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Jax Daily Record Friday, Aug. 11, 201707:00 AM EST

Starbucks building stand-alone Windsor Commons store

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But don’t look for beer and wine, despite zoning requests.

Starbucks Coffee Co. confirms it will open a new stand-alone shop next year at 4765 Hodges Blvd. in Windsor Commons, replacing the existing store within the shopping center.

The new building is designed as a 60-seat, more than 2,100-square-foot structure with a drive-thru.

Despite requests for a zoning exception and waiver, however, Starbucks said it will not be serving beer and wine at the location.

Applications submitted July 28 for a zoning exception and a waiver of minimum distance from a school from 1,500 to 1,200 feet state that Starbucks would be allowed to provide their customers beer and wine within its new building.

The applicant was agent Kimley-Horn and Associates Inc. on behalf of the property owner, Windsor Commons Shopping Center Inc.

A Starbucks spokesperson said the company was not the direct applicant.

“We’ll have more details to share in the coming months, however (we) can confirm this location will not be serving beer and wine,” said an email from Starbucks public relations.

In January, Starbucks said it would stop selling beer and wine at more than 400 U.S. stores as it ended its “Starbucks Evenings” program, which began in 2010.

The Seattle-based company said in 2014 it would expand the program but said in January it would end that but integrate beer and wine into its high-end Roastery stores.

Casa del Rio apartments sold

Addison, Texas-based S2 Capital LLC, through S2 Casa Del Rio LP, bought the Casa del Rio apartment complex in Arlington on Friday for $28.3 million from an ownership group led by New York investor Pinchos Shemano.

Co-founder and Managing Partner Scott Everett of SC Capital said in July the group intended to buy the 458-unit Casa del Rio apartments near Jacksonville University in August and invest $5 million in renovations.

It bought the property from Casa Del Rio 2016 LLC, led by Shemano. The apartments, at 3500 University Blvd. N., were built in 1973 and 1975, property records show.

Jones Lang LaSalle Multifamily LLC issued a $22.8 million mortgage to S2 Casa Del Rio LP.

The apartment investor bought the Mathews Crossing Apartment Homes complex along Atlantic Boulevard in June for $49.5 million from groups led by Shemano.

The 1,103-unit community, not far from Regency Square Mall in Arlington, is the largest apartment complex in the area.

Everett said it will be renamed and updated with $12 million in exterior and interior renovations. Mathews Crossing, at 400 Century Drive and 401 Century Drive E., was built in 1972 and 1973.

Everett said S2 Capital likes to invest in “mismanaged, neglected properties,” indicating it is a successful strategy. Its website says its strategy is to make “cost-effective improvements” to provide tenants with “the best apartment, service, and living experience within the submarket.”

Spiller joins Franklin Street

Justin Spiller joined Franklin Street in July as associate director, retail investments, which is a new position for the growing Jacksonville office of the full-service commercial real estate company.

Spiller specializes in representing investors in the sale and purchase of single-tenant net lease and multitenant retail properties throughout North Florida and the Southeast.  He works with clients to maximize returns on commercial real estate investments.

Franklin Street said Spiller’s commercial real estate law background assists in his negotiations and management of retail investment transactions.

Yvonne Baker, regional managing partner for Franklin Street, said Spiller is “a perfect fit for the collaborative culture at Franklin Street.”

Spiller was a founding member of North Miami Beach-based Tiktin Real Estate Investment Services, where he was senior investment sales associate. He began his career as an attorney at Rogers Towers, focusing on commercial real estate, representing shopping center developers.

He also served as an investment associate for the national retail group at Marcus & Millichap in Miami, where he worked with and advised high-net-worth clients in the sale of commercial retail investments.

Praedium Group pays $57M to buy  apartments

The New York City-based The Praedium Group LLC, a national real estate investment firm, bought The Views at Harbortown apartments for $57.25 million.

Built in 2015, The Views at Harbortown along the Intracoastal Waterway comprises 300 one-, two- and three-bedroom units from 713 to 1,570 square feet in size.

Interiors include kitchen islands, tiled flooring in bathrooms, walk-in closets, track lighting and washer-dryers.

Community amenities include a clubhouse with lounge areas and a billiards room, a sundeck with Wi-Fi, two resort-style swimming pools with cabanas, a cyberlounge and business center, a fitness center, picnic areas with grills, and controlled-access gated entry and exit.

The property also owns three marina boat slips, of which two can fit up to a 40-foot boat and a smaller one that can fit up to a 19-foot boat.

Praedium Group, through Coral Drive Owner LLC, bought the property from Fairfield Harbortown LLC of San Diego.

The community occupies 12.1 acres at 14030 Atlantic Blvd. and was built in 2014.

 

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