Investor Bill Ware said Nov. 18 that the sale closed on the acquisition of the 1939 Hendricks Ave. building that will be renovated for the headquarters of Group 4 Design Inc.
Ware, as Incipit of Florida LLC, and the architecture group’s principals are 50-50 partners in the property, Ware said previously.
“We successfully closed on the purchase of the property this afternoon,” Ware said by email early evening Nov. 18.
1939 Hendricks LLC paid $1 million for the property, The deed was executed Nov. 18 and recorded Nov. 22.
The city issued a permit Nov. 10 for Urban Partners Construction LLC to renovate the two-story building at a cost of $1.5 million.
It is at northeast Atlantic Boulevard and Hendricks Avenue.
The property has been owned by the Estate of Raymond P. Diemer and Joan Elizabeth Diemer.
Group 4 said previously it has outgrown its 4,000-square-foot headquarters at 1520 Prudential Drive and will double its space in the move to the Hendricks Avenue structure, which is about 8,000 square feet.
Ware said the groups will buy and renovate the 69-year-old building in a $2.5 million project. He will be the developer.
The deed was not recorded with the Duval County Clerk of Courts as of 7:30 p.m. Nov. 18.
The construction permit lists the property owner as 1939 Hendricks LLC, which state record show comprises Ware and Group 4 principals Karie Kovacocy, Leigh Gunn and Jamie Jaxon.
Group 4 Design will occupy the building and lease it as a tenant.
Kovacocy said previously Group 4 “plans to restore it to its 1950s, midcentury-modern glory.”
The project has been in design for more than a year.
The city issued a permit Jan. 7 for Realco Recycling Co. Inc. to start partial demolition at the building for conversion into professional offices.
Ware said he intended to renovate the 8,300-square-foot, two-story building into Class A office space and build a lobby, public restrooms and an elevator where a one-story structure, about 2,000 square feet, would be removed.
Realco Recycling was permitted to gut the interior of the two-story main building and tear down a one-story structure that covered a pool and spa in the back of the property at a cost of $50,000, according to the demolition permit.
City records show the main structure was built in 1952 for the branch office of the Peninsular Life Insurance Co.
It more recently was used as the Club Jacksonville men’s club. It has been closed and the city Municipal Code Compliance Division condemned the structure July 26, 2019, deeming it unsafe and subject to demolition.
Ware said the property sits on about 0.33 acres.