After the University of Florida announced plans to build a graduate campus in LaVilla, the city turned its attention to assembling property for the project in 2025.
In June, the city conveyed five properties to UF, including one the city aims to acquire through an exchange of city-owned property at the former Jacksonville Landing, now called Riverfront Plaza.
The city proposed to swap the Riverfront Plaza development pad for the former Interline Brands Inc. building at 801 W. Bay St. The owner of that building, the Gateway Jax development partnership, agreed to build a 17-story mixed-use tower on the Riverfront Plaza site as part of the exchange.
In November, Council approved the final land transaction via an exchange of city-owned property at 200 N. Lee St. to multifamily developer Vestcor Inc. for a 2.04-acre lot on West Bay Street near the Prime F. Osborn III Convention Center. Apex Business Forms previously operated on the Lee Street property under a ground lease with the city.
As part of its agreement with UF, the city committed to providing land for the campus. In all, the city is providing UF with six properties totaling 25.28 acres and valued at $30.22 million to $31.62 million.
Kurt Dudas, vice president of strategic initiatives for UF, said Dec. 19 that all six property transactions for involved in the project had closed.
A Downtown property where Jacksonville residents went to see images of Van Gogh paintings and Egyptian relics would become a place to grab a Pub Sub or a week’s worth of groceries under a deal announced in September.
Confirming a long-running rumor, Publix said it had partnered with Gateway Jax to build a full-service grocery store in Gateway’s Block N7 mixed-use development at 119 W. Beaver St.
The property is the former main auditorium of First Baptist Church. The Gateway partnership plans to raze it and replace it with a 15-story residential tower with about 250 apartments and integrated parking with 400 spaces.
Publix plans a 31,000-square-foot store that will include a pharmacy and other full-service Publix departments.
Gateway comprises principal Bryan Moll, JWB Real Estate Capital and DLP Capital.
On Dec. 17, the nine-member Downtown Investment Authority board voted unanimously to recommend approval of a $49.66 million incentive package for the development. With Jacksonville City Council approval, Gateway Jax would receive a 75%, 17-year Recapture Enhanced Value Grant of up to $21.41 million and a $28.25 million completion grant for the tower.
The Publix would be the fourth grocery store open or planned in the eight districts that make up Downtown. The others are Fresh Market at 150 Riverside Ave. in Brooklyn, a Whole Foods Market nearing completion at 1 Riverside Ave. in the One Riverside development in Brooklyn, and Germany-based grocer Aldi Inc.’s in-progress conversion of the former Harveys Supermarket at 777 N. Market St. to its brand.
Two Northeast Florida malls sold in 2025 –one that was shut down and crumbling and one that was celebrating its golden anniversary.
Blackwater Development LLC purchased most of the Regency Square Mall property for $19.1 million April 9 from limited liability companies tied to Mason Asset Management and Namdar Realty Group.
At 9501 Arlington Expressway, the mall opened March 2, 1967.
Blackwater Development founder Rurmell McGee said in October the property had previously been under contract with Rimrock Development, where he worked at the time, but the former mall owners were not cooperative.
McGee was born in Wisconsin but relocated to Lake City at age 14.
Impact Church, Dillard’s Clearance Center and the former Sears store at the mall property are separately owned and were not involved in the sale. The church and Dillard’s continue to operate.
Revitalization work has started on the first phase, according McGee. Called The Nexus at Regency, it will cover the front 11 acres along Atlantic Boulevard and Monument Road.
The Orange Park Mall sold for $60.5 million in August.
Boca Raton-based Second Horizon Capital bought the 950,000-square-foot center at 1910 Wells Road from Washington Prime Group.
Second Horizon said it plans investments in the mall, including upgrades to common areas, safety, infrastructure and community programs.
The mall, which is celebrating its 50th anniversary, opened Sept. 24, 1975.
In October, Second Horizon instituted a policy requiring mall visitors under 18 to be accompanied by guardians 21 or older.
“Through intentional investments in the center’s shopper experience, elevating our operations, and deepening connections with our local community, we are excited to support Orange Park Mall in continuing its 50-year legacy as a dynamic, welcoming hub for residents, visitors, and tenants,” Second Horizon Capital Partner Howard Levine said in October.
Rayonier Inc., a nearly century-old company that has been based in the Jacksonville area for 25 years, announced a merger that will result in a new name and a new headquarters city.
The timber and real estate company announced an agreement Oct. 14 to merge with Spokane, Washington-based PotlatchDeltic Corp. in an exchange of stock that values the combined company at $7.1 billion.
Rayonier shareholders will end up owning 54% of the merged company and Rayonier CEO Mark McHugh will be its chief executive, but the company will move its headquarters to Atlanta and have a new name, which has not been announced.
Rayonier is headquartered in Wildlight, its master-planned community in Nassau County.
Rayonier and PotlatchDeltic said the merged company will retain significant operations in Wildlight and Spokane.
Rayonier has been mainly a timber and real estate development company since spinning off its cellulose specialty products manufacturing business into a separate Jacksonville-based company called Rayonier Advanced Materials Inc. in 2014.
The addition of PotlatchDeltic’s operations brings Rayonier back to the wood products manufacturing business.
However, timber will be the biggest business of the merged company, producing a projected 59% of its earnings before interest, taxes, depreciation and amortization.
Rayonier said in a Securities and Exchange Commission filing that the merged company would have produced sales of $1.224 billion and net income of $80.1 million in the first nine months of 2025.
The companies expect to complete the merger late in the first quarter or early in the second quarter of 2026.