Shad Khan passes on company after due diligence

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Jacksonville Jaguars owner Shad Khan continues to invest in Jacksonville, although he took a pass on a recent possibility.

Last week, his investment executive, Jim Zsebok, filed articles of incorporation for “Automotive Scan Technologies LLC” with the state. The Aug. 20 filing listed an initial principal address at 1030 Ellis Road N., which is the warehouse Khan recently bought. Zsebok is the sole manager of the company, the filing shows.

The deal isn’t taking place, though.

“We were in advanced discussions with a company needing assistance,” Zsebok said. “However, our due diligence brought up some issues we couldn’t overcome and we have since terminated our letter of intent.”

No further information was included in the state filing about the nature of Automotive Scan Technologies.

Khan owns Flex-N-Gate Corp., an Illinois-based auto parts manufacturer, so the possibility of investing in an auto technology company didn’t seem like a surprising fit.

Khan spokesman Jim Woodcock said the group passes on a lot of things, some which don’t reach incorporation.

Khan has been investing in area companies since his $760 million purchase of the Jaguars in early 2012.

In addition to the franchise and his investment in EverBank Field renovations, he created Stache Investments Corp. in April 2012 to finance small businesses and entrepreneurs.

Among his recent investments are US Culinary and Beverage LLC, Edgewood Bakery LL and Casework of America Inc.

In late May, Casework of America Inc. paid $3.7 million for the West Jacksonville warehouse at 1030 Ellis Road N. The 144,000-square-foot warehouse sits on almost 7 acres.

Casework makes furniture and furnishings for commercial use. Its directors are Thomas Clarkson and Zsebok, both of Naples. The address is at Stache Investments Corp.

Khan is president and director of Stache Investments and Clarkson is secretary and treasurer.

He also has financed purchases of the old Barnett Bank Building and the Laura Street Trio Downtown and is backing Heritage Farms Jacksonville and L&J Diesel Service Inc.

Stache also created the KYN Downtown business accelerator and has pledged support to One Spark creators.

One of the largest potential investments is the vacant Downtown Shipyards property, which is near EverBank Field and is the most visible open space along the St. Johns River on Downtown’s Northbank.

Jaguars President Mark Lamping said in late July that Khan continues due diligence on the Shipyards property and, pending that review, could submit a development proposal to the city around the Sept. 7 start of the regular season.

Woodcock said Thursday there was nothing to discuss regarding a Shipyards proposal.

“To be clear, there is no delay, no deadline, no timeline. We merely said we hoped to be able to speak to something around the start of the NFL season, which indeed is next week,” he said.

“We’ll share our thoughts when the time is appropriate and cannot speculate as to when that will be.”

The Jaguars open the regular season Sept. 7 at the Philadelphia Eagles. The first home game will be Sept. 21 against the Indianapolis Colts.

Dolphin Dorms files site plans

Dolphin Dorms LLC filed site plans with the city for the four-story student housing project to serve Jacksonville University students just north of the Arlington campus.

The 144-unit, 277-bed dorm building is designed on 4.88 acres. The 70,000-square-foot building will comprise 132 double-occupancy dorm rooms, 10 residential adviser single-occupancy rooms, one one-bedroom apartment and one two-bedroom apartment.

Taylor & White Inc. is the project civil engineer.

Jacksonville University said in June the dorm should be completed in fall 2015.

More senior living on the way

Plans surfaced in the city’s Concurrency and Mobility Management System Office for several more senior housing communities:

• Peyton Ridge, an affordable housing development for seniors. The 7-acre project is along Corporate Square Boulevard, south of Atlantic Boulevard. The 123 apartments would offer 185 beds and would be built in one phase. Plans show a three-story, 119,664-square-foot building. The agent and developer is Peyton Ridge Community Ltd., whose general partner is Peyton Ridge LLC. Vestcor Inc. is the manager of the limited liability company. The developer is listed as TVC Development Inc., whose managers include Vestcor executives.

• Caroline Oaks, a project along North Main Street between 41st and 42nd streets east. The 81-room, 121-bed project is planned on about 4 undeveloped acres. Eisman & Russo is the agent and The St. Joe Co. of Panama City Beach is the property owner.

• Miriam Lodge, senior housing at 8341 Herlong Road. The 30-bed lodge would be developed on 3.9 acres. Solid Rock Engineering Consultants Inc. is the agent.

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