Gate Petroleum Co. completed its purchase Friday of 37.1 acres from the Diocese of St. Augustine for $2.7 million.
The Daily Record reported Oct. 1 that Jacksonville-based Gate contracted to buy the undeveloped property, which is east along Philips Highway in the Bayard area south of the Florida 9B interchange and south of Gran Bay Parkway, for the $2.7 million price.
Gate said it was buying the property to expand its convenience store chain. In addition to building a store, it will develop and sell outparcels to commercial users.
A drainage plan filed with the St. Johns River Water Management District shows six parcels, ranging from 1.4 to 2.6 acres, totaling 11.7 acres.
Gate has 72 stores in five states – Florida, Georgia, Kentucky and North and South Carolina. Gate, with 40 convenience stores in Northeast Florida and 28 in Duval County alone, currently is developing a gas station/convenience store near St. Johns Town Center, intends to build another along Emerson Street at Interstate 95 and filed plans for another at Baymeadows Road East and R.G. Skinner Boulevard.
Duval County property records show the 2013 and 2014 market value of the Bayard site as $518,520.
The Diocese said it was surplus property and it had no specific plans to develop it.
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