Consolidated-Tomoka Land Co., a Daytona Beach-based real estate investment company, paid $62.7 million for about 52 acres at The Strand at Town Center.
Consolidated-Tomoka bought the land through subsidiary CTO19 Strand JAX LLC on Dec. 9.
The commercial area is at northeast Gate and Town Center parkways near St. Johns Town Center.
Mark Patten, Consolidated-Tomoka senior vice president and CFO, said the purchase was a real estate investment in income-producing properties.
Buildings purchased total about 216,000 square feet of space, according to Duval County Property Appraiser records.
Consolidated-Tomoka becomes the landlord to the tenants renting the buildings.
Tenants leasing that space include Fogo de Chao Brazilian Steakhouse, Mission BBQ, T-Mobile, Domu restaurant, TD Ameritrade, CareNow Urgent Care, Diamonds Direct, Best Buy, PGA Tour Superstore, Keke’s Breakfast Cafe, Grub Burger Bar, Yogurt Mountain and 2nd & Charles.
Birmingham, Alabama-based PGP Jacksonville TC LLC, a subsidiary of Preferred Growth Properties LLC, sold the property.
Preferred Growth Properties is a subsidiary of Books-A-Million Inc. PGP bought the land from the Skinner family in 2016 and developed the property.
Consolidated-Tomoka also owns property west of Gate Parkway that includes PDQ restaurant, the Wawa gas station and convenience store and Scrubbles Express Wash in The Crossing at Town Center.
The Dec. 9 purchase comprises most of the properties at the Strand that Consolidated-Tomoka had not previously purchased.
It previously purchased property comprising Chase Bank, Cheddar’s Scratch Kitchen, Chuy’s, Firebirds Wood Fired Grill and Moe’s Southwest Grill.