Lake City-based Blackwater Development LLC announced in October 2023 that it is the prospective buyer of Regency Square Mall, the 56-year-old largely vacant shopping center facing code compliance issues for interior problems such as water damage and exposed wiring.
Blackwater Development President Rurmell McGee said his group was in the initial phase of due diligence “to conduct a thorough assessment of the property and determine the project’s feasibility.” He expected the sale could close in the third quarter of 2024.
Impact Church, the Dillard’s Clearance Center and the former Sears have separate owners and are not part of the Blackwater deal.
The center, at 9501 Arlington Expressway, was the area’s first large regional mall. It has struggled as population shifted from Arlington and as national, regional and local retailers left or closed.
The mall owners said Oct. 2 they had finalized a contract to sell the shopping center that they bought in 2014.
Regency Realty LLC, a partnership of Mason Asset Management and Namdar Realty Group LLC, both based in Great Neck, New York, paid $13 million for the bulk of the 1.4 million-square-foot mall Feb. 14, 2014.
They sold the AMC Theatres property to a Kansas City investment group and the former Belk department store to Impact Church of Jacksonville Inc.
Property records show Regency Mall Realty LLC owns almost 74 acres and about 980,200 square feet of retail space in the mall.
Here is a look at some of the biggest deals and people who made headlines in 2023.
Top Deals:
Cosentino Group plans $270 million first phase of manufacturing plant. Story here
Phoenix Arts & Innovation District launches in New Springfield. Story here
Ponte Vedra Inn & Club wins approval to start expansion, renovations. Story here
ICE finalizes its $11.9 billion acquisition of Black Knight Inc. Story here
‘Stadium of the Future’ plans are unveiled by the Jaguars. Story here
Gateway Jax plans $500 million Downtown project in NorthCore. Story here
Aldi buying Winn-Dixie, Harveys parent Southeastern Grocers. Story here
Regency Centers buys Urstadt Biddle in $1.4 billion deal. Story here
Top Newsmakers:
Donna Deegan makes history as Jacksonville’s first female mayor. Story here
Bryan Moll poised to help revitalize Downtown with Gateway Jax. Story here
Nick Allard guides JU College of Law toward new Downtown campus. Story here
Aundra Wallace an assured but low-key leader in region’s growth. Story here
Suzanne Pickett: Advocate for city’s Historic Eastside. Story here
Obituaries of 2023:
Activist and community advocate Ben Frazier. Story here
Beaver Street Fisheries Chairman Hans ‘Harry’ Frisch. Story here
Civic leader and insurance executive Marvin Cecil 'Ceree' Harden III. Story here