From the Daily Record
Forge Capital Partners wants to complete the partially constructed second phase of The Palazzo on St. Johns, which would finish a condominium project that languished for years before its 2013 acquisition and rejuvenation.
Prospect Cove Development LLC, whose managing member is Forge Capital Partners, applied to the city to complete the third and fourth buildings at 3958 Baymeadows Road.
Those plans show a $6 million second phase.
The 66-unit project is designed as a luxury waterfront community on Goodbys Creek near Baymeadows Road and San Jose Boulevard.
The condos are three- and four-bedroom units from 1,900 to 2,500 square feet and start in the low- to mid-$400,000s.
The first phase comprises 38 units among two buildings. Forge Capital Partners said 26 of the units are sold.
The second phase comprises 28 units. Pricing, design, architectural style and the three available floorplans are the same as the first phase.
Prospect Cove Development will complete the partially constructed buildings with the original design and configuration.
In November 2013, developers changed the name from The Cove at St. Johns to The Palazzo on St. Johns and announced the opening of the sales center.
Cowford Chophouse gets $6.4M build-out permit
The Cowford Chophouse is good to go for its interior build-out.
The city issued the permit for Danis Construction LLC to complete the interior build-out for the Downtown steakhouse at a job cost of $6.42 million.
The project is underway at 101 E. Bay St., at the corner of Bay and Ocean streets.
Property owner Foodonics Equities wants to open the upscale steak and seafood restaurant next year.
It is part of the Forking Amazing Restaurants group, which said in August the opening date, initially expected this year, was delayed.
The company changed contractors in May, switching from Elkins Construction to Danis Construction.
Chophouse owner Jacques Klempf said the Danis team needed time to review the project status.
Plans show bars, kitchens, storage and business space on the three floors.
Danis will renovate nearly 5,900 square feet of interior space and almost 3,000 square feet of unenclosed space.
VanTrust Real Estate buys property for office building
VanTrust Real Estate paid $4.58 million for Southside property for development of an office building at 5201 Gate Parkway.
Through JO Town Center 160 LLC, VanTrust bought 10.5 acres from the Arthur Chester Skinner III Trust, which comprises members of the Skinner family.
VanTrust Real Estate LLC wants to develop an office structure on the site.
Plans filed with the city show a five-story, 164,211-square-foot building on the property. No tenant was listed, indicating it might be developed on a speculative basis.
VanTrust has applied for a preliminary site plan and traffic capacity approval, a first step toward applying for a building permit. England, Thims & Miller Inc. is the civil engineer.
Plans showed 947 parking spaces.
Jolibee restaurant may open in December
Jollibee is expected to open its first Jacksonville location in mid-December at southwest Atlantic and Kernan boulevards in Southside.
It will be the forerunner for expansion of the largest fast-food chain based in the Philippines.
“It will be our first in Florida and yes, there will be more Jollibee (restaurants) in the entire state,” said Agnes Briones, director of new markets for Jollibee North America.
Briones said the company will announce the precise opening date when confirmed.
The restaurant’s menu includes what it calls its all-time favorite Chickenjoy, which is fried chicken, as well as Jolly Spaghetti, Yum Burgers, Fiesta Noodles and a sandwich collection that includes Spam and corned beef.
It also serves breakfast and desserts, including peach mango pie, the Ube Pearl Cooler and Buko Pandan Pearl Cooler.
Its more than 30 U.S. locations comprise more than 20 in California along with stores in Hawaii, Illinois, Nevada, New Jersey, New York, Texas, Washington and Virginia.
Mahaffey buys almost 26 acres in Bartram
The Mahaffey Apartment Co. bought 25.7 acres along Bartram Park Boulevard from Franklin Pointe Office Center LLC.
Mahaffey, through Mahaffey Associates Jacksonville LLC, paid $5.66 million for the vacant land.
Based in Winter Park, Mahaffey develops, builds, manages and owns large apartment developments.
Currently located solely in Florida, Mahaffey Communities are branded as Carlton Arms, according to the company.
Mahaffey lists its 10 communities in Bradenton, Lakeland, New Port Richey, Ocala, St. Petersburg, Tampa, Winter Haven and Winter Park. There are two each in Lakeland and Tampa.
Since 1962, it has developed, managed and owned more than 16,000 rental apartments in 20 developments.
EastPointe Business Center sells for $3.3M
Larkspur Properties sold EastPointe Business Center to A&S St. Johns LLC, a private investment group, for $3.3 million.
The 36,569-square-foot office building is on 3.16 acres at 3740 St. Johns Bluff Road S.
It is anchored by Smart Pharmacy and Trihydro Corp.
Larkspur, based in Aventura, sold the property through Larkspur Jacksonville Office LLC. The buyer’s registered agent is the Ansbacher & Schneider law firm in Jacksonville.
Keith Goldfaden, Christian Harden and Daniel Burkhardt of NAI Hallmark Partners represented Larkspur in the sale.
Steven Newman of Newman Commercial in Orlando represented the buyer, according to Harden.
Larkspur bought the property in September 2014 for $1.65 million from U.S. National Bank Association, which had taken title to the property in 2013.
Parkway sells local portfolio for $195M
Parkway Properties Inc. sold its Deerwood North, Deerwood South and JTB Center office properties for $195 million.
The properties were sold to Deerwood South LLC, a company registered with the state Sept. 15 by the TPG global investment firm in Fort Worth, Texas.
A TPG spokeswoman said by email the company was not commenting.
Parkway Properties earlier sold the Stein Mart building on the Southbank for $23.7 million. It sold that 10-story, 197,000-square-foot building in July to Lingerfelt CommonWealth Realty Partner LLC.
Property records show the portfolio sold totals about 1.3 million square feet of Southside office space.
As reported in May, Parkway Properties was selling its portfolio of Jacksonville office properties before merging into Cousins Properties Inc.
Cousins, based in Atlanta, and Parkway, headquartered in Orlando, announced their agreement in late April.
Merger documents showed that as part of the deal, they intended to sell Parkway’s Jacksonville portfolio, but gave no reason why.
TPG also registered the names of Deerwood North LLC, Deerwood South LLC and JTB Center LLC on Sept. 15. Those three companies took out a $111.5 million mortgage from Wells Fargo Bank.
Six Winn-Dixie stores converting to Harveys
Southeastern Grocers intends to convert at least six more Jacksonville Winn-Dixie stores to its Harveys Supermarket banner.
The six are: 777 Market St. in Downtown; 5909 University Blvd. W. in Southside; 3000 Dunn Ave. in North Jacksonville; 203 W. 48th St. in the North Shore area; 2261 Edgewood Ave. W. in Northwest Jacksonville and 5250 Moncrief Road in Northwest Jacksonville
Southeastern Grocers seeks certificate-of-use applications from the city for the new use of the properties.
The conversions aren’t entirely unexpected.
The supermarket chain opened its first local Harveys in May when it converted a Winn-Dixie at 1012 Edgewood Ave. N. in Northwest Jacksonville.
The Jacksonville-based company said at the time the store was tailored to the community.
President and CEO Ian McLeod said then the company might roll out the initiative to more Winn-Dixie stores.
He said the Northwest store’s neighborhood was in need of new and different offerings from the company.
McLeod said the format was designed for customers on a budget. He said Harveys offers items that customers requested along with “better value on the products they purchase most.”
The company’s remodel program included a renovation for a pilot Winn-Dixie in Baymeadows tailored to a more affluent market. That store, at 10915 Baymeadows Road, opened in February. McLeod previously said that prototype might roll out to other stores
Phillips Edison & Co. buys Harbour Village
Phillips Edison & Co. Ltd. paid almost $24.83 million for the 10-year-old Harbour Village shopping center in a deed recorded with the Duval County Clerk of Courts.
The center, at 13475 Atlantic Blvd., is anchored by Stein Mart and The Fresh Market.
Salt Lake City-based Phillips Edison, through Harbour Village Station LLC, bought the almost 120,000-square-foot center from Harbour Village Holdings LLC.
Harbour Village Holdings, part of Global Fund Investments of Sunrise, took title to the 18-acre property in 2011.
Cincinnati-based Phillips Edison already owns two shopping centers in Jacksonville — the Publix Super Markets-anchored Deerwood Lake Commons along Southside Boulevard and the Rowe’s IGA-anchored Promenade Shopping Center along Beach Boulevard.