Office owned by the late Raymond K. Mason sold to San Marco property investor.
Raymond K. Mason’s remaining operations are winding down.
Days after the legendary businessman died Jan. 2, a company he led sold its San Marco office building to the owners of adjacent property.
“We are closing down the operations, basically within six months. We will be done by June 1,” said Marcy Mason Moody, Mason’s daughter.
The property sale provides the buyer control over several properties along Hendricks Avenue, south of Atlantic Boulevard at the edge of the historic San Marco Square shopping district.
Buyer Keith Kimball, a San Marco property investor since the 1970s, said the Mason group will continue to lease the building for now.
Kimball said Jan. 11 that he didn’t have a plan for the property. He said the office use might change and more likely will be retail.
“I think property in San Marco is good, so I like to buy it whenever it is available,” Kimball said.
Rebuilding Service Inc., also known as Rebuilding Services Inc., sold 2022 Hendricks Ave. on Jan. 7 to Five and Ten Partners LLC for $750,000.
The 4,952-square-foot one-story San Marco building, developed in 1945, later served as Mason’s office. Moody said Mason bought the building in 1998.
Moody, as vice president of Rebuilding Service, signed the deed. Raymond K. Mason is listed in state records as president.
Five and Ten Partners LLC is a Jacksonville-based company led by Keith and Joyce Kimball.
The Kimballs also own 2000 and 2016 Hendricks Ave.
Tenants at 2000 Hendricks Ave. include Marble Slab Creamery and Roosters Men’s Grooming Center. The 2016 Hendricks Ave. tenants include The Posting House.
Moody said Mason operated venture capital and private equity investments at the office. She said she has been managing those from her laptop and cellphone.
“I have not needed those offices,” she said. “We don’t need the brick-and-mortar.”
Moody said the decision does not affect Mason’s investment in Jacksonville Beach-based Intrepid Capital, which manages mutual funds and private clients’ wealth management, or Sentry View Systems of Melbourne, which makes remote power management and surveillance systems for government use.
Moody said Mason had not been involved in the active management of those two businesses.
Mason, who died at the age of 92, built The Charter Co. into a diverse global oil and insurance conglomerate that reached No. 61 on the Fortune 500 list of America’s corporations with 1983 revenue of $5.6 billion.
The Jacksonville-based company filed for Chapter 11 bankruptcy reorganization in 1984 and emerged in 1987 as a different corporation after selling off many of its businesses.