Chevron U.S.A. Inc. sold its Jacksonville petroleum products terminal company along Talleyrand Avenue to Center Point Terminal Co. for almost $21 million.
Steven Twele, chief financial officer for St. Louis-based Center Point Terminal, said Wednesday the company owns adjacent property and the deal made sense.
"When Chevron decided to put their terminal up for sale, we decided that was a natural fit since it was next to us and we felt we could be the most efficient operator of it," he said.
Twele said Center Point, which bought its property in 2007, completed its terminal in early 2011.
Twele explained that as an independent terminal operator, it stores product for its customers, which he declined to name, citing confidentiality.
"Our employees bring the product in. If it needs blending, mixing or additives, we do that. We have custody of the product and most of it leaves the terminal by truck, so local trucks come in and transport it to local retail outlets," he said.
The special warranty deed for the former Chevron terminal at 3117 Talleyrand Ave. was signed April 10 and recorded Tuesday with the Clerk of Court.
Chevron is based in San Ramon, Calif., and Center Point Terminal is based in the St. Louis suburb of Clayton. Twele said it operates terminals along the East and Gulf Coasts and in the Midwest. He said it has a little more than 12 million barrels of storage capacity.
Property records show 3117 Talleyrand Ave. comprises 26 acres and 14 buildings at a 2012 taxable value of $6.4 million. The ownership has been listed as Standard Oil Co. in care of Chevron USA Inc. of Houston.
Records show the 14 buildings comprise open storage, cash booths, a utility building, office space and warehouses.
Center Point Terminal Co. has four buildings on 11 acres at 3101 Talleyrand Ave. The buildings include warehouses and office and industrial space. That property has a 2012 taxable value of almost $3.2 million.
Center Point Terminal also owns 1.16 acres that are vacant along Talleyrand Avenue. The property does not have an address and is zoned heavy industrial.
The acquisition increases Center Point Terminal's property holdings along Talleyrand Avenue to more than 38 acres.
Twele said the property Center Point Terminal initially acquired had contained an old terminal. "We bought it and tore everything down to the ground and started from scratch," he said.
Sean Comey, Chevron Corp. external communications adviser, said in an email he could confirm that Chevron has signed a definitive purchase and sale agreement "pursuant to which Chevron has agreed to sell the Jacksonville, Florida Petroleum Storage Terminal Asset to Center Point Terminal Company."
Comey said the company "has determined that it is not strategic to maintain ownership of the facility."
He said the transaction was completed April 10. He said Chevron had three full-time employees at the terminal.
"During the transition period between the execution of the PSA and the closing of the sale of the terminal to Center Point, the terminal continued operating in the ordinary course of business with Chevron's focus on operating safely, reliably and efficiently while continuing to meet customers' needs," Comey said.
Twele said he believes that Center Point has "picked up the employees on the Chevron terminal."
Twele said Center Point Terminal has seen major oil companies selling terminals. "There may be a trend there," he said.
In February, BP Products North America Inc. sold its North Jacksonville petroleum bulk storage terminal to Blanchard Terminal, part of Marathon Petroleum Corp., for $12.72 million.
News of that sale was included in an Oct. 8 release by BP. The company announced it reached an agreement to sell its Texas City refinery and part of its retail and logistics network in the Southeast U.S. to Marathon Petroleum Corp.
BP said the sale would reduce its presence in the Southeast U.S., but it "remains firmly committed to growing and strengthening our BP-branded retail network and the value of the BP brand east of the Rockies in partnership with BP-branded jobbers and dealers."
BP has been working through the aftermath of the April 20, 2010, explosion aboard the Deepwater Horizon oil-drilling rig in the Gulf of Mexico connected to BP. As a result, 11 people died and others were injured and the explosion led to what has been reported as the largest accidental oil spill in history.
BP is based in London and its U.S. service center is based in Naperville, Ill., near Chicago.
BP has been divesting properties, according to news reports. In reporting third-quarter financial results Oct. 30, BP referred to the divestments.
"BP will continue to reshape and focus its business portfolio around its key operating strengths," it said.
GO Pull-It construction OK'd
The City approved the building permit for Stipe Construction Inc. for a 6,500-square-foot pre-engineered building at 7282 Commonwealth Ave. at a project cost of $365,550.
As previously reported, GO Auto Recycling co-owners Brian Shell and Jason Finley plan to open a self-service operation called GO Pull-It on the West Jacksonville property acquired by Mervis Industries Inc.
The $4.5 million project, including the cost of land, is expected to result in 12-15 jobs and will open in July or August.
Shell and Finley have partnered with Mervis on the GO Auto brand.
Shell and Finley said in a news release in March that after more than three years in the wholesale, full-service auto-parts business at 12270 New Kings Road, they will open the self-service GO Pull-It at 7282 Commonwealth Ave.
"This expansion will allow us to better serve our customers from professional repair facilities to the DIY mechanics," they said in a statement, referring to customers that include the do-it-yourself market.
"Having both full-service and self-service locations allows us to provide our customers with a wider range of make/model/year vehicles as well as an option to pull their own parts or have us do the work for them," they said.
Shell and Finley said they employ 30 people at their full-service location, having begun in Jacksonville in 2009 with two employees. The expansion boosts employment to more than 40 jobs.
The GO Pull-It will be the first phase of development on the 50-acre site. The initial expansion will take 20 acres.
Plans show a 6,150-square-foot enclosed building, comprising 2,800 square feet for office use and 3,350 square feet of warehousing, along with another 1,500 square feet of unenclosed space.
Mervis paid $2 million for the 50 acres along Commonwealth Avenue, west of Interstate 295 and Pickettville Road. It bought the property Nov. 5 from Florida Rock Properties Inc. Site plans filed with the City and the St. Johns River Water Management District show a three-phase development on the property.
Mervis is an Illinois-based family-owned recycling company that buys and sells materials.
7-Eleven planned at Flagler Center
Augustine Kenan LLC bought property in Flagler Center for development of a 7-Eleven convenience store and fuel service at Old St. Augustine Road and Kenan Drive.
Augustine Kenan LLC of Texas paid $525,000 for the property, which it acquired from FC Land Parcels LLC of Coral Gables.
Plans filed with the St. Johns River Water Management District show 7-Eleven proposes a 3,130-square-foot store on 1.22 acres at 14826 Old St. Augustine Road.
The developer is shown on plans as 7-Eleven, based in Dallas.
The City is reviewing four building permits for the 7-Eleven at a project cost totaling more than $1 million. The permits comprise the store, the underground storage tanks the fuel canopy and the trash enclosure.
Publix renovating along Merrill Road
Publix Super Markets Inc., which has been renovating and rebuilding stores around Northeast Florida, has been approved to remodel its store at 9100 Merrill Road, near the Southside Connector and the Interstate 295 East Beltway.
McIntyre Elwell & Strammer General Contractors Inc. is the contractor for the $517,838 project, which the City approved this week.
The building-permit application calls the interior-décor package “Invigorate.”
In recent months, the City also has approved permits for McIntyre Elwell & Strammer of Sarasota to renovate the Publix at 7749 Normandy Blvd., including the pharmacy, at a project cost of $160,000, and for the Kernan Square store at 12620 Beach Blvd. at a cost of $400,000.
Also, plans are under review for a potential reconstruction of the East Arlington Publix in Cobblestone Crossing at 2771 Monument Road.
Great Clips, O'Charley's
• The City OK'd build-out for Great Clips in Deerwood Village Mall at 9936 Old Baymeadows Road. Success Builders of Fruit Cove is the contractor for the $56,000 project of 1,250 square feet of space.
• O'Charley's Restaurant & Bar is putting up new signs at its Regency area restaurant. General Sign Service is the contractor for the five wall signs, at $11,500, at 410 Commerce Center Drive.
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