Ash Properties, a Jacksonville-based retail and office developer, is branching even further into the Flagler Center area in South Jacksonville.
An affiliate of Ash Properties paid almost $2.35 million last week to buy 9 acres along Old St. Augustine Road, where it has rights to build up to 134,000 square feet among three or four buildings.
Randall Whitfield, vice president of Ash Properties, said Thursday work could start in 45 to 60 days on the unnamed commercial center. He expects to build retail, office and service establishments, but declined to name the tenants who are interested in the site.
The development is within Flagler Center, which comprises about 1,000 acres in Jacksonville south of Old St. Augustine Road between Interstate 95 and Philips Highway.
Baptist Medical Center South, Citicorp and Web.com are a few of the organizations that operate there, a high-profile development that welcomes drivers heading north into Jacksonville along I-95.
The project won’t be Ash Properties’ first development in the neighborhood, which is why it’s interested in doing more.
“We have property in the area there and it’s done very well,” Whitfield said.
The company’s The Shoppes of Durbin Crossing center is at the corner of Philips Highway and Old St. Augustine Road, across from Flagler Center. That 122,000-square-foot center has two retail buildings, a self-storage center and three outparcels. Tenants include a Rebounderz fun center, restaurants, a gift shop and other services.
Ash Properties promotes the location for its closeness to the housing centers in Bartram Park, Nocatee and Palencia, which are popular housing centers in South Jacksonville and in St. Johns County.
Flagler Vision LLC is the Ash Properties affiliate that bought the property. It is controlled by Miklaine LLC, whose manager is Elaine Ashourian at the Ash Properties office at 7880 Gate Parkway.
The property is south of Old St. Augustine Road between Flagler Center Boulevard and Kenan Drive. Property records show it as timberland that can be used for a business park and light industrial development.
Whitfield said the project will represent a substantial investment, but declined to speculate on the cost until more details were nailed down.
Two of Ash Properties’ other higher-profile area projects are Baymeadows Junction, a retail center at Baymeadows Road and Philips Highway, and its three-story headquarters office building at Gate Parkway and the Interstate 295 East Beltway.
FDG Flagler Center Land LLC and FC Land Parcels LLC, both part of the Flagler commercial real estate company based in Coral Gables, sold the land. Flagler is a wholly owned subsidiary of Florida East Coast Industries Inc.
Flagler owns 2,500 acres in Florida land with entitlements in place for more than 14 million square feet of development.
Flagler Center is entitled for office, retail, multifamily and hotel development.
Flagler has been selling property there, including developed structures and undeveloped land.
In August, Crocker Partners and Investcorp paid $133.2 million for 12 buildings, totaling about 1.4 million square feet of office and industrial space, in Flagler Center.
Another large organization will soon take shape there, too.
In late 2012, Jacksonville-based Ja-Ru Inc., which imports and distributes toys, bought 31.7 acres for $3 million.
The city issued a building permit Wednesday for the $12.8 million first phase of its Flagler Center headquarters and distribution center.
Jacksonville-based Ja-Ru intends to consolidate operations from its current headquarters and warehouse at 4030 Philips Highway and two other warehouses. Plans show the new project as a two-phase, almost 490,000-square-foot operation.
The first phase is a 352,677-square-foot building on 22.05 acres at 12901 Flagler Center Blvd.
Meanwhile, Flagler, through FDG Southpoint LLC, also sold property in Southpoint to Jacksonville Clinic Medical Plaza LLC last week. Flagler sold a 57,000-square-foot office building on 9.5 acres at 7011 A.C. Skinner Parkway for $6.45 million.
Jacksonville Clinic Medical Plaza LLC is led by cardiologist Yazan Khatib, who is based at 3900 University Blvd. S. The limited liability company took out a $5.16 million mortgage from Ameris Bank.
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