From the Daily Record
The Dalton Agency building Downtown is listed for sale at $4.2 million, a move agency and property partner Michael Munz described last month as “testing the waters.”
People showed interest in the building, at 140 W. Monroe St. facing Hemming Plaza, during the One Spark crowdfunding festival in April, he said.
“We thought maybe the time is right,” Munz said. “When enough people show interest, maybe it is for sale.”
Munz, Jim Dalton and Dave Josserand bought the building in 2008 for $4.2 million.
Addison Commercial Real Estate is listing the building. A marketing brochure says the owner will consider a long-term lease or would sell to an owner-user and vacate the building.
In that event, Dalton would likely move to another Downtown location, Munz said.
The city is continuing preparations to clear and grade property in Cecil Commerce Center’s designated mega-site, south of Interstate 10 and north of the end of Waterworks Street.
No project has yet been identified, but the St. Johns River Water Management District has issued a permit to clear, grade, fill wetlands and build a borrow pit on 358 acres in the Westside industrial and business park.
A location map included with the filing indicates it is within the 1,500-acre mega-site certified by CSX/McCallum-Sweeney. The certification is considered a significant step for marketing industrial properties, setting up standards that allow a user to be operational with 12 months.
Cecil’s website, jaxcecilcommercecenter.com, describes the property having “suitable infrastructure to support a major manufacturing facility.”
Wells Fargo Center sale likely within month
The 37-story Wells Fargo Center could be sold this month, according to the broker marketing the Downtown tower.
“A transaction will occur during the second quarter of 2014,” said CBRE Senior Vice President Michael Harrell, adding in May that he believes the deal is “a month out from a transaction.”
He said he could not speak to any of the details, such as whether the building was under contract or the identity of the prospective buyer.
The Wells Fargo Center is one of three landmark Northbank Downtown towers for sale could change hands by the summer.
Also for sale are the 42-story Bank of America Tower at 50 N. Laura St. and the 30-story EverBank Center at 301 W. Bay St.
• Mussallem Galleries, a five-generation family business that sells Oriental rugs and fine art, has listed its high-profile property at 5801 Philips Highway for sale at $11.2 million.
Mussallem President James Mussallem said Wednesday the business doesn’t need a building the size of the 77,000-square-foot gallery and warehouse at Philips Highway. He intends to build a smaller 30,000-square-foot center either onsite, if the new owner can accommodate it, or in the San Marco area.
• Rimrock Devlin LLC is planning a 274-bed freshmen dorm for Jacksonville University at Dolphin Reef, located at 3812 University Blvd. N.
Developer Wally Devlin with Rimrock Devlin said his group is scheduled to close on the purchase July 24. A rezoning request indicates, along with student housing, there will be up to 175,000 square feet of office and retail commercial uses, other housing, including housing for the aging and elderly that could be associated with the JU nursing school, and parks and recreational uses.
• A $7 million University of North Florida Student Assembly Center on a wooded, waterfront site east of the Herbert University Center is in regulatory review.
The student assembly facility will serve as a place for meditation, religious services of all faiths, lectures, seminars, group discussions and small music performances and retreats, said Shari Shuman, UNF vice president of administration and finance.
About $1.7 million has been raised from donors and the balance of the cost will come from student fees. JBC Planning & Engineering LLC is the engineering consultant, Environmental Services Inc. is the environmental consultant, and Kaspar Architecture is designing the structure.
• LTI Property Jacksonville LLC, whose managers include the president of Advantus Corp., paid $3.5 million for property in Oakleaf Plantation for development of Oakleaf Corner, a commercial project.
The 11.6-acre project is located at northeast Argyle Forest Boulevard and Old Middleburg Road South.
Plans specify development of six parcels for commercial development.
Kevin Carpenter and Scott Miller are listed as LTI Property Jacksonville’s managers. Carpenter is also president of Advantus.