Gateway Jax bought nine properties July 2 totaling 1.8 acres in Downtown Jacksonville for a combined $7.5 million.
Jim and Ellen Wiss of Atlantic Beach sold the properties they bought in 2020-21.
They sold eight through EJPC LLC for $5.475 million and one through AWP331 LLC for $2.025 million. Both LLCs are based in Kansas City, Missouri, where the Wisses have a development company.
The buyer was North Core 904 LLC, which took out two mortgages totaling $8.64 million from DLP Lending Fund LLC of Bethlehem, Pennsylvania.
DLP is an investor in the Gateway Jax development Downtown and has been financing its property purchases.
Gateway Jax, the developer of a multiblock Downtown residential and retail project, is led by CEO Bryan Moll, DLP Capital and JWB Real Estate Capital.
They expect to invest $2 billion on the combined 32-acre project that surrounds the area where the Wisses owned property.
Through EJPC LLC, the Wisses sold:
• Three adjoining parking lots totaling 0.51 acre at West Beaver Street and North Hogan Street, south of the parking garage at 712 Hogan St. owned by Gateway.
• A former First Baptist Church office building at 604 N. Hogan St. The 15,987-square-foot structure on 0.12 acre was built in 1947.
• A former First Baptist Church office building at 211 W. Ashley St. The 21,888-square-foot structure on 0.14 acre was built 1954.
• A 0.16-acre parking lot at 124 W. Ashley St.
• A 0.11-acre vacant lot at 225 W. Ashley St.
• A 0.28-acre parking lot at 241 W. Ashley St.
Through AWP331 LLC, the Wisses sold a 0.48-acre parking lot at 331 W. Ashley St.
In total, the Wisses paid $1.95 million for the nine properties in 2020-21.
Moll: Properties key
Moll said July 8 that the properties, now called Block N10, are an important part to the overall plan.
The block is near Block N7 where a grocery store will be built. Moll would not disclose which grocer will be in that space.
“Getting from the grocery all the way over to Pearl Square was really important to us, because we think making that connection and making it a great experience for the pedestrian and bicyclists improves the value of everything we’re doing,” Moll said.
“In some ways it’s the missing tooth in the smile. So strategically, we thought, it’s really important to control (those properties) so we can make it a better experience.”
Deal years in making
The deal has been three years in the making, Moll said.
Moll’s college friend worked with the Wisses’ son-in-law and suggested that Moll meet with the couple. It was one of the first discussions Moll had after moving to Jacksonville.
“We met over coffee at Southern Grounds. That was about three years ago now. And so I’ve known them really since the beginning. They’ve been active in Downtown. It was just a conversation that ended up leading to opportunity,” Moll said.
Jim Wiss is the president and founder of Kansas City-based Homkor Companies and Ellen Wiss is vice president of Homkor Companies and president of Homkor of Florida Inc.
In 2022, they had plans to invest $55 million to build apartments, retail and office space at the former church properties.
At one time, the couple owned the Federal Reserve Bank Building at 424 N. Hogan St. They sold it in August 2020 for $1.75 million to JWB Real Estate Capital.
It is now under renovation for a private club called The June Social Club to be opened by Britt Morgan-Saks of New York City.