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Starbucks, Aspen Dental to Regency
JACKSONVILLE
They’re planned for the closed TGI Fridays restaurant in the Regency Park Shopping Center.
JACKSONVILLE
Record & Observer BY KAREN BRUNE MATHIS EDITOR
JACKSONVILLE
The closed TGI Fridays building in Regency is in review for conversion into an Aspen Dental office, retail space and a Starbucks Coffee shop. TGI Fridays closed more than a year ago at 9400 Atlantic Blvd. in the Regency Park Shopping Center. The St. Johns River Water Management District is reviewing plans to refurbish the almost 8,000-square-foot building, developed in 1988, as well as utility extensions, dumpster construction and parking lot improvement. A conceptual site plan shows a 3,814-square-foot Aspen Dental office on one end and a 2,605-square-foot Starbucks and drive-thru on the other, with 952 square feet of retail space in between. It is a 1.06-acre site. CPH is the civil engineer. Duval County property records show Brixmor IA Regency Park SC LLC is the owner.
Record & Observer Special to the Daily Record
Hazlnut co-founders Steven Edwards and Dick Sikes started the company in 2017. It’s part of PS27 Ventures and works with Larry’s Giant Subs.
Jacksonville-based website and app developer Hazlnut sees business surge 20% in March as dining rooms shut down and restaurants turn to to-go orders.
BY KATIE GARWOOD STAFF WRITER
A
s state and local governments began shutting down restaurant dining rooms across the country, establishments were left scrambling to set up takeout and online ordering for their customers. Hazlnut, a Jacksonville-based company that builds web-based ordering sites and mobile apps for restaurants, said the company’s overall sales increased 20% in March alone. “The phone has been ringing off the hook,” said Hazlnut co-founder and CEO Dick Sikes. “So it’s been pretty nonstop. It’s a lot of people who didn’t have something in place already.” Sikes said many smaller restaurants want to
offer online ordering like Starbucks or Chipotle, but can’t afford to hire developers to do so. Hazlnut creates an app or website for them and adds the restaurants’ branding and logos. The inquiries began coming from states where restaurants had been reduced to takeout and delivery only, and now Sikes said he is seeing them from all over. Hazlnut works with a point-of-sale platform called Clover Connect. Clients who use Clover have been finding Hazlnut through its app store and through word-of-mouth from Clover salespeople. Sikes and co-founder Steven Edwards started Hazlnut in late 2017 after scrapping an idea to
KMATHIS@ JAXDAILYRECORD.COM @MATHISKB (904) 356-2466
MATHIS REPORT Permits issued to transform the Roosevelt Square shopping center into Ortega Park. Page 3
SEE HAZLNUT, PAGE 5
FROM THE PUBLISHER
Time to shift the focus to reopening the economy Keep COVID-19 pandemic in perspective. PAGE 6 VOLUME 2, NO. 46 • ONE SECTION
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JACKSONVILLE 16, 2020 DAILY RECORD / JACKSONVILLE RECORD & OBSERVER THURSDAY, APRIL
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THURSDAY, APRIL 16, 2020
3
Permits issued for Roosevelt Square transformation
KAREN BRUNE MATHIS EDITOR
City issues permits for construction of a new building and a facade renovation. Roosevelt Square continues its conversion into Ortega Park in West Jacksonville near Ortega. The city issued construction permits April 9 for a new building and the facade renovation of another at the 4495 Roosevelt Blvd. shopping center. RLH Construction LLC of Oviedo will build the 11,667-square-foot multitenant Building G next to Chickfil-A at a cost of $1.75 million and renovate the facade of the 10,000-square-foot Building F, whose tenants include Metro Diner and Chase Bank, at a cost of $424,150. David S. Ware of Atlanta is the architect. Atlanta-based Dewberry Group owns Roosevelt Square and is redeveloping the 59-year-old property. On March 24, engineer Mark Dowst & Associates Inc. filed construction and updated civil site plans with the city.
File image
An artist’s rendering of the Ortega Alley retail shops at the rebranded Roosevelt Square.
Plans show Roosevelt Square comprises 311,220 square feet. Dewberry is removing 100,536 square feet of space, including retail space to the south of Publix, and building 53,275 square to create a floor area of 263,959 square feet. A year ago, Dewberry Group filed plans with the city to demolish and rebuild space at Roosevelt Square. The new construction primarily involves buildings next to the Publix supermarket and at the southwestern end in front of the Metro Diner-anchored building. Dewberry demolished the closed Belk store in 2018. Other new construction is shown around the almost 29-acre site. The city is reviewing building permits for the project. Dewberry Group intends to rebrand the shopping center as Ortega Park, add apartments and develop the Ortega Alley retail shops. Dewberry bought the property in 1997 and renovated it in 1999 and 2003. Ortega Park is the third redevelopment. Dewberrygroup.com says
Ortega Park will grow to nearly 700,000 square feet and include shopping, dining and Class A multifamily units. Dewberry Group has not commented about the project, but it appears to be an investment of at least $70 million.
Dollar General keeps expanding Dollar General, already in expansion mode, is adding locations in Murray Hill and in St. Johns and Nassau counties. For Murray Hill, the city issued permits for Dollar General to build a 7,500-squarefoot store at 3005 Post St. Concept Construction of North Florida Inc. is the contractor for the $315,000 project on an acre. The St. Johns and Nassau projects do not specify Dollar General, but the developer is Concept, which builds Dollar General stores. St. Johns County is reviewing a permit application for Concept Development Inc. to develop a 9,100-square-foot commercial retail store on
Starbucks to Atlantic North: JEA issued a service availability letter for Starbucks to build a coffee shop at 11901 Atlantic Blvd. in the Atlantic North shopping center. The site is Outparcel A at Atlantic Boulevard and Marketplace Drive, fronting Atlantic Boulevard in front of Belk. Scrubbles to Atlantic North: JEA issued a service availability letter for Scrubbles Express Wash to build a car wash, parking lot and infrastructure at 11991 Atlantic Blvd. in Atlantic North, at northwest Kernan and Atlantic boulevards. Daily’s Downtown: JEA issued a service availability letter for First Coast Energy to build a Daily’s gas station and convenience store at 60 N. Broad St. Downtown. The March 25 service availability request identifies the 1.4-acre block bounded by Bay, Broad, Forsyth and Jefferson streets. A former bank drive-thru built in 1976 and a three-story building at 618 W. Forsyth St. built in 1914 are on the site.
2.52 acres at Florida 207, west of Vermont Boulevard in the Elkton area. In Nassau County, JEA issued a service availabity letter to Concept Companies to develop a 9,100-square-foot commer-
Wawa to Baymeadows: David C Hammers sold 3.78 acres at southeast Baymeadows Road and Baymeadows Way to Brightwork Real Estate Inc. of Tampa for development of a Wawa gas station and convenience store. Brightwork, through BW Baymeadows Way LLC, paid $775,000 for the site March 31. Valley National Bank of Clearwater issued a $3.06 million mortgage the same day. Previously filed plans show a 6,119-square-foot gas station and convenience store.
THE MATHIS REPORT
DEVELOPMENT NOTES
Truist Bank to St. Johns County: Truist Bank bought property at 215 Pine Lake Drive in Nocatee in St. Johns County for an office. Truist, based in Winston-Salem, North Carolina, paid $1.55 million for 0.78 acres. It bought the land April 6 from TC North LLC, part of Nocatee Development Co. Truist is the merged SunTrust and BB&T banks. St. Johns County reviewed a permit application for a SunTrust bank branch on the site.
cial store at Chester and Lee roads in Yulee. KMATHIS@ JAXDAILYRECORD.COM @MATHISKB (904) 356-2466
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THE BASCH REPORT
Earnings season starts despite shutdown
MARK BASCH CONTRIBUTING WRITER
First-quarter reports are expected to be strong as COVID-19 impact hits in the second quarter. Much of the business world is shut down but earnings season is moving right ahead, with three of Jacksonville’s biggest companies reporting firstquarter results next week: CSX Corp., Landstar System Inc. and Fidelity National Financial Inc. Freight transportation companies like CSX and Landstar are generally among the first to report earnings every quarter and usually are considered a bellwether of the overall state of the economy. However, these aren’t usual times. Morgan Stanley analyst Ravi Shanker said last week in a report on transportation stocks, including CSX and Landstar, that we likely won’t learn much from their quarterly reports. “First-quarter results across
File image
Landstar System Inc. will report its earnings April 22.
the space may be better than expected but will likely be irrelevant as investors look ahead to a third-quarter rebound (once we make it past the historic second-quarter trough),” he said. “We expect management to provide little by way of a forward outlook given unprecedented uncertainty.” Although the economy has collapsed in the last few weeks, transportation companies were operating at high levels through most of the first quarter, Shanker said. “Based on first-quarter datapoints, it appears that (the) first quarter was relatively ‘normal’ in January, February and early March before a burst of activity in mid-March ahead of extended shutdown preparations followed by a cliff in the last week of March,” he said. “The end result is that (the) first quarter is likely to be relatively normal or even slightly better than normal vs. the overall macro data that we have seen.”
Transportation stocks plummeted along with the rest of the market over the past two months. With CSX down 24% from its February peak of $80.73, Goldman Sachs analyst Jordan Alliger raised his rating on the railroad company from “neutral” to “buy” last week. “We take the sharp downdraft in CSX equity as an opportunity to upgrade the shares,” Alliger said in his report on transportation stocks. “While the upcoming quarters certainly bring elevated EPS risk – despite our estimate reductions – we believe CSX on a 12-month basis offers solid risk/reward.” Alliger maintains a “sell” rating on trucking company Landstar with a $94 price target. Landstar closed last week at $104.09, down only about 6% from its February precrash level.
Fidelity upgraded after big drop Fidelity National Financial lost about half its value in the recent crash. But Keefe, Bruyette & Woods analyst Bose George upgraded the stock from “market perform” to “outperform” ahead of the earnings report, as part of a general upgrade of the title insurance industry. “Despite facing near-term headwinds because of lower residential and commercial transaction volumes that will weigh on earnings, we are upgrading the title insurers
given the compelling valuations” after recent declines, George said in a research note. “We expect this business to emerge from the recession with most of its earnings power intact,” he said. George set a price target of $37 for Fidelity, which was trading at $25.69 at the time of his upgrade last week.
Analyst assesses Regency tenants Before a rebound last week, Regency Centers Corp.’s stock had lost about half its value since February as investors weigh the impact of store closings on the Jacksonville-based company’s shopping centers. In a research note on Regency, Wells Fargo analyst Tamara Fique estimated about 53% of tenants in the company’s centers remain operational. Regency focuses on centers anchored by supermarkets, which continue to operate as “essential” businesses, and its centers have other tenants such as quick-service restaurants that remain open for takeout and delivery meals. It’s difficult to predict when the shopping centers will return to normal, Fique said. “With government stimulus aimed at keeping small businesses afloat and landlords working with tenants on rent deferrals, we are projecting that a majority of tenants will reopen stores,” she said. “Human behavior is also a factor and there is uncertainty
about how and when consumers will return to previous activities which could extend the pressure on retailers beyond reopening dates. This behavior may vary by geography with harder hit areas more reluctant to resume normal activities.” Fique lowered her price target for Regency from $75 to $55 but maintained an “overweight” rating on the stock, which closed last week at $44.12.
FIS reduces earnings forecast Fidelity National Information Services Inc., or FIS, slightly reduced its firstquarter earnings forecast on April 13. The Jacksonville-based financial technology company said it is expecting adjusted earnings of $1.26 to $1.28 a share, above first-quarter 2019 earnings of $1.16 but below its previous forecast of $1.30 to $1.34. “As U.S. and foreign governmental authorities imposed social distancing, shelterin-place or total lock-down orders, spending declined, most notably in travel, restaurants, entertainment, and retail, resulting in a rapid deterioration in payments volume and transaction trends on a worldwide basis,” FIS said in a news release. MBASCH@ JAXDAILYRECORD.COM
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Council confirms new JEA board, puts change to process on ballot BY MIKE MENDENHALL STAFF WRITER
The Jacksonville City Council confirmed Mayor Lenny Curry’s seven appointees to the JEA board and approved a bill that will ask voters to change how selections are made. Confirmed at the Council’s April 14 virtual meeting are: • John Baker II, executive chairman and CEO of FRP Holdings Inc. • Retired U.S. Army Lt. Gen. Joseph DiSalvo. • A. Zachary Faison Jr., Edward Waters president and CEO. • Dr. Leon Haley Jr., UF Health Jack-
Hazlnut CONTINUED FROM PAGE 1
create a universal survey platform for restaurants. It’s a part of PS27 Ventures and works locally with Larry’s Giant Subs. Hazlnut has five employees and Sikes said they’ve been working overtime to turn around products for customers, since many want to be online as soon as possible. Hazlnut can get a restaurant online in two to three days. “We’ve definitely been trying to expedite this as much as we can for these businesses,” Sikes said. “And we’ve been told multiple times from multiple different clients that our service has really been saving their business in this time.” Most of the inquiries Hazlnut received in the past month have been for webbased ordering platforms. The company also develops mobile apps as a premium service.
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PEOPLE ON THE MOVE Promotions, hirings and happenings for business people in Northeast Florida. Send items to ssailer@jaxdailyrecord.com
sonville CEO. • Marty Lanahan, IberiaBank executive vice president and regional president. • Robert “Bobby” L. Stein, The Regency Group president. • Tom VanOsdol, president and CEO of Ascension Florida. The newly appointed board is scheduled to meet April 28, when it is expected to launch the search for the utility’s next CEO. Council voted 19-0 to place a referendum on the Nov. 3 ballot that would divide the job of appointing JEA board members, now solely held by the mayor. If approved, the city charter change would give the Council four JEA board appointments and the mayor three.
The University of North Florida named William F. “Chip” Klostermeyer dean of the College of Computing, Engineering & Construction. He joined UNF in Klostermeyer 2001 as a professor of computer science and assumed the interim dean role in October 2018. He leads 60 faculty and thousands of students in the School of Computing, School of Engineering, Department of Construction Management, Materials Science and Engineering Research Facility, Center for the Advancement of Women in Engineering and the Taylor Engineering Research Institute.
While Hazlnut has been seeing a significant increase in new clients, it hasn’t been as profitable as it could be. To help struggling restaurants, Sikes said he has been waiving some development fees. The web-based ordering platform costs $89 a month for Hazlnut clients, plus a $199 activation fee and a $750 development fee. Apps are $109 a month, with a $199 activation fee and $1,500 development fee. There’s also the concern that some new clients, as well as existing ones, may not stay in business through the end of the pandemic. “As interesting and as good as the business has been, it’s a double-edged sword,” Sikes said. “Some of our customers may not be able to reopen their restaurants. They may have just taken too much of a loss. I think that’s the dark cloud over all of this.”
DEVELOPMENT TODAY These are the largest commercial building permits by job cost issued Tuesday by the city of Jacksonville. HOTEL, MOTEL, DORMITORY WoodSpring Suites, 7125 Bonneval Road, contractor is DI Construction LLC, 49,617 square feet, two permits for new building and trash enclosure, $6.55 million.
Wells Fargo executive John Duce is the 2020 chairman of Gator Bowl Sports and will preside over all Gator Bowl Sports entities including the TaxSlayer Gator Bowl Duce football game and game week events as well as Gator Bowl Charities youth initiatives. Duce is a native of Gainesville and joined the Wells Fargo team through predecessor banks immediately following college. His career brought him to Jacksonville in 1993. He is senior vice president of middle market banking.
SCHOOL, LIBRARY, OTHER EDUCATIONAL Edward Waters College Inc., 1859 Kings Road, contractor is STG Contracting Group Inc., 10,193 square feet, two permits for stadium and concession with restroom building, $865,000. Compiled by Scott Sailer
BUSINESS CALENDAR To find more business events or to submit your event to the the business calendar, visit jaxdailyrecord.com/calendar. OCT. 20 National Security Advisor Brett McGurk to World Affairs Council: National Security Advisor Brett McGurk rescheduled his April 28 presentation to
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the World Affairs Council of Jacksonville to Oct. 20. The event is free but registration is required. For information, visit worldaffairscounciljax.org or call (904) 280-8162.
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THURSDAY, APRIL 16, 2020
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JACKSONVILLE DAILY RECORD / J ACKSONVILLE RECORD & OBSERVER
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THURSDAY, APRIL 16, 2020
JaxDailyRecord.com
FROM THE PUBLISHER
Help 1%, but don’t forget the 99%
MATT WALSH PUBLISHER
One-size-fits-all shutdowns don’t make sense. Public officials should shift their focus to reopening the economy.
T
wo 90-year-olds — one in Florida, the other in Colorado — were lamenting last Saturday the state of affairs in the U.S. The Coloradoan said: “Our generation, the one before us and the one after us worked to build up this great, modern economy over the past 100 years, and they’ve managed to kill it in one month.” “They” are the political class and the technocrats in Washington, D.C.; the nation’s sheeplike governors, mayors and bureaucrat city managers — all of whom parade in front of the TV cameras and try to outdo their peers with their authoritarian orders for the “health and safety” of their citizens. Emotions and computer models over facts. High up there with all of them: the national media. Give them a crisis, no matter how small, and they feast like hyenas on the smell of blood, especially President Donald Trump’s blood. They froth too much.
To that end, a lot of you aren’t going to like what follows, but here goes: The political classes and media have blown COVID-19 way out of proportion. The medicine they have dispensed across the country is worse than the virus itself. They need to take a breath, to step back from the panic and start in earnest to shape plans and begin reopening the economy — especially in those areas where the coronavirus is not a crisis or a threat. Governors and mayors and city and county commissioners need to face the fact the U.S. is now in a recession. To be sure, Florida is. And how much social and economic destruction that will bring depends on the actions of the political class starting now. The man from Colorado above is totally right. The politicians and media created a panic that has inflicted pain on 99.82% of the U.S. population. Their lives in exchange for: As of April 15, 601,472 Americans with confirmed cases of COVID-19 and 24,429 deaths, according to Johns Hopkins University. Together those two groups make up 0.19% of the U.S. population. COVID-19 IN PERSPECTIVE
Mind you, we know: All lives matter. But consider some perspective. The following are monthly deaths in the U.S.: Heart disease: 54,000 Cancer: 50,000 Bronchitis, emphysema: 14,000 Stroke: 12,000 Alzheimer’s: 10,000 Diabetes: 7,000 Drug overdoses: 5,600 Flu/pneumonia: 4,700 That’s 157,000 a month. COVID-19 deaths: 12,000 since
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February. As commentators Bill Bennett and Seth Liebsohn wrote in RealClear Politics: “Where is the daily mortality count [on those other causes of death]? The blaring headlines? The upending of the country? “Did we ever suggest shelter-in-place orders to clean the streets of illegal drug activity or shut down industries? … Of course not, though its high body count and cost affects a great many more families and businesses.” You’ve seen the economic toll — the skyrocketing unemployment claims. These are all able-bodied families whose mental states now are consumed by the fear, anxieties and, especially, the uncertainties of: “How am I going to pay my bills?” “Will we have money to feed the family?” “Will we have money to keep buying my medicines?” “Will my job come back?” Small-business owners are measuring daily how much longer their cash will keep them in business. What about the federal bailout-relief money for employers and employees? One banker told us: If you’re counting on that money to save your business, don’t. Picking up takeout Saturday night, we saw the restaurant owner bringing bags of food to her customers on the street. “I’m exhausted,” she said. You could tell it. “If I stop, I’ll cry.” She’s hanging on day by day. Multiply that by 836,000 — the number of restaurants in Florida. Look inside the households of working parents with school-age children. We’ve heard from two mothers describing the high-level frustrations of trying to manage their jobs and have their children finish their lessons from the confines of their homes. Think of the toll this is taking on families. Recessions always bring strife that goes beyond money — depression, suicides, drug abuse, domestic violence. This is nationwide. We received a text Sunday from a weekly churchgoer: “My church had a new program for watching Palm Sunday services. If this is what passes for a church today, I can live without it.” It’s difficult to accept that the politicians and religious leaders have shut the doors to houses of worship. You can’t even go in to kneel and say a prayer. Surely, God is distressed as well. This has a bad effect on society. All of this is now. CASCADING EFFECTS
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Here is what is still to come: The jobless are not paying or are asking for breaks on their mortgages, rent, car payments and credit card payments. Small-business owners are telling their landlords they won’t be paying rent for the next few months, or several months. That means the landlords won’t be paying their mortgages, either. And the investors who are holding the mortgage-backed securities won’t be getting their monthly payments and interest. The next real estate recession has begun. Joel Ross, a Longboat Key resident and owner of Citadel Realty, a national advisory and investment firm, told us residential resales and homebuilding pretty much will come to a halt. “Banks won’t make mortgages because they won’t be able to price the real estate.” Values will decline. “It’ll be a slow climb back,” Ross said. The Florida hotel industry will suffer more than any other sector. Ross used the term “obliterated.” Hotel owners will use up reserves to stay open and then be faced with the need for cash to persuade travelers that their hotels are clean and safe. If there is cause for economic hope when this crisis ends, you can link it two things: • Consumers’ savings-to-debt ratios going into the crisis were at their best levels in decades. • And if the federal government indeed makes them whole with the $2 trillion or more in rescue money, consumers
will have money again. But just as no one knows what will stop COVID-19, or when it will stop, no one knows how the economy will come back — in a “V,” fast and strong, or in a “U,” slow and long. WHAT IS THE COVID-19 GOAL?
For the political class — president, governors, legislators and local government commissioners and managers, this is the time to act. Yes, every level of government should be doing what the private sector has been doing: cutting expenses and personnel in expectation of declining sales tax revenues and property values. That’s expected. More important: All of these top public officials should answer these crucial questions: What is the goal with COVID-19? What will constitute realistic success — a decline in new cases over, say, a sevenday period? Eradication? Who will define what “safe” is? The governor? Mayors? The D.C. medical technocrats? Or should all Floridians go back to the freedom of deciding on their own, using their own rational mind? For starters, elected officials should use facts, not the opinions and emotions of cable news talking heads. In Florida, as it is throughout the U.S., a one-size-fits-all, stay-athome approach doesn’t make sense. For instance, three counties — Dade, Broward and Palm Beach — account for 58.8% of the COVID-19 cases in Florida. Thirty-seven of Florida’s 67 counties have fewer than 100 cases. It’s obvious from the distribution of cases that Gov. Ron DeSantis should have a two-pronged approach — tougher restrictions in South Florida, Florida’s epicenter, less so around the state. LET CONSUMERS DECIDE
Except for those three, he should lift stay-at-home orders throughout the state, starting with the least affected counties onward. Do it measuredly, but quickly. Likewise, give local school boards the authority to reopen. Children are the least vulnerable. Let the districts work out the logistics of educating the children who choose not to return. Likewise, lift all the orders preventing businesses from reopening. Reopen dining in restaurants. Business owners are smart enough to decide what’s best for their customers, their employees and their business. And customers are smart enough to decide what’s best for themselves. Businesses and consumers can and will make their own decisions about risk. That’s how freedom and capitalism work. Businesses are incentivized to operate responsibly, so they attract customers and employees. The alternative is shutdown. Of course, there is no such thing as total safety. About 170,000 Americans a year die from accidents. What’s more, according to Just Facts, accidents are about 140 times more lethal to Americans than the worst-case projections for COVID-19. No doubt, there will be many readers who think these ideas are heretical and nuts. But over decades of witnessing governments in action and American ingenuity and compassion, you have to have more faith in the American people and the mutually beneficial give-andtake of the free market than in the politicians who are willing to make us slaves to their technocrats and dictates. As Henry Ford once stated: “Any man who thinks he can be happy and prosperous by letting the government take care of him had better take a much closer look at the American Indian.” It’s time public officials shift their focus: To be sure, help the 1% affected by the virus. But not at the expense of the health, hopes and lives of the other 99%.
MWALSH@JAXDAILYRECORD.COM (904) 356-2466
JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER
JaxDailyRecord.com
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THURSDAY, APRIL 16, 2020
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EXECUTIVE BOARD
Christina Welch Chairman
Like most of you, I had never heard of COVID-19 and this pandemic will change the way we work in our industry for the next couple of months.
Keller Williams Atlantic Partners
Donny Griffin
Listening to the news and reports can make you think there isn’t a light at the end of the tunnel, but we need to come together and continue to do what we do best. Although we cannot see each other out in the world, we are all taking avenues to continue to maintain our business. We ask, “How can we help you?”, “What support do you need?”, “What services can we offer to help your businesses keep going?” Remember, we are all in this together and even though we may have to work a little different in the next couple of months, this will pass. Let’s come together as an organization to help each other get through this with as little downturn as possible.
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JACKSONVILLE DAILY RECORD / J ACKSONVILLE RECORD & OBSERVER
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THURSDAY, APRIL 16, 2020
JaxDailyRecord.com
Top commercial sales of the week BY SCOTT SAILER • STAFF WRITER
Here are the top 10 commercial real estate sales in Northeast Florida, comprising Baker, Clay, Duval, Nassau and St. Johns counties. The sales were recorded April 6-12.
Cornerstone Classical Academy Inc. paid $7.5 million March 31 for the New Covenant Ministries Inc. property at 2360 St. Johns Bluff Road S., between Atlantic and Beach boulevards.
DUVAL
DUVAL
DUVAL
ST. JOHNS
DUVAL
$7,500,000
$3,817,145
$3,225,000
$2,088,572
$1,600,000
2360 St. Johns Bluff Road S., Jacksonville
3633 St. Augustine Road, Jacksonville
8220 Dix Ellis Trail, Jacksonville
500 Outlet Mall Blvd., St. Augustine
1512 Penman Road, Jacksonville Beach
Type: Cornerstone Classical Academy Parcel size: 16.58 acres Building size: 22 buildings totaling 79,576 square feet Buyer: Cornerstone Classical Academy Inc. Seller: New Covenant Ministries Inc.
Type: Caliber Collision Parcel size: 1.14 acres Building size: Three buildings totaling 31,982 square feet Buyer: Richard J. Bidgood and Christopher T. Beaudoin Seller: Cross Development CC Jacksonville St. Augustine LLC Previous sale: $1,310,000 in 2018
Type: America’s Best Inn Parcel size: 3.71 acres Rooms: 109 Buyer: Baymeadows Hotel 18 LLC Seller: Good Night Inn and Suite Baymeadow 770 LLC
Type: Commercial Parcel size: Not available Building size: Not available Buyer: Bozard Land LLC Seller: LVP St. Augustine Outlets LLC
Type: Office commercial Parcel size: 0.73 acres Building size: Two buildings totaling 9,458 square feet Buyer: Beach Realty Holdings LLC Seller: R. Michael Poland
ST. JOHNS
DUVAL
DUVAL
DUVAL
DUVAL
$1,550,000
$1,200,000
$1,150,000
$700,000
$650,000
215 Pine Lake Drive, Nocatee
3949 Atlantic Blvd., Jacksonville
Heckscher Drive, Jacksonville
Nottoway Woods Lane, Jacksonville
5824 Mining Terrace, Jacksonville
Type: Undeveloped commercial Parcel size: 0.78 acres Buyer: Truist Bank Seller: TC North LLC
Type: Church Parcel size: 1.92 acres Building size: Two buildings totaling 10,172 square feet Buyer: New Covenant Ministries Inc. Seller: King of Kings Christian Church Inc. Previous sale: $705,000 in 1996
Type: Undeveloped Parcel size: 1.04 acres Buyer: St. Johns Marine Group LLC Seller: Pilottown LLC Previous sale: $1,100,000 in 2006
Type: 14 single-family lots in Pritchard Plantation Phase 4 Parcel size: Not available Buyer: D.R. Horton Inc. – Jacksonville Seller: Pritchard Point II LLC
Type: Open storage Parcel size: 2.04 acres Buyer: TO Main LLC Seller: M&M Properties of Jacksonville LLC
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COMMERCIAL REAL ESTATE
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