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Jax Daily Record Friday, Nov. 29, 201312:00 PM EST

Retail Strategies plans 2 buildings


Retail Strategies LLC, headed by developer Peter Sleiman, applied to the city for permits to build two tenant shell buildings in Avenues Square and Oakleaf Plaza.

TICON Inc. is the contractor and EnVision Design + Engineering LLC is the civil engineer for each.

Plans call for:

• Oakleaf Plaza — An 8,500-square-foot retail center on 3.8 acres at 9660 Argyle Forest Blvd. The project cost is $350,000.

• Avenues Square — A 6,100-square-foot multitenant building on 0.53 acre at 8050 Philips Ave. The project cost is $400,000 project. The project is on an outparcel at BJ's Wholesale Club. Plans show parking will be provided for a 3,000-square-foot, 100-seat restaurant and for nonrestaurant space.

Magna Hospitality buys Beaches hotel for $26.5 million

Magna Hospitality Group has no comment about its purchase of the oceanfront Hampton Inn Jacksonville Beach for $26.5 million.

A woman who answered the telephone for Magna Hospitality President and CEO Robert Indeglia Jr. said Tuesday the company has "no comment at his time."

MHF Jacksonville Beach IV LLC, part of Magna Hospitality, bought the seven-story, 177-room property and a parking lot on 3.27 acres at 1502 and 1515 N. First St. from W2007 EQI Jacksonville Beach Partnership L.P.

JPMorgan Chase issued a $13.15 million mortgage to MHF Jacksonville Beach IV LLC and to MHF Jacksonville Beach Operating IV LLC.

The deed and mortgage were made Nov. 5 and recorded Monday.

Magna Hospitality is based in Warwick, R.I. It describes itself as a hotel real estate investment firm with more than $1 billion in hotel real estate under management and development.

Property records show the Hampton Inn Jacksonville Beach property was built in 1973. It also was a former Comfort Inn Oceanfront.

Its 2014 market value in progress is $10.3 million and its 2013 taxable value is $7.7 million. reports that Magna, co-founded in 1998 by Indeglia, owns and/or operates 19 hotels with more than 3,800 rooms and more than 1,200 employees.

Magna said it also has under active development five hotels with an anticipated 700 additional rooms.

Magna has owned or operated hotels throughout the United States and in Canada. The bulk of its portfolio now is on the U.S. East Coast.

Its brands include Hilton, Hilton Garden Inn, Hampton Inn & Suites, Homewood Suites, Doubletree, Marriott, Holiday Inn & Suites, and Holiday Inn Express & Suites, Sheraton and Element, among others.

Magna also owns and/or operates upscale boutique and independent hotels.

"Magna has created a premier hotel portfolio that has consistently produced returns in excess of its investor's expectations, and is poised to continue to grow its portfolio," says the website.

Jacksonville restaurants win Trend awards

Florida Trend magazine announced its Golden Spoon Awards this week and several Jacksonville-area restaurants were recognized.

Best New Restaurants, location and type of food:

• Black Sheep, Jacksonville, Modern American.

• Maple Street Biscuit Co., Jacksonville Beach, Southern.

Hall of Fame, location and type of food:

• Salt, Amelia Island, Modern American.

• Bistro AIX, Jacksonville, Mediterranean.

• Matthew's, Jacksonville, Mediterranean.

• Marker 32, Jacksonville Beach, Seafood.

• 95 Cordova, St. Augustine, New Continental.

Golden Spoon Awards, location and type of food:

• Azurea, Atlantic Beach, Seafood.

• 29 South, Fernandina Beach, Contemporary Continental.

• Blue Bamboo, Jacksonville, Contemporary Asian.

• Restaurant Orsay, Jacksonville, French/American Bistro.

• Taverna, Jacksonville, European.

• 11 South, Jacksonville Beach, Contemporary.

And Best Brands: Salt Life Food Shack, Jacksonville Beach.

BJ's sells River City Marketplace property

BJ's Restaurants Inc. sold its River City Marketplace property to a New York limited liability company for $4.1 million.

The restaurant company, based in Huntington Beach, Calif., sold the property to 153-155 East 37th St. LLC.

The BJ's continues to operate at 15022 Max Leggett Parkway.

BJ's bought the land from marketplace developer Ramco Duval TRS LLC in January for $2.6 million. The BJ's restaurant was built this year at a construction cost of $1.95 million.

The first BJ's restaurant in Jacksonville is near the St. Johns Town Center.

BJ's bought the property from the Skinner family in March 2011 for $2.6 million and sold it in June 2011 to investors for $3.1 million and is leasing it.

That restaurant was built in 2011 at construction cost of $1.4 million.

Palms at Ponte Vedra earns permit

The St. Johns River Water Management District issued notice that it intends to grant a permit for Palms at Ponte Vedra, an 86-unit assisted living facility in St. Johns County.

As reported in June, Palms at Ponte Vedra is planned at 375 Solana Road in Ponte Vedra Beach. Property owner Solana Capital Ventures LLC filed plans for the proposed $9.6 million project, and developer and owner Steven Sell said that pending approvals, construction should be completed and the center open in October.

A landscape plan filed with the St. Johns River Water Management District application shows the Palms at Ponte Vedra as a two-story, 75,512-square-foot center on 4.7 acres at Solana Road and Solano Cay Circle.

A project narrative by consultant Inman Engineering described the project as a two-story, 75,500-square-foot building with 86 units and 92 beds.

Health Care Managers Inc. is the owner and developer. The architect is Architectural Concepts Inc.

Jacksonville foreclosure rates decline

Mortgage foreclosure and delinquency rates declined in September in Jacksonville, but are twice the national rate.

The CoreLogic research firm reports that foreclosure rates among outstanding mortgage loans in Jacksonville fell from 8.64 percent in September 2012 to 5.69 percent in September 2013..

The national rate is 2.29 percent.

The mortgage delinquency rate dropped as well. As of September, 10.58 percent of mortgage loans in Jacksonville were delinquent by 90 days or more, down from 13.81 percent the year before.

The national rate was 5.21 percent.

But while Jacksonville's rate was twice the national rate, it still was below the Florida rate.

The statewide foreclosure rate was 7.41 percent and its 90-day delinquency rate was 11.94 percent.

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