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- 2014 - January - 24th -

New management for Liberty sites

by Karen Brune Mathis, Managing Editor

Lingerfelt CommonWealth Partners has taken over operations for the Liberty Property Trust properties recently acquired by Greenfield Partners.

Calls to the Jacksonville Liberty Property Trust office are answered as "CommonWealth Commercial."

"Lingerfelt CommonWealth Partners is the local Operating Partner for Greenfield Partners for the former Liberty Property Trust portfolio in Jacksonville, FL.," said Lingerfelt Companies Principal Brian Witthoefft late Thursday by email.

He said a news release would be distributed and that in the meantime, he could not comment further.

Lingerfelt Companies is based in Glen Allen, Va., near Richmond.

Lingerfelt Companies describes itself as a full-service real estate development firm with developments, acquisitions, build-to-suit projects and property management services.

The Lingerfeltco.com site says the company began in the 1950s as an engineering and construction firm and was transformed into a commercial real estate developer in 1960s, "and began a very successful history of real estate development and acquisition, asset management and property management which continues today.

It states that the three generations of the Lingerfelt Companies, both as private developers and from 1995-2007 as part of Liberty Property Trust, have built and acquired in excess of 12 million square feet of medical and professional office; industrial, data and call centers; emergency care centers; elderly housing; nursing homes; and multifamily developments in the eastern United States.

The areas include Virginia, Washington, D.C., North Carolina, South Carolina, Maryland, Illinois, Tennessee, Alabama, Georgia and Florida.

Harold, Alan and Ryan Lingerfelt represent the three generations. In March 1995, Alan Lingerfelt orchestrated the merger of Lingerfelt Development Corp. with Liberty Property Trust, a $6.1 billion real estate investment trust, and served as senior vice president for more than 12 years.

The Daily Record reported Dec. 30 that in one of the largest area real estate transactions of the year, Liberty Property Trust sold its portfolio of 32 Jacksonville buildings along with 115 undeveloped acres for more than $197 million to Greenfield Partners LLC, a Connecticut-based real estate investment firm.

Greenfield says on its greenfieldpartners.com site that it was established in 1997, manages capital on behalf of its principals and limited partners and has secured capital commitments in excess of $4 billion.

The Jacksonville properties primarily are in the Southpoint and Butler Boulevard area of South Jacksonville along with the 115 acres along Imeson Road in West Jacksonville.

Among its most recognized area developments are Center Point Business Park, Butler Plaza, Liberty Business Park, the McKesson Building and the PHH Building.

The Jacksonville Liberty Property office had a staff of 13 in property management and leasing and development. One relocated to Dallas and another transferred to South Florida.

Dan Santinga, who was senior leasing representative for Liberty Property Trust in Jacksonville, referred questions Thursday to Witthoefft.

Port Jax Trade Center expanding

Developer Bill Spinner said he expects to start construction on one new industrial building this quarter at the Port Jax Trade Center in North Jacksonville and start the next phase soon after that.

"The market for industrial real estate is still challenging, but much better than it was for the past five years," Spinner said.

"We seem to lag behind South Florida and they currently have a vibrant market. Jacksonville is next if we can continue to promote and make doing business here more attractive," he said.

The city is reviewing plans for Buildings 600 and 700 at Port Jax, which is along Port Industrial Drive, off Alta Drive. Spinner estimates a $3 million project cost.

Spinner said the two buildings, which will be the third and fourth of what eventually will be a nine-building, 600,000-square-foot development, are speculative construction. That means there are no tenants signed.

"That is the terrifying part of our business," he said. "We are confident, though."

Port Jax is about a mile from Dames Point and Blount Island and the port terminals there.

Spinner said construction should start by the end of the quarter on the 29,005-square-foot Building 600. Building 700 will be 23,448 square feet.

The buildings are designed on 3.85 acres at the development.

Port Jax Trade Center is under development on 35 acres zoned industrial heavy and designated as a Foreign Trade Zone.

Spinner said its main tenants include the corporate headquarters for W&O, a global supplier of pipe, valves, fittings and other systems for the marine and oil and gas industries; the Americas headquarters for Hoegh Autoliners Inc.; the Jacksonville Division offices for the LewisGoetz hose, sealing and belting products company; and a warehouse for Venus Swimwear.

He expects to complete the trade center project in three to five years.

Jacksonville Lime plant in review

The city is making a preliminary site-plan review for the Jacksonville Lime LLC lime manufacturing plant at the Keystone Properties terminal in the Talleyrand Avenue area along the St. Johns River near Downtown.

City Council approved incentives in October for Jacksonville Lime LLC, which requested an incentives package of $1.19 million to create 22 jobs and develop a $36 million lime manufacturing plant.

Jacksonville Lime LLC is a venture between Keystone Properties and Keystone Port Terminals, and Carmeuse North America, which operates under Carmeuse Lime & Stone.

Plans in review show a site of almost 8.7 acres at Keystone's 1915 Wigmore St. property for construction of a lime kiln facility and an administration building.

Joe Whitaker, with the City Office of Economic Development, said when the incentives were considered that the company would create a new industry in Jacksonville to manufacture lime for shipment throughout Florida, Georgia and the Caribbean.

In the September project summary, Jacksonville Lime proposed to construct two lime kilns along with conveyors, scales and other machinery and equipment to produce product at the first lime manufacturing plant in Florida.

It said the plant will result in the shipment of about 350,000 tons of bulk products annually through Jacksonville's port.

The majority of the company's incentives request comprised a $1.136 million REV grant, with the other $55,000 coming from the Brownfield Redevelopment Bonus program.

Of the $55,000, the city would contribute $11,000 with the state paying the remaining $44,000.

The project summary said the proposed 22 full-time jobs would pay a $55,000 average salary, exclusive of benefits, and would be created by Dec. 31, 2015.

Environmental Consulting & Technology Inc. is the site civil engineer.

Renaissance charter school a $4.57M project

The Renaissance Charter at Jacksonville at 5209 Shad Road appears to be a $4.57 million construction project.

Summit Construction Management Group LLC of Orlando is the contractor for the two-story, 68,250-square-foot K-8 charter school.

Charter Schools USA is the developer.

Thomas Hankinson with Summit applied for the permit. He and Charles Cordes, of Jacksonville, are the managing members of Charter Schools Development Group

A site plan shows the proposed school, play field, parking, pond and preservation areas. The undeveloped property, north of Shad Road and east of Hood Road, is owned by the Helen A. Kartsonis Trust.

Prosser Hallock is the engineering consultant.

San Marco build-out for CFM

Client Focused Media can start work to renovate offices in San Marco for relocation from Downtown.

The city OK'd a permit for Duckworth Construction Co. to renovate 4,600 square feet of the two-story building at 1611 San Marco Blvd. at a project cost of $80,000.

The first floor will comprise the lobby, offices and a work area, and the second floor will contain a foyer, offices, work area and conference space.

Akel, Logan & Shafer is the architect for the building renovation. Client Focused Media President Mike White said in December he expects to move to the building in late January or February.

As the Daily Record has reported, White intends to invest more than $500,000 in moving his company from leased space on the Northbank to his newly acquired building across the St. Johns River in San Marco.

White and his wife, Joanna White, through Westrick San Marco LLC bought the two-story, 4,700-square-foot building for $420,000. White said in December he intends to invest at least $100,000 in initial renovations.

Sam's Club renovating Youngerman store

Sam's Club was approved for a $1.23 million renovation for its 6373 Youngerman Circle store in the Argyle area.

Aarene Contracting LLC will handle the general remodel to include the store's grocery area, restrooms, registers, snack bar, optical department, tire and battery area and office.

kmathis@baileypub.com

@MathisKb

(904) 356-2466

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