St. Johns County is reviewing an economic development incentives application for a proposed speculative industrial/office space near World Golf Village.
Developer Pavo LLC is proposing a 22,680-square-foot project near International Golf Parkway at Commerce Lake Drive and Center Place Way and Interstate 95.
Pavo is seeking $107,224 in incentives for the project, which is named Commerce Lake Offices. The site is on 2.97 acres.
The incentives deal is scheduled at the St. Johns County Board of County Commissioners for a vote at its 9 a.m. meeting June 4 in St. Augustine at 500 San Sebastian View.
Pavo is based in Sheridan, Wyoming, but has an office in Sarasota.
Gendreau Holdings LLC of Jacksonville owns the property, which it bought from First Southern Bank in 2015 for $275,000.
The project proposes to bring upscale industrial/office space to attract high-tech tenants.
Work would begin in August and be completed by the third quarter of 2025 at a cost of about $5 million.
“We want to provide an upscale office/warehouse mix for the offices and possible showroom/meeting needs,” according to Pavo’s application.
Site plans show 49 parking spaces. It also identifies a second phase 21,704-square-foot adjacent building that is not a part of the incentives request. The application says the expansion will depend on the success of the first phase.
The project scored the highest rating of 5 in the speculative space category of the county’s business incentive program, making it eligible for expedited permitting and an economic development incentive of up to 100% of impact and water/sewer fees paid to the county and four years of ad valorem taxes paid on capital improvements.
The commercelakeoffices.com website says that “After failing to find a commercial space that combined office, showroom and warehouse,” it decided to create its own.
“We offer open floor plans, and will provide custom interiors with an in-house architect and builder,” it says.
Tenants can lease or own at the site.