksonville Business Journal covered the story.

Deutsche Bank Expanding in Jax

Deutsche Bank has decided to move forward with its expansion plans in Jacksonville, further committing to the area. The company, based in Germany, already has 1,700 employees in the area. It will be leasing space at 5022 Gate Parkway (former PHH Mortgage Building), which is less than a mile from Deutsche Bank’s existing campus. The bank plans to hire around 350 new jobs thru the end of 2017, with hiring beginning in 2016.

Colleen Michele Jones with the Jacksonville Business Journal covered the story.

6 Essential Office Leasing Terms

Navigating an office lease can be a tricky task for just about anyone, and there are many terms that can impact your budget if you don’t fully understand them. Not all language will affect your bottom line directly, but if you don’t familiarize yourself with these six terms, expect to take a financial hit.

Read the Colliers White Paper by Vinny Di Meglio here.

Hobby Lobby Coming to St. Johns Town Center

On the heels of the recent announcement (posted here) regarding Stanmore Partners intention to develop 347 apartments across from the St. Johns Town Center, Hobby Lobby is the next big announcement related to the same site. The retailer has confirmed that it intends to sign a lease for space in a retail project known as The Strand. The Strand will be built on land that is currently under contract by Preferred Growth Properties (Arthur Chester III Trust is seller) and set to close in January. Hobby Lobby plans on opening in mid-2017. Hobby Lobby, which already has stores in NEFLA, is growing in popularity due to the widespread use of social media platforms such as Instagram and Pinterest, which is a popular place for people to post and search for DIY (Do It Yourself) projects.

Karen Brune Mathis with the Daily Record covered the story.

Student Housing Could be Coming Downtown

Florida State College at Jacksonville may be able to finally offer student housing in downtown Jacksonville. The school is meeting with the Downtown Investment Authority today, along with the new owner of 20 West Adams Street and his representatives, to discuss an incentive plan (valued at $1.2M) that will help with the redevelopment of a 6 story building in the CBD. If the meeting with the DIA goes well, the next step will be a vote from city council. The building was built in 1911 and opened as the headquarters for the Southern Drug Co. It has been unused and sat vacant since the 1980s. The new owner and FSCJ are planning a student housing project that would house up to 60 students, and would include a ground level restaurant run by the schools culinary department.

Max Marbut with the Daily Record covered the story.

PHH Mortgage Moving Jax Office

PHH Mortgage is moving from the building it currently occupies off Gate Parkway to a smaller space in the Deerwood area off Baymeadows Way. PHH was leasing the entire 150,000 square foot, 3 story building off Gate Parkway, and will be downsizing to around 100,000 square feet in the new building, which it will share with other tenants. PHH will take half of the first floor, and the entire 2nd and 3rd floors of the 5 story building at 8800 Baymeadows Way. PHH cut a third of it’s Jacksonville workforce back in 2013, and ever since, it had excess/unused space in the Gate Parkway building. Commercial RE insiders have known for months that this deal was in the works, but it was not made public until recently. Deutsche Bank, who is currently expanding it’s Northeast Florida presence, will be signing a lease to occupy the former PHH Mortgage Building.

This news follows other recent announcements related to other companies relocating to the Baymeadows area, including Southeastern Grocers (Winn-Dixie) and Digital Risk, LLC. (Former blog post here)

Karen Brune Mathis with the Jacksonville Daily Record had the story.

New Restaurants Coming to NEFLA

Several new restaurants are in the planning phase for new restaurants in Jacksonville, a good sign for foodies along the First Coast.

PGA tour golfer Graeme McDowell plans to open his second restaurant, Nona Blue Modern Tavern, in Sawgrass Village. The other location is in Orlando and opened two years ago. The restaurant will take up 7,148 square feet and will serve American grill fare and is expected to open in Spring of 2016.
Alexa Epitropoulos with the Jacksonville Business Journal covered the story.

Pieology Pizzeria planning a store in the Nocatee Town Center. What makes this pizza chain stand out, is customers build their own custom pizza, choosing from eight different sauces and over 40 other ingredients/toppings. The building is expected to be completed in Spring of 2016.
Alexa Epitropoulos with the Jacksonville Business Journal covered the story.

Black Sheep is investing in downtown Jacksonville in a big way. In addition to the kiosk that is planned for Hemming Plaza that we wrote about a few weeks ago, it was just announced that Black Sheep will also be opening up a restaurant in the former Midtown Deli (recently closed) on Laura Street, across from the Bank of America Tower. For the time being, the new downtown locations will open for lunch only, and slowly start to serve dinner on select evenings when the time is right. Owner of Black Sheep, Jon Insetta, is a major advocate of the urban core and the revitalization of downtown.
Alexa Epitropoulos with the Jacksonville Business Journal covered the story.


Land Across from St. Johns Town Center Under Contract for 347 Apartments

Stanmore Partners, a Houston based apartment development and investment firm, is under contract to purchase 6.6 acres of land near the St. Johns Town Center and plans to develop up to 347 apartment units on the site, which it plans to call Ravella at Town Center Apartment Homes. Before that deal can go thru, Preferred Growth Properties must first close on the 61.35 acres that it has under contract with the Arthur Chester Skinner III Trust, expected to close at the end of January. The plans for the site include a one building complex with a seven level parking garage and two courtyards. That deal is expected to close in the 2nd quarter of 2016.

Karen Brune Mathis with the Daily Record covered the story.

Dunkin Donuts and Ulta Cosmetics Coming to Villages of Amelia (Yulee)

Dunkin Donuts and Ulta Cosmetics are both going to be opening up new locations on the ever growing SR-200/A1A corridor in Yulee. The stores will be located on outparcels to the Villages of Amelia Shopping Center, which is anchored by Publix, Kohls, Ross and T.J. Maxx, located at SR-200 (A1A) and Chester Road. Both stores are scheduled to open in 2016.

The announcement was made by the Nassau County Economic Development Board.