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- 2014 - July - 11th -
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KeyBank issues $18.5M mortgage to Fairlead Commercial Real Estate

By Karen Brune Mathis, Managing Editor

KeyBank National Association issued an $18.5 million mortgage to Fairlead Commercial Real Estate for its $23 million purchase of three buildings in Gran Park at the Avenues.

Fairlead bought the buildings June 27 through ROC II Fairlead Gran Park at Avenues LLC. Keybank issued the mortgage Tuesday to the limited liability company.

Fairlead bought three buildings, totaling 240,000 square feet, at 7406 and 7411 Fullerton St. and 10199 Southside Blvd. from FDG Avenues II LLC, which is a successor company to Flagler Development Co. and before that, Gran Central Corp.

Bridge Investment Group Partners, managers of the ROC Funds, is Fairlead’s equity partner.

Fairlead Florida Senior Managing Director J.J. Conners said the buildings are 90 percent leased. Primary tenants include Florida East Coast Railway, Progressive Insurance and Value Options, he said.

Duval County Clerk of Court records show Fairlead bought three parcels that comprise the buildings and a little more than an acre of vacant land, totaling almost 36 acres.

The properties carry a 2014 market value in progress of $17 million.

Fairlead Commercial Real Estate LLC is based in Atlanta and has offices in Jacksonville, Hong Kong and Singapore.

It is a privately held investment and operating company focused on commercial real estate.

Kimley-Horn preparing for Flagler Center office

Kimley-Horn and Associates Inc. could be moving to Flagler Center. The city is reviewing an application for a building permit for the design consulting firm at the Southside office park.

Kimley-Horn operates in Baymeadows at 8657 Baypine Road, Suite 300.

The new location is an 8,144-square-foot office at 12740 Gran Bay Parkway W., No. 2350. C. Harrison Construction Inc. is the contractor for the $197,750 project.

The company operates in 18 states and also has affiliated companies in Michigan, New York and Puerto Rico.

Wendy’s updates interview dates

Wendy’s of Florida owner Meritage Hospitality Group switched the dates for its hiring event next week. The open interviews will be Tuesday at 4453 Southside Blvd.; Wednesday at 1830 U.S. 1 S. in St Augustine; and Thursday at 6021 Argyle Forest Blvd. The interviews will take place from 8-11 a.m. Meritage wants to higher general managers for its 38 Wendy’s of Florida restaurants. Visit wendysofflorida.com for more information.

kmathis@baileypub.com

@MathisKb

(904) 356-2466

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