Stiles and Cantrell & Morgan to develop 74,000-square-foot project.
Cantrell & Morgan Inc. and Stiles Corp. announced Thursday that their joint venture will break ground early next year on 6 acres south of Topgolf for a $14 million, 74,000-square-foot retail project.
Cantrell & Morgan CEO Chris Morgan said the venture bought the property last week from the Skinner family for $3.95 million.
The deed, recorded today with the Duval County Clerk of Courts, names the buyer as F + D JAX LLC, led by S/CM FD JAX LLC of Fort Lauderdale. Stiles is based in Fort Lauderdale.
The news release did not identify the retailer for the project. The identity also was not included in an application for a Planned Unit Development modification for the project.
The city reviewed a site-plan modification for an unidentified 74,000-square-foot flooring outlet on the property.
While Smyrna, Georgia-based Floor & Décor has not commented, the flooring products chain matches the description of the project.
Floor & Décor Holdings Inc. operates warehouse-format stores that average 72,000 square feet.
The project should be ready for tenant build-out by late next year. Morgan anticipates it will open in early 2019.
The site is along Interstate 295 next to St. Johns Town Center.
Stiles President Ryan Karlin said in a news release that the two companies are “committed to delivering a quality, shopping experience in this very strategic market. “
“We truly appreciate the success of the Town Center area and it is important to us that we provide the people of North Florida desirable retail opportunities that complement their lifestyles and needs,” he said.
Jacksonville-based Cantrell & Morgan says it is the largest locally owned and privately held commercial real estate firm in North Florida.
It specializes in retail development, brokerage and property management.
Stiles is a full-service commercial real estate firm that offers development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing.