Restaurateur Jonathan Insetta, who operates two high-profile neighborhood restaurants with another in progress Downtown, now has another building available on the Northbank.
Retired NFL wide receiver Laveranues Coles Jr. conveyed the Downtown building he bought from the Insettas back to the family.
Coles had planned the Levels Nightclub at the 323-325 E. Bay St. structure, but stopped work on it. He declined comment Tuesday, but said he could share information later.
Insetta said Tuesday he doesn’t have immediate plans for the structure and might put it back on the market.
“We’ve always liked the building,” he said. “It’s in great condition. Bay Street is kind of coming into its own.”
Coles, through Past Trouble LLC, bought the building in October 2013 for $750,000 from 325 East Bay Street LLC, whose manager is Insetta Family Properties LLC.
Insetta Family Properties issued a $640,000 mortgage the day of the purchase to Past Trouble LLC.
The almost 16,000-square-foot building, of which about 10,500 square feet is heated, was developed in 1904. It was renovated in 1982.
Coles planned the nightclub among the building’s two floors and basement and sought approvals and permits.
The Downtown Development Review Board approved the design with conditions in February 2014. Work was suspended at the site by late 2014.
Past Trouble LLC granted the property back to Insetta Family Properties LLC on Nov. 18 for consideration of $634,724, which is the balance of the loan Insetta made to Coles.
“We wanted to give him an opportunity to succeed, but he felt it wasn’t in his best interest. It was his decision,” Insetta said. “He was really awesome about it.”
Insetta said he would review a complete schedule of work by Coles. “There’s a fair amount done,” he said.
Insetta is president of Black Sheep Restaurant Group Inc., which operates Restaurant Orsay near Avondale and Black Sheep Five Points and plans to open another Black Sheep Downtown at 100 N. Laura St.
He said he had some options for the name of the Downtown Black Sheep restaurant, but nothing certain yet. It should open in early summer.
The Orsay and the Five Points Black Sheep buildings are owned by Insetta family members.
Insetta formerly operated Chew restaurant at 117 W. Adams St. Downtown. It opened about 10 years ago and closed in January 2012.
He opened Orsay seven years ago and Black Sheep more than three years ago.
Insetta’s group bought the 323-325 E. Bay St. building in April 2008 for $1 million.
It had been vacant for at least five years and formerly was used for state offices.
Insetta said the family initially considered developing a bar in that building but changed its focus to restaurants.
It is valued for tax purposes at $589,500, according to the Duval County Property Appraiser’s Office.
“It’s a great opportunity for someone wanting to do something,” Insetta said, adding it could work for restaurant, bar or office space. It is zoned for commercial, residential and office use.
Several restaurants and nightclubs have come and gone along Bay Street.
The Insetta building is near the Olio restaurant, Mark’s, The Hourglass Pub and the Myth nightclub under renovation at the former Club TSI Discotheque. It’s not far from the Cowford Chophouse under renovation at Bay and Ocean streets and the Bay Street Bar & Grill.
Insetta said he had no plans right now for another Downtown restaurant.
“I always take one thing at a time,” he said.
Skinners designing commercial park at Baymeadows and I-295
An almost 10-acre commercial park is in design at Baymeadows Road East and Interstate 295.
Disston Ranch Ltd. LLLP, part of the Skinner family of landowners, filed plans with the city and the St. Johns River Water Management District for the Skinner Loop Road. The district issued a permit Nov. 23.
Plans show the road is a public road for commercial development and associated infrastructure.
The grading and drainage plan shows the road would connect from R.G. Skinner Parkway to Baymeadows Road East. It would provide access to seven parcels, ranging from .90 to 1.93 acres.
Disston Ranch’s partners are Bryant Skinner Jr. and Russell Skinner. Prosser Inc. is the civil engineer.
SunCap to start work on 500-acre industrial park
SunPort Industrial Park is preparing to launch its 500-acre Northwest Jacksonville development.
Master developer SunCap Property Group of North Carolina intends to start the industrial park with two pads totaling almost 44 acres.
Marketing Director Danelle Lane said SunPort is in for permitting so that SunCap Property Group can start construction on the infrastructure next year.
The project is at northwest Interstate 295 and Lem Turner Road. SunCap says 317.5 acres are zoned and entitled and ready for development.
Plans filed with the city show the two pads, comprising 21.5 and 22.4 acres, along an access road from Lem Turner Road.
Prosser Inc. is the civil engineer.
SunCap says on sucapppg.com that SunPort Industrial Park will be a 4.8 million-square-foot, 317-acre industrial park with build-to-suit and pad-ready sites available. It is zoned Industrial Light.
Colliers International Northeast Florida represents the park, which it says will be pad-ready by mid-December.
The property is marketed by Hobart Joost and Guy Preston at Colliers.
SunCap Southeast Industrial Joint Venture LLC took title to the property in June 2014.
Joost, senior vice president and principal at Colliers, said previously the property had had “four dry runs” the past four years under other ownership.
The property is less than 4 miles from I-95 and about 11 miles from 1-10. It’s less than 2 miles from Jacksonville International Airport.
It also is near railroads and not far from the Intermodal Container Transfer Facility under construction for completion this year.
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