Group buys building across from The Ford on Bay site

Klodian Ferra, owner of Live Bar, is manager of the ownership entity.

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A group of Downtown Jacksonville nightclub owners, operators and outside investors bought the two-story building at 327-345 E. Bay St. for $2.85 million.

Klodian Ferra, who owns Live Bar at 331 E. Bay St. inside the building, bought the property Jan. 27 through 327 E. Bay LLC from Liberty-Bay Inc., led by attorney Michael Basford. 

Ferra secured a mortgage from Liberty-Bay Inc. for $2.35 million. 

Ferra transferred ownership Feb. 11 to the group comprising Madison Ferra, his wife; Daniel Jiggetts, assistant manager of Live Bar; Nephiteria Ayana Andrews, an outside investor; and Jon Mroz, owner of Myth Nightclub and Element Bistro, Mroz said. 

Klodian Ferra is manager of the ownership entity.

The 38,835-square-foot building is across from the former Duval County Courthouse and City Hall site, the proposed The Ford on Bay retail and multifamily residential development. 

Basford said Jan. 31 he was working on details with Ferra, transferring tenant leases.

He said Ferra was exploring scenarios to develop the building, including the addition of three floors for residential use. 

Mroz said Feb. 12 the group has options to develop the building and are looking at the expansion of existing businesses and potential event space.

He said long-term development potential includes office space, residential and other opportunities.

“We will be working closely with our current and future tenants to renovate and improve the rentable space, giving Jacksonville residents and tourists more options for dining, retail and nightlife in the entertainment district of the Downtown,” he said.

Mroz said plans are in development to renovate the second floor and the group intends to seek incentives from the Downtown Investment Authority.

He said proposed development along Bay Street made it a good time to buy and the group wants to play a role in Downtown’s growth.