Shad Khan’s Stache Investments buys Edgewood Bakery
Shad Khan’s Stache Investments Corp. bought the 67-year-old Edgewood Bakery, a Murray Hill neighborhood favorite at 1012 Edgewood Ave. S. and another of the Jacksonville Jaguars owner’s investments in the Northeast Florida business community. Jim Zsebok, who leads Khan’s community business investments, is the corporate manager of Edgewood Bakery LLC, which was filed with the state June 9. Documents show Edgewood Bakery Inc. President Gary Polletta signed an assignment agreement June 9 selling to US Culinary Subsidiary I LLC, whose name was then changed to Edgewood Bakery LLC. Edgewood Holdings LLC, whose president is Polletta and vice president is Sandra Polletta, sold the property June 9 to US Culinary Subsidiary I LLC for $625,000. Stache issued a $625,000 mortgage the same day to US Culinary. The almost 6,000-square-foot bakery building sits on .71 acre. It was built in 1962 and carries a 2014 market value in progress of $376,100. The bakery, in business since 1947, has been a family owned business. In addition to its baked goods, it serves breakfast and brunch and offers catering services. Stache’s other investments include Casework of America Inc., Heritage Farms Jacksonville, L&J Diesel Service Inc. and financing the purchase of the old Barnett Bank Building and the Laura Street Trio Downtown. Stache also created the KYN Downtown business accelerator and has pledged support to One Spark crowdfunding festival creators.