Community First Credit Union announced Dec. 29 it bought a 1.22-acre outparcel at Boulevard Crossing, the redevelopment project on the parking lot of the former Kmart at 5689 Beach Blvd.
Community First said it paid $1.1 million for the land.
Jacksonville-based Community First said it will build a 2,500-square-foot branch and drive-thru. Construction will start in mid-2022. It estimates completion in the second half of 2022.
It will become Community First’s 20th branch office, situated between its Lakewood and Arlington branches. It said those are two of its highest volume locations.
It will be Community First’s first new branch since it built a free-standing expansion location in Oakleaf, which opened in 2018.
Christian Harden, NAI Hallmark managing partner, represented Community First in the transaction.
“Boulevard Crossing is an excellent in-fill development and we’re proud to bring the credit union’s services to this area,” said John Hirabayashi, Community First CEO and president.
The 8-acre Boulevard Crossing retail redevelopment is a partnership between Hallmark Partners and NAI Hallmark and includes the outparcel sites fronting the former Kmart building.
Boulevard Crossing has been under redevelopment since 2019 and includes a new free-standing Starbucks with a drive-thru and a prototype McDonald’s with two drive-thru lanes.
McDonald’s has been at the site, in another location, for more than 40 years. Starbucks moved from a smaller in-line location across the street.
Boulevard Crossing is near Memorial Hospital and the Brooks Rehabilitation Center campus and its new Helen’s House.
The Community First branch is part of the credit union’s branch transformation project, which the release said is the credit union’s comprehensive branch upgrade.
The project “seeks to improve member service by configuring the offices to create a more modern retail experience.”
The new branch interiors feature upgrades including an open floor plan and advanced self-service technologies.
Community First Credit Union of Florida is a state-chartered credit union serving anyone who lives or works on the First Coast. It is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses.
Community First said it is one of the largest credit unions in the state, serving more than 155,000 members with assets of $2.4 billion.