From the Daily Record
East San Marco, a $60 million mixed-use project anchored by Publix, could be under development in 2016.
The site is in historic San Marco at Hendricks Avenue and Atlantic Boulevard, not far from the Southbank.
Whitehall Realty Partners LLC has the center under contract as a co-developer, managing member John Carey said. Problems with financing delayed a deal last year.
Whitehall expects to break ground in early 2016, with retail and some apartments coming online in 15 to 18 months.
City ordinances allow development of 280 apartments, up to 63,000 square feet of commercial space, including the Publix, the existing Wells Fargo bank branch and additional commercial space.
Flagler sells Tradeport property for $37.2M
Flagler Development sold eight buildings at Jacksonville International Tradeport to a California investment group for $37.15 million.
The Tradeport is a warehouse-distribution business park off Airport Road and Interstate 95 near Jacksonville International Airport. The eight buildings total more than 903,000 square feet and encompass 64.7 acres.
The properties were sold to Catellus Development Corp., a TPG Real Estate company based in Oakland, Calif. A sister company, Evergreen Industrial Properties, provided a statement that it is actively seeking to grow its portfolio in select markets throughout the U.S. and named Jacksonville a high priority.
Industrial park to open in Northwest Jacksonville
The SunPort Industrial Park, a 317-acre business park in Northwest Jacksonville, is gearing up for development.
The project would open up property for jobs and growth in an area long targeted by city economic leaders.
The St. Johns River Water Management District is reviewing an application submitted in May for the 70-acre first phase of the project.
Company marketing materials state the site will be “pad ready” by mid-December, meaning it would be ready for sale or a build-to-suit for a tenant that would lease the structure.
The park is located at Lem Turner Road off of the Interstate 295 West Beltway. It is a master development by SunCap Property Group of North Carolina.
Sleiman Enterprises buys Point Meadows center
Jacksonville-based Sleiman Enterprises paid $20.85 million for the Point Meadows shopping center in Baymeadows.
Konover South LLC, a Deerfield Beach-based real estate investment company that sold the Stein Mart-anchored property, said the center was 93 percent leased.
Tenants include Bank of America, Carrabba’s Italian Grill, Outback Steakhouse, Pottery Works, Walgreens and Wendy’s.
Bundy Baking Solutions proposes Westside plant
Bundy Baking Solutions, an Urbana, Ohio-based provider of industrial and commercial baking pans and coatings, may build a 25,000-square-foot plant on vacant industrial land it owns in West Jacksonville.
It would move from a smaller Westside location, where its Pan Glo business leases space.
The company has submitted site plans for the project.
The site is at Pickettville Road and Commonwealth Avenue, west of the Interstate 295 West Beltway.
Regency theater sold for $26.2 million
The Regency Square Mall’s AMC 24 theater sold to a Kansas City investment group for $26.2 million.
The price is triple the value of the property and double what the sellers paid for the entire mall last year. No one involved with the sale of the recently renovated theater would comment on the transaction.
A signed deed shows the theater was sold to 30 West Pershing LLC. The 30 West Pershing group is part of EPR Properties of Kansas City, Mo., a real estate investment trust that owns 135 megaplex theaters in at least 34 states.
In February 2014, Mason Asset Management and Namdar Realty Group LLC bought Regency Square Mall and the theater property for $13 million. The theater was recently renovated, with construction costs estimated at $2.93 million.
Duval County property records show the assessed value of the theater property and its parking lot total almost $8.5 million.