From the Daily Record
Gatlin Development Co. Inc. bought property in December at Collins Road and Interstate 295 and immediately sold it to Wal-Mart Stores East L.P. and Gate Petroleum Co.
Walmart intends to open the store in spring 2016 and create 300 jobs.
The new $7.8 million Walmart Supercenter will be a 194,574-square-foot store, according to plans filed with the city. Walmart already has 15 area Supercenters in the area.
Jacksonville-based Gate intends to build a 5,800-square-foot gas and convenience store with 20 fueling positions and a soft-cloth automatic car wash.
Brooklyn Station on Riverside, the shopping center that features The Fresh Market and Corner Bakery Cafe, will add a fourth building by spring.
The shell structure could be ready for tenant build-out in April.
The new $687,660 structure will house Burrito Gallery, Zoës Kitchen, the Hyppo Gourmet Ice Pops and two tenants yet to be identified, according to a site plan by developer Regency Centers Corp.
The first three buildings are occupied by or will house The Fresh Market, Marilyn Monroe Nail Lounge, Lucy’s Gift Boutique, Hair Cuttery, Navy Federal Credit Union, Corner Bakery Café and BurgerFi.
Brooklyn Station on Riverside serves two apartment communities under development: 220 Riverside and Brooklyn Riverside.
CSX Corp. bought the 550 Water Street Building in December for $30 million, property it has leased since 2011.
This investment is a reflection of CSX’s long-term commitment to Jacksonville, CSX spokeswoman Kristin Seay said in a statement.
The acquisition comes in light of news in November that CSX wants to cut 300 jobs, mostly in its Jacksonville headquarters, by offering voluntary buyouts to some employees.
Seay said CSX’s purchase of the 550 building, where about 1,000 railroad employees work, will reduce operating costs and secures the company’s long-term control of a strategic asset.
The sale reflects investor interest in Downtown buildings. The 550 Water Street building acquisition comes after five other Northbank and Southbank towers were sold the past year, showing that buyers had funds and sellers had the right pricing.
“Secondary markets like Jacksonville are seeing a lot more investor activity and they are seeing these buildings being offered at reasonable prices,” said Oliver Barakat, senior vice president of the CBRE Inc.
JEA is soliciting bids to build a substation at Cecil Commerce Center North, another step toward developing a targeted portion of the former naval air station for major economic development.
The overall budget for the substation and an interconnect is $12.5 million. The two will provide a more reliable source of energy at Cecil Commerce Center and the AllianceFlorida business park under development by Texas-based Hillwood Investment Properties.
“It’s huge,” said state Rep. Lake Ray, a Republican representing District 12 and president of the First Coast Manufacturers Association.
“Most of the manufacturing operations have a very high power demand, so I think it’s clearly … the right direction we need to go,” Ray added.
Cecil Commerce Center’s newest tenant is GE Oil & Gas, which is establishing a 500-job manufacturing plant.
Chestnut Hill Investments partners J.J. Conners and J.T. Thornton said they are considering development of a $30 million office complex at Gate Parkway.
The group expects to buy about 15.5 acres at southwest Gate Parkway South and Burnt Mill Road in the first quarter of 2015. Citing a strong Gate Parkway office market, they said they could develop two three-story, 90,000-square-foot buildings. Or they could hold the land for later development or sell it, they said.
The proposed Walmart Neighborhood Market at the Village Shoppes at San Pablo is expected to open in July.
The Neighborhood Markets average 38,000 square feet, about a quarter of the size of the average Walmart Supercenter.
The Neighborhood Markets offer fresh produce, a full grocery department with a bakery and deli, a pharmacy with, health and beauty supplies and select household items.
They also offer “Site to Store” service, which makes merchandise on Walmart.com available for purchase and delivered for free to the store.
Five other Neighborhood Markets have opened in the Jacksonville area, the first three, in June 2013.
Scott Schwartz, chef and owner of the 29 South Restaurant in Fernandina Beach, said he has signed a 10-year least to open a full-service restaurant and bar, “The Bullbriar,” at the old Florida National Bank building Downtown.
The menu will feature upscale Southern-style food, with many ingredients obtained locally.
Mission BBQ, a Maryland-based company formed a decade to the day after 9/11, is expanding into Florida, including restaurants in Jacksonville and Orange Park.
In Jacksonville it will open at the 1.4-acre site of a former Bennigan’s in Southwest Jacksonville, but the Orange Park address is unknown.
The company supports military, veteran and first-responder organizations.