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Real Estate
Jax Daily Record Tuesday, Jan. 21, 202005:10 AM EST

Hanania invests in Baymeadows building

The auto dealer is looking for a Downtown building for use as its headquarters.
by: Scott Sailer Staff Writer

A group led by Jacksonville-based auto dealer Jack Hanania paid $1.05 million for a Baymeadows office building at 7899 Baymeadows Way on Dec. 23.

Hanania said Jan 13 that Ten-H1 Investments LLC bought the property as an investment. Hanania and Joe J. Hassan are partners in the company.

The seller, Jacksonville-based FA Systems LLC, bought the property in 2011 for $845,000.

Built in 1983, the single-story office building comprises 12,500 rentable square feet on 1.6 acres. The property is almost 100% leased, Hanania said.

The deal is Ten-H1 Investments LLC's second real estate investment. It paid $2.8 million in December 2017 for the six-story, almost 44,000-square-foot Dyal-Upchurch building at 4 E. Bay St. Downtown.

Dyal-Upchurch building at 4 E. Bay St. Downtown.

Hanania said he is searching for an office property Downtown for the Hanania Automotive Group's corporate headquarters.

The group, based at 7220 Blanding Blvd., employs 25-35 employees at the headquarters and he wants space to expand.

Hanania, a Jacksonville native, started in automotive sales in 1983. After 18 years in the automotive industry, he bought Acura of Orange Park and established Hanania Automotive Group.

The business comprises 18 franchises in Florida, Alabama, Tennessee and Pennsylvania.

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