From the Daily Record
Vulcan Materials Co., which occupies a 50-year-old Springfield office complex, will relocate to Southside because it needs less space.
The Alabama-based construction materials company leases about 75,000 square feet of office space at 155-57 E. 21st St., but needs a fraction of that.
As a result, it is moving to about 10,000 square feet of office space in Deerwood South at 10151 Deerwood Park Blvd.
Vulcan Materials expects to move its 38 Jacksonville employees to the new location by the end of the year, although the timeline is still being determined.
Matt Arbuckle, who leads Florida real estate and business development for Vulcan Materials, said the Deerwood South site was chosen based on its proximity to where many of the company’s employees live.
Vulcan Materials leases the Springfield location from FRP Holdings Inc.
Property records show two office buildings — a six-story and two-story building — that total more than 70,000 square feet of space.
Town Center Exchange to bring new retail, housing
By late 2016 or early 2017 an undeveloped lakefront site west of St. Johns Town Center Parkway could hold a grocery store, restaurants, financial offices, retailers, a 150-key hotel and about 350 apartments.
Core Property Capital, which has offices in Atlanta and Naples, is expected to buy the 63.3 acres by the end of the year from members of the Skinner family of landowners.
Called Town Center Exchange, almost 28 acres will be developed. In addition to apartments and a hotel, the project will include up to 200,000 square feet of enclosed retail and commercial uses, up to 100,000 square feet of office space.
NorthPort Logistics Center sold for $33 million
Real Capital Solutions, a Colorado investment group, has paid $33 million to buy the NorthPort Logistics Center.
The almost 873,000-square-foot mega-warehouse on 76.8 acres at 11530 New Berlin Road, was developed in 2009. Located 2.5 miles from the JaxPort Blount Island Marine Terminal, it is the largest contiguous warehouse/distribution space in Jacksonville, according to the seller, Atlanta-based Oakmont Industrial Group.
Real Capital Solutions specializes in real estate workouts, which is the planning, renovation and lease-up or sell-out of economically distressed properties.
Gate Petroleum may buy Brooklyn site in next several months
A site in Brooklyn best known for housing the popular Two Doors Down restaurant is expected to sell to Jacksonville-based Gate Petroleum Co. within four or five months.
Property owner trustee Chris Ware and a Gate spokesman confirmed the company has negotiated a contract on the property.
Should the purchase go through, it gives Gate access to Brooklyn, Riverside and Downtown. Its nearest convenience store now is along Stockton Street about a mile away.
Gate operates and supplies fuel for almost 200 locations in Florida, Georgia and the Carolinas.
Norm Abraham, a partner in Two Doors Down, announced he would close the restaurant Nov. 25, the day before Thanksgiving. Abraham learned this summer his lease would end Dec. 29.
Gresham, Smith and Partners moving Downtown
Architecture, planning and design firm Gresham, Smith and Partners will move from Belfort Road to the top floor of One Enterprise Center Downtown by year-end.
The company signed a 10-year lease for about 10,700 square feet of space. The relocation will bring nearly 40 licensed architects and interior designers to the urban core.
Office managing principal Trevor Lee said it was important for the firm to be a part of downtown Jacksonville renewal. The company has leased space in the suburbs for 17 years.
Timoti’s Seafood Shak plans Five Points location
Timoti’s Seafood Shak will open a second restaurant in Five Points, branching out from its original Fernandina Beach location.
A pending building-permit shows a $275,000 build-out for Timoti’s next to Rain Dogs.
The fast-casual restaurant, owned by Theresa and Timothy Poynter, serves only wild caught seafood.
Its menu includes shrimp, oyster, clam strips, mahi and local catch baskets, as well as chicken strips, tofu tacos, wraps, burgers and po’boys.
Velocity Air Sports indoor trampoline park coming to Southside
An indoor trampoline park called Velocity Air Sports plans to bring a 40,000-square-foot entertainment center to the southeast corner of Interstate 95 and Butler Boulevard.
The park will include a large trampoline field, a trampoline dodge ball stadium, “AirSlam” basketball, a flying trapeze, foam pits, a large inflatable playground, high-wire slack lines, an arcade and “and the largest Ninja Warrior Obstacle Course in the state.”
Velocity Air Sports’ first location opened this summer in North Charleston, S.C. The company is based in West Columbia.