A Boston-based real estate investment, development and management firm recently bought three undeveloped parcels totaling 40.25 acres in north St. Augustine for $6.5 million.
The Davis Cos., through DIV WDG JAX Owner LLC, finalized the purchase July 29 of the vacant property from Atlantic Beach-based SJC Acquisition LLC, which has ties to American Management Group of North Florida LLC, a multifamily real estate developer.
According to the St. Johns County Property Appraiser, the property is zoned Planned Unit Development and is classified for “Clubs, Lodges or Union Halls” uses. A PUD allows uses, regulations and standards tailored to a property.
Surrounded by health, technology and science-focused operations, the property is bordered by the St. Johns County Wind Mitigation Building, the St. Johns County Sheriff’s Office South Regional Operations Center, the Disease Vector Education Center, a free public science museum focused on mosquitoes and the illnesses they spread, and St. Johns County Emergency Management.
It is about a mile south of Florida 16, near St. Augustine Premium Outlets and west of Interstate 95.
According to the company website, the Davis Cos. has experience developing residential, industrial and commercial projects, as well as science and technology initiatives, including The Quad science campus, the Charles River Plaza medical research facility and a LEED Gold-certified life science and laboratory building, all in the Boston area.
The company, which property records show has no other St. Johns County real estate holdings, has no ties to Jacksonville-based The Davis Family, founders of Winn-Dixie.
While specific project details for this site are unknown, the Davis Cos. website says the company has developed 6.5 million square feet of space for science-related uses across five states.
“Since making our first life science property investment in 1994, Davis has developed deep relationships within Greater Boston’s life science and medical industries and allied ourselves with industry experts and thought leaders, in order to further our knowledge of life sciences development and management issues, as well as emerging industry trends,” the website says.