The Tennessee-based investor paid $13.2 million for the land along Race Track Road.
Bristol Development Group paid $13.2 million for 50 acres along Race Track Road in Duval and St. Johns counties.
Franklin, Tennessee-based Bristol Development bought the site Aug. 10.
Duval County Clerk of Courts records show Grand Capital, through PEG 120 LLC, sold 36.5 acres along Philips Highway near Race Track Road to Bristol Development Group, through Bristol RTR Partners LLC, for $6.6 million.
St. Johns County records show PEG 120 LLC sold two parcels totaling 13.6 acres along 6365 Race Track Road to Bristol RTR Partners LLC for a combined $6.6 million.
Cliff Taylor and Joe Ayers of CBRE represented Grand Capital, which is based in Fort Lauderdale.
The property is zoned for 254 multifamily homes and up to 130,000 square feet of commercial space.
“This location along Race Track Road provides residents with convenient access to some of the city’s major employment centers,” Taylor said in a news release.
“Additionally, the proximity to area retail and medical make this one of the Jacksonville MSA’s most activated nodes to development.”
On October 2021, PEG 120 LLC bought the Duval County property for $2.525 million and the St. Johns land also for $2.525 million.
In January, the Bristol Development Group partnered with Hallmark Partners to sell the Vista Brooklyn apartments at 200 Riverside Ave. to Capital Square for $126.3 million, making it the largest sale for an apartment building in Jacksonville.
Be the first to know the latest breaking news and information that business leaders rely on in this fast-paced changing Northeast Florida economy. Regional business news, trends and statistics needed to grow your business. Key upcoming events you won’t want to miss and much more. Click Here to Grow your Business NOW!