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Jacksonville Jaguars owner Shad Khan

Shad Khan continues to invest in Jacksonville; company buys $3.7M warehouse

By Karen Brune Mathis, Managing Editor

Jacksonville Jaguars owner Shad Khan continues investing in the community, as promised.

In addition to Khan’s $760 million purchase of the Jaguars and his investment in EverBank Field, he created Stache Investments Corp. to finance small businesses and entrepreneurs.

On Friday, one of Stache’s latest investments, Casework of America Inc., paid $3.7 million for a West Jacksonville warehouse.

Casework, which makes furniture and furnishings for commercial use, bought a 144,000-square-foot warehouse on almost 7 acres at 1030 Ellis Road N., just north of Commonwealth Avenue. It bought the property from 1030 N. Ellis Road LLC, managed by Sam Easton of Jacksonville-based Easton, Sanderson & Co.

Casework of America Inc.’s directors are Thomas Clarkson and Jim Zsebok, both of Naples. The address is at Stache Investments Corp. They registered the Casework name with the state in February 2013.

Khan is president and director of Stache Investments and Clarkson is secretary and treasurer.

Casework executives could not be reached Wednesday for comment

Wayne Sanderson, vice president of Easton, Sanderson, said Wednesday that Stache Investments would continue to lease 67,000 square feet to Coastal International Logistics CIL Forwarding and use the remaining space for Casework.

Sanderson said Easter, Sanderson represented the seller and Nathan Rogers, a first vice president with CBRE Inc., represented the buyer.

Casework had been leasing space at 6500 Youngerman Circle in Southwest Jacksonville near Orange Park.

Khan formed Stache Investments in April 2012 after buying the Jaguars and has made several area investments. Stache has financed purchases of the old Barnett Bank Building and the Laura Street Trio Downtown and is backing Heritage Farms Jacksonville and L&J Diesel Service Inc.

Stache also created the KYN Downtown business accelerator and has pledged support to One Spark creators.

Khan said a year ago he was interested in developing the vacant Shipyards property, which is near EverBank Field and is the most visible open space along the St. Johns River on Downtown’s Northbank.

“I think for me, it’s really about committing to a community,” Khan said then.

Khan said he supports growth in the community, including investments in local business, but prefers to do some of it quietly.

“There are many touch points to make a difference,” he said.

Casework’s website, caseworkofamerica.com, says the company has been in business for more than 20 years, building furnishings and fixtures for commercial and retail uses.

It says it specializes in the fabrication of wood and laminate case goods and store fixtures using state-of-the-art applications and machinery.

Casework of America provides products and services for institutions such as schools, hospitals, military and government, as well as retail store fixtures and solutions for private sleeping quarters required by fire stations, hospitals, military installations and emergency response organizations.

Simon announces Phase III tenants

Simon Property Group issued a news release Wednesday it had leased all of retail spaces in the new Nordstrom wing at St. Johns Town Center that will open Oct. 10.

The wing is Phase III of the Town Center. In addition to Nordstrom, it will include Arhaus Furniture, a Disney Store, Boston Proper, Free People, Model Citizen, Natural Life, Swim ‘n Sport and Yankee Candle.

Arhaus, Boston Proper, Free People, Nordstrom and Swim ‘n Sport are new to the Jacksonville market.

The Phase III wing is on the southwest end of the property between Louis Vuitton and Brooks Brothers and will feature more than 158,000 square feet of retail space.

St. Johns Town Center visitors also will find almost 600 more parking spaces behind Ethan Allen and Ovinte, along Big Island Drive, and in the east parking lot behind Coach and Michael Kors.

Doctors Company plans Flagler Center office

The Doctors Company, a Napa, Calif.-based insurer, wants to build-out space in Flagler Center for a 13,000-square-foot office center.

Dav-Lin Interior Contractors is the contractor for the $522,125 project at 12724 Gran Bay Parkway W., No. 400. The Doctors Company would take space on the fourth floor of the Lakeside One building.

Plans show space for almost 80 people, comprising 62 workstations and 17 private offices.

Building plans show the workstations and private offices as well as a conference rooms, “huddle rooms,” lunch room, a copy and mail room and storage.

The Doctors Company, whose website is thedoctors.com, calls itself the nation’s largest insurer of physician and surgeon medical professional liability. Founded in 1976 by doctors, the company says it insures nearly 55,000 member physicians and has $4 billion in assets.

The Doctors Company has not responded to questions about the office project, including how its existing Jacksonville operation would be involved.

In 2011, The Doctors Company bought Jacksonville-based FPIC Insurance Group Inc., a provider of medical professional liability insurance for physicians, dentists, and other health care providers, for about $362 million. Those offices are at 1000 Riverside Ave., Suite 800.

In 2008, it created The Doctors Company Foundation to support patient safety research and education programs through charitable grants.

kmathis@baileypub.com

@MathisKb

(904) 356-2466

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