Capital Bank Corp. issued a $18.5 million mortgage to Concord Jacksonville TC LLC to develop a Hyatt Place hotel in The Strand at Town Center.
Raleigh, North Carolina-based Concord paid $4 million for the property in March, buying it from PGP Jacksonville TC LLC, a Preferred Growth Properties company.
Capital Bank made the mortgage June 7 and it was recorded Monday with the Duval County Clerk of Court.
Concord Hospitality Enterprises Co. filed plans last year to develop the 160-room Hyatt Place hotel on 2.79 acres along Town Center Parkway.
Preferred Growth is the real-estate subsidiary of Books-A-Million and is developing The Strand and The Crossing at Town Center.
Hyatt Place is a brand of Chicago-based Hyatt Hotels Corp. Just north of The Strand, a 98-room Tru by Hilton, a new brand, is in development at Town Center Promenade.
Averitt distribution center progressing
The city issued a mobility fee calculation certificate for Averitt Express Inc. to develop a warehouse and package distribution center in West Jacksonville.
Averitt plans to develop the 65,600-square-foot center on 20.7 acres it owns at 7200 Commonwealth Ave.
The city calculated a $58,228 mobility fee to offset the project’s impact on transportation.
The property is west of Interstate 295 and Pickettville Road and south of Commonwealth Avenue.
A spokesman said previously that Averitt will build the facility “to be able to better provide domestic and international distribution for all of our customers across the United States.”
Brad Brown, Averitt marketing and communications manager, said the center will be used for distribution of domestic freight and international cargo.
Even though Amazon.com is one of Averitt’s many customers, Brown said Averitt’s center is not being built for the Seattle-based e-commerce retailer.
In addition to two fulfillment centers and a sortation center, Amazon is setting up a 63,000-square-foot delivery station in leased space at 11084 Cabot Commerce Circle in the North Jacksonville Alta Lakes Commerce Center.
Amazon packages are shipped to delivery stations to handle last-mile delivery through the use of local couriers. The delivery stations, typically 60,000 to 100,000 square feet, represent the last leg of delivery.
Averitt Express is seeking a zoning administrative deviation to increase parking to serve the proposed regional package distribution facility in West Jacksonville.
Zoning documents say it is for a national company. Averitt needed to increase the maximum number of off-street parking spaces from 30 to 83.
The written justification for the deviation explains that the project would operate 24 hours a day, six days a week.
The request says the facility will operate a truck terminal and cross-dock warehouse and will accommodate drivers and operators in addition to warehouse and office workers.
Averitt Express, based in Cookeville, Tennessee, bought the property in November from N.G. Wade Investment Co.
Brown said previously Averitt is that end user and that the facility can serve tens of thousands of its customers and distributes commercial and industrial freight such as general manufacturing, retail, automotive, chemical, apparel and other types.
He said Wednesday the company wants to start construction in the third quarter.
Brown said Averitt employs 77 people at a smaller location in Jacksonville at 723 Scotia Road and expects that number to grow significantly with the new center.
The existing location would close after Averitt takes occupancy of the new facility.
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