N.Y. investor buys San Pablo shopping center

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A New York-based investor bought the Medical & Merchants Center at Beach Boulevard and San Pablo Road in Southside for $25.7 million.

Blueberry Commons LLC, in care of The Josephs Group of Orangeburg, N.Y., bought the center Tuesday from Jacksonville property owner Rockford M&M Property LLC.

TD Bank issued a mortgage and security agreement to Blueberry Commons for $18 million.

Rockford formerly was known as Carriere RE Holdings II LLC. Carriere bought the center in 2013 for $12 million, according to property records.

The property is assessed at $14 million for tax purposes.

The 23-acre site comprises a shopping center anchored by Publix Super Markets Inc. as well as a Fifth Third Bank branch, Planet Fitness and Shrimp Shack.

Records show the property comprises an almost 156,000-square foot shopping center, built in 1993, along with the 3,392-square-foot bank branch constructed in 1995 and the 2,082-square-foot structure built in 1997.

Publix intends to renovate its store there. The city is reviewing a permit for Elkins Construction LLC to remodel the 62,000-square-foot supermarket at a project cost of $750,000.

Rockford Property Holdings LLC, the managing member of Rockford M&M Property LLC, is led by Dr. William Carriere, a family physician who leads Family Care Partners. The practice has multiple area locations.

The seller was represented by the Colliers International Northeast Florida Investment Services Group team of Scott Rogers and Ernie Saltmarsh IV, assisted by Ronald McVay.

The seller also was advised by Bruce Buie of Buie Realty and Fred Pollitt of Available Real Estate Co.


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