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Jax Daily Record Thursday, Jan. 25, 201804:44 AM EST

Hines buys more land along Gate Parkway

Property for second phase of Southside Quarter development acquired for $12.63M.

Global real estate firm Hines, through S-15 Land Holdings LLC, bought 47.38 acres along Gate Parkway for the second phase of its Southside Quarter development.

Hines paid $12.63 million for the property Jan. 16, according to a deed recorded last week with the Duval County Clerk of Courts.

Property records show the land includes acreage designated for retail, residential and office use and for outparcels. Hines bought it from He Otter LLC and He Shoulda Investments, led by Lanny Thomas and Charles Brightman Skinner Jr.

A Hines spokesman had no comment.

Hines, based in Houston, is developing Southside Quarter along Gate Parkway at southwest Butler Boulevard and Interstate 295.

It was reported early in the deal that Hines contracted for about 116 acres, of which 75 acres can be developed.  Hines markets the project as a 105-acre development.

For the first phase, Hines paid $20 million for 69 acres in October 2016.

On that land, Hines is developing an apartment project on 11 acres and sold 6.05 acres in late June to David Weekley Homes for a 135-unit single-family and townhouse community called Tidal Pointe at Southside Quarter.

Hines also is planning the first of two office buildings on 29.79 acres on the northwest side of the property. It filed plans with the city for the four-story, almost 124,000-square-foot building.

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