From The Daily Record
Preferred Growth Properties paid almost $46.95 million for 45 developable acres near St. Johns Town Center purchased from members of the Skinner family.
The deal sparks the launch of another major mixed-use project in the popular Southside area.
The property, located north of Butler Boulevard along Town Center Parkway, had been under contract for over a year and was rezoned prior to the sale.
PGP’s plans show it wants to develop a mix of commercial, hotel, office, retail stores and multifamily residential units.
The developer also plans to make $3 million to $4 million in traffic improvements at the intersection of Gate and Town Center parkways.
PGP has not announced tenants, but Oklahoma City-based Hobby Lobby has said it would open there.
Also, Houston-based Stanmore Partners said it was under contract to buy land for a 347-unit apartment community, called Ravella at Town Center Apartment Homes.
Downtown’s Intuition Ale Works and Manifest Distilling, now undergoing renovation, could soon be part of a much larger mixed-use complex.
Iconic Real Estate Investments, led by Jacksonville real estate investors Farley and Paul Grainger, paid $2.5 million for the George Doro Fixture Co. property.
Located near the Sports Complex, the parcel is next to Intuition Ale’s 929 E. Bay St. building, which the Graingers also own.
The 1.63-acre Doro property includes a parking lot and several warehouse buildings with a total of 62,000 square feet of space.
Farley Grainger said they envision a mix of food-related services, some office and possibly some residential development on the site.
BMW of North America LLC will invest more than $30 million to build a 450,000-square-foot regional distribution center in Westside Industrial Park, replacing a smaller 210,000-square-foot parts facility there.
“They are a highly prized company and this decision further enhances our auto distribution sector,” said Jerry Mallot, president of JAXUSA Partnership, the economic arm of the JAX Chamber.
BMW plans to occupy the site at 600 Imeson Road by April next year and it is expected to be fully operational in October 2017.
Pura Bean Holdings Inc., a 2014 One Spark creator, is opening a coffee shop at 14286 Beach Blvd. in a shopping center anchored by The Church of Eleven22.
Pura Bean’s 1,000-square-foot shop will roast and grind its coffees and sell them on-site by the bag or the cup. It will also sell pastries baked by staff.
The company already roasts and bags coffee at a Southside location at Powers Avenue and sells its products at several local outlets, including Winn-Dixie stores.
Pura Bean President Chris Diedrich last year left his full-time job as a mortgage broker to work for the company full time. He said he hopes to have five retail locations in five years.