Iconic Real Estate Investments buys Doro property Downtown

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Intuition Ale Works and Manifest Distilling in Downtown Jacksonville could soon be part of a much larger mixed-use complex now that its landlord bought the George Doro Fixture Co. property next door.

A group led by Jacksonville real estate investors Farley and Paul Grainger bought the Doro property along A. Philip Randolph Boulevard and East Adams Street on Wednesday for $2.5 million with plans to develop the site with complementary uses.

Farley Grainger said they envision a mixed-use of food-related services, some office and possibly some residential development on the combined site, near the Sports Complex.

Paul Grainger, Farley’s son, said the focus will be leasing to local tenants who will be catalysts to redevelop the area.

“We are lifelong Jacksonville residents and we are trying to do our part to create something special in that area,” said Farley Grainger.

The property is next to the Intuition Ale Works and Manifest Distilling building the Graingers own at 929 E. Bay St.

That structure, the 36,170-square-foot former Noland Building, was purchased for $2.2 million in early 2015. It was vacant and is under redevelopment for Intuition and Manifest. About 6,000 square feet of space remains available for lease.

Paul Grainger said Jacksonville-based Intuition Ale Works should open about September. He did not have an opening date for Manifest Distilling.

The Graingers bought the 1.63-acre Doro property through 102 A. Philip Randolph LLC. Farley Grainger is president and Paul Grainger is vice president of Iconic Real Estate Investments.

The group bought the property from members of the Doro family. The company, in business since 1919, fabricates architectural woodwork, casework and millwork. Four calls to telephone extensions at the company were not returned Thursday afternoon.

The Doro property includes almost 62,000 square feet of warehouse space among several buildings along with a parking lot.

Property records show the seven structures were built from 1914 to 1954. The Graingers said they would reuse as many of those buildings as possible for redevelopment.

“We have control of them now, but we’re going to take our time to plan it,” Farley Grainger said.

He said he did not know the Doro family’s plans for the fixture business.

Grainger said it would be several months before Iconic Real Estate was prepared to talk about plans for the property. There is no timeframe for development or an investment estimate on the eventual project.

The combined properties will be branded with an overall name, which the Graingers have not chosen.

They also want to transform a privately owned right-of-way between the 929 E. Bay St. and Doro properties into a walkable space to connect the developments.

“The plan is to brand them together,” Paul Grainger said.

Together, the East Bay Street and Doro properties total about 100,000 square feet of space on about 3 acres.

Farley Grainger said they looked forward to being part of Downtown “in a bigger way than we already are.”

“It means more activity Downtown and it means the opportunity to continue the connections” between the Sports Complex and entertainment venues Downtown along Bay Street, he said.

The project will require Downtown Development Review Board and permitting approvals.

“We will take our time and continue on with our plans before going forward with what we are going to do,” he said.

Asked if any more projects are in development, Paul Grainger said “this should keep us busy for the time being.”

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