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Record & Observer

WHAT CEOs MAKE JACKSONVILLE

Kroger plans to deliver groceries in Jacksonville

Record & Observer According to public filings, the average fiscal 2020 compensation package JACKSONVILLE for the CEOs of Jacksonville-based public companies fell by 4% last year.

The Cincinnati-based food retailer is hiring an HR leader for the project.

Record & Observer BY KAREN BRUNE MATHIS EDITOR

THE TOP THREE OF 2020

JACKSONVILLE

Midwest grocery company Kroger is building-out a logistics operation in North Jacksonville to deliver fresh groceries. Kroger Fulfillment Network LLC, part of Cincinnati-based The Kroger Co., is the tenant for a 62,208-square-foot space at 1 Imeson Park Blvd., No. 200. The project is described as a cross-dock for mercantile goods, which means goods are brought in and quickly shipped out to their destination. The city issued a permit May 11 for Caddell Construction Co. LLC of Jacksonville to build-out the space at a cost of $205,000. Kroger representatives did not respond to questions through the afternoon of May 12. Kroger Logistics posted a job opening for a human resources generalist for its “new Jacksonville location.” The center is part of a new concept for Kroger, “where customer orders are picked daily by Fulfillment Center Associates and delivered to customer homes the following day in Kroger refrigerated vans by Deliver Drivers.” Kroger is using a hub-andspoke system for the service and has started it in Central Florida. It is hiring the position for the Jacksonville “spoke,” which appears to be similar to the Tampa spoke, an arm of the Groveland fulfillment center about 30 miles west of Orlando. As of Jan. 20, the grocer operated 2,742 supermarkets under Kroger and local banner names.

Record & Observer Gary Norcross

Anthony Jabbour

James Foote

FIS Group

Black Knight

CSX

$17.91 million

$16.06 million

$15.31 million

The packages include salaries, cash incentive payouts and the estimated value of stock and option awards the executive received during the fiscal year. The Jacksonville data counters the national trend at big companies. The Wall Street Journal reported last month that the median CEO pay at 322 S&P 500 companies rose by 15%. Many executives took pay cuts as the COVID-19 pandemic affected business, but their total packages still rose because

the continued bull market increased the value of their stock awards. The biggest pay gain among Jacksonville executives did not come from stock gains, however. Dream Finders Homes Inc. founder and CEO Patrick Zalupski received a $4 million cash bonus last year, before the company’s initial public offering in January. Fidelity National Information Services

BY MARK BASCH CONTRIBUTING WRITER

ou likely won’t see them getting sympathy, but CEOs of Jacksonvillebased companies made less money last year. The average fiscal 2020 compensation package for those local CEOs fell by 4% last year, according to public filings.

SEE CEO PAY, PAGE 4

THE COMPENSATION CHART FOR ALL 17 CEOS, PAGE 4

What’s Trending: Restaurant part of Southbank apartments PAGE 2 $300 million investment planned at Westlake Industrial Park PAGE 7 The top 10 sales of the week in residential real estate PAGE 12

KMATHIS@JAXDAILYRECORD.COM (904) 356-2466

THE MATHIS REPORT

APR Energy relocating headquarters, warehouse Three hotels in development take steps. PAGE 3 VOLUME 3, NO. 50 • ONE SECTION

WHAT’S TRENDING

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER 2 JaxDailyRecord.com

13, 2021 THURSDAY, MAY JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

Big news doesn’t break just on Thursday. Here’s a look at some of the top stories published over the past week online at JaxDailyRecord.com and in the Jacksonville Daily Record that you may have missed.

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Record, is published Monday-Friday and is the Official Court Newspaper of the Circuit Court and publisher of public notices in Duval County.

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Restaurant part of apartment project

Jacksonville Record & Observer is a free weekly business newspaper available in Downtown Jacksonville and key business nodes throughout Jacksonville. To find a location near you, visit jaxdailyrecord.com/rack-locations. The 327-unit multifamily project and Related Group submitted designs restaurant would replace River City to the city for the restaurant it agreed Editorial content focuses on news and trends, with a concentration on development, Brewing Co. at 835 Museum Circle, to build as part of its $99.16 million real estate, construction, law, companies, economic and industry trends and how local west of Friendship Park. apartment community on the Downand state government affects business. A DDRB staff report and renderings town Jacksonville Southbank. released May 6 show a restaurant with The Miami-based developer seeks STAFF3,200 square feet of outdoor dining conceptual approval for the restauspace, a 914-square-foot indoor dining rant design and final approval for the Director Publisher / Matt Walsh of Advertising / Jay Lesowitz area and 883 square feet for kitchen RD River City Brewery apartments at mwalsh@jaxdailyrecord.com jlesowitz@jaxdailyrecord.com and storage. That totals 4,997 square the May 13 Downtown Development Publisher Emeritus / James F. Bailey Jr. Advertising Coordinator / Codi Gildberg feet. Review Board meeting. jbailey@jaxdailyrecord.com

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Exchange West planned for eTown community

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The Official Newspaper for the U.S. Bankruptcy Court for the Middle District of Corinne Murrell Florida, Jan. 4, 1947. Associate Attorney

AFFILIATIONS (904) 249-1440 | info@lorigaglione.com Florida Press Association www.LoriGaglione.com

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The Official Court Newspaper of Duval County by Order of the Lori A. Gaglione Circuit Court, July 7, 1961. Owner, Attorney

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JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

JaxDailyRecord.com

THURSDAY, MAY 13, 2021

APR Energy moving HQ to Deerwood North Tru by Hilton near Airport: The city issued permits April 30 for Dix Construction Inc. of Flagler Beach to build the 105-room, fivestory, 53,961-square-foot Tru by Hilton hotel at 1265 Airport Road at a cost of $7.7 million. Those permits included construction of a dumpster enclosure and pool equipment storage.

KAREN BRUNE MATHIS EDITOR

The company also is downsizing its distribution center and relocating to Park 295 Industrial Park. Photo by Monty Zickuhr

APR Energy is leaving 3600 Port Jacksonville Parkway in NorthPoint Industrial Park. It will move to less space at Park 295 Industrial Park and relocate offices to Deerwood North.

NorthPoint Development of Riverside, Missouri, is the developer of Park 295. Through NP Jacksonville Industrial LLC, NorthPoint paid almost $4.77 million in August 2018 for about 175 acres to develop the five-building project. Ulta Beauty Inc. is leasing 203,463 square feet of space and Quiet 3PF is a tenant for 174,157 square feet in Building B. APR Energy will build-out 42,038 square feet. Park 295 is working toward adding more warehouses. It intends to build the 394,277-square-foot Building C next to the completed structure. Newmark Phoenix Realty Group represents the park.

markets and industries. APR’s mobile, turnkey power plants help run cities, countries and industries worldwide in developed and developing markets.

Sarnova permit issued for Park 295 project Medical supplies distributor Sarnova joins power company APR Energy in Building B at 2619 Ignition Drive in Park 295 Industrial Park. They will join Ulta Beauty Inc. and Quiet 3PF to take the 552,634-squarefoot structure to full occupancy. For Sarnova, Dav-Lin Interior Contractors Inc. will build-out 130,567 square feet of space in unit No. 2 at a cost of $2.45 million. The permit application identifies the project as Sigma, which appears to be a placeholder name. Sarnova is identified on supporting documents. The architect is StudioNorth Architecture of Riverside, Missouri. Jacksonville City Council approved a $260,000 grant Feb. 9 for an undisclosed national pharmaceutical and medical device distributor to lease space in Northwest Jacksonville for its Southeastern U.S. distribution center. Dublin, Ohio-based Sarnova matches the description. As Project Robalo, the company told city Office of Economic Development officials that it will invest $6.72 million and create 25 full-time jobs by year-end 2023 under the economic development agreement tied to the bill. The city requires the company to make a minimum $3 million capital investment in the project site by Dec. 31, 2023, to receive the Recapture Enhanced Value Grant. The distributor will need to complete $2.4 million in leaseholder improvements to the warehouse by Dec. 31, 2022.

GuideWell preparing space for the market The city is reviewing a permit application for GuideWell to renovate four floors at 532 Riverside Ave. at a cost of $2.06 million to lease them out. Florida Blue, a GuideWell company, owns the 20-story tower. “The work is largely aesthetic improvements as we market the space to new tenants,” said spokesperson Toni Woods. The four floors comprise the first, third, ninth and 10th. Woods said previous tenants vacated and they were not GuideWell functions or companies. GuideWell Source and GuideWell Connect entities remain in the building. JLL is marketing that and other space in the building totaling 314,064 square feet of the 570,000-square-foot building. KMATHIS@JAXDAILYRECORD.COM @MATHISKB (904) 356-2466

MOWERKS, INC.

DEVELOPMENT NOTES FlexCold to North Jacksonville: The city issued a mobility fee calculation certificate for FlexCold’s proposed 150,221-squarefoot warehouse on 23.81 acres at 11180 Faye Road, at Blasius Road, in North Jacksonville. The fee is $72,473. England-Thims & Miller Inc. is the civil engineer. South Carolinabased FlexCold proposes a processing and distribution facility for frozen protein.

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Tru by Hilton in Southside: The city calculated a mobility fee of $80,640 for a proposed 98-room Tru by Hilton hotel at 4945 Lenoir Ave. in South Jacksonville. The 41,000-square-foot project, with a pool, is planned on 2.74 acres. Dhimant Soni of Lake City is the developer. He is manager of OMSHIV JAX LLC. William E. Tully III Inc. is the civil engineer.

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APR Energy, which is leaving NorthPoint Industrial Park, will move its Jacksonville headquarters space to Deerwood North as it moves distribution to Park 295 Industrial Park. NAI Hallmark brokered a move for APR into 15,000 square feet of office space at 4600 Touchton Road in Deerwood North in South Jacksonville. NAI Hallmark reported in its Jacksonville Metro Q1 2021 Market Report that Managing Partner Christian Harden and Industrial Vice President Jason Purdy represented APR Energy in the February office deal. Jacksonville-based APR, founded in 2004, provides power plants on a fasttrack basis around the world. APR Energy was publicly traded before a buyout by a group of private equity firms in 2016. APR was sold again in February 2020 for $750 million to Atlas Corp., a publicly traded Hong Kong-based holding company. APR is leaving the 186,452-squarefoot Building 3 at 3600 Port Jacksonville Parkway in NorthPoint Industrial Park. The city issued a permit May 4 for Dav-Lin Interior Contractors Inc. to build-out 42,038 square feet of industrial space for APR Energy in Park 295 at 2619 Ignition Drive, No. 4, at an estimated cost of $500,000. The park is in Northwest Jacksonville at Interstate 295 and Duval Road. APR Energy is downsizing its Jacksonville presence. APR and Atlas have not responded to a request for comment. In August, APR Energy filed a notice with state officials saying it permanently will lay off 50 of its 150 workers at its Jacksonville headquarters at 3600 Port Jacksonville Parkway. The letter sent July 29 under the Worker Adjustment and Retraining Notification Act said the layoffs would begin in late September. Publicly traded Atlas said APR’s revenue was $242 million last year. APR Energy says it provides rapidly deployable, large-scale power and fast-track mobile power to underserved

TownePlace Suites permit: On April 7 the city issued a permit for the 102-room TownePlace Suites at 1287 Airport Road at a cost of $8.39 million. That fivefloor, 63,221-square-foot project is next to the Tru by Hilton. The city also issued permits April 30 for the dumpster enclosure and pool equipment storage for TownePlace Suites at a cost of $45,000. Inn of Jax LLC, the developer, bought the 4-acre property in July 2019 for $2.85 million. The site contained a closed Wendy’s restaurant, which was approved for demolition in February.

THE MATHIS REPORT

HOTEL NOTES

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, MAY 13, 2021

JaxDailyRecord.com

WHAT CEOs MAKE BY MARK BASCH • CONTRIBUTING WRITER

This table shows the total value of fiscal 2020 compensation packages for CEOs of public companies based in the Jacksonville area, and the change from 2019. It includes the estimated value of stock awards and stock options granted. The value of stock compensation can change based on the market price of the company’s stock, so public

companies use complex formulas to come up with an estimated value that is reported on their annual proxy statements. The chart also shows the base salary each CEO was paid last year and the total of cash incentive payments, which generally are tied to meeting performance targets.

Company

CEO

Salary

Incentives Total

Change

Black Knight

Anthony Jabbour

$600,000

$2,268,000

$16,061,435

58%

CSX

James Foote

$1,250,000

$1,500,000

$15,306,715

1%

Dream Finders

Patrick Zalupski

$450,000

$4,000,000

$4,546,813

750%

Duos Technologies

Charles Ferry*

$83,333

$50,217

$169,843

N/M

Fidelity National Financial

Raymond Quirk

$888,077

$3,500,000

$9,716,868

1%

FIS

Gary Norcross

$1,200,000

$17,905,009

35%

Fortegra

Richard Kahlbaugh

$800,000

$771,000

$2,831,360

N/M

FRP Holdings

John Baker

$165,000

$206,250

$703,678

54%

GEE Group

Derek Dewan

$300,000

None

International Baler

Victor Biazis

$200,000

None

Landstar System

James Gattoni

$500,000

$2,699,091

2%

ParkerVision

Jeffrey Parker

$270,000

$393,923

65%

Patriot Transportation

Robert Sandlin

$354,296

$567,597

2%

Rayonier

David Nunes

$818,750

$1,459,420

$5,410,816

16%

Rayonier AM

Paul Boynton

$1,005,000

$1,155,000

$5,579,824

24%

Regency Centers

Lisa Palmer

$825,000

$518,000

$4,944,744

N/M

Southeastern Grocers

Anthony Hucker

$1,072,692

$2,145,385

$3,291,435

39%

* Became CEO Sept. 1, 2020

CEO pay CONTINUED FROM PAGE 1

Inc. CEO Gary Norcross had the biggest drop in 2020, with his compensation package falling by almost $10 million because of a decline in stock awards and because he didn’t receive a cash

N/M – Not measurable

incentive payment. However, Norcross still received $17.9 million from the company commonly known as FIS. Last week, FIS increased its earnings projections for 2021 but a month earlier, it sent a letter to employees stating it “is not immune from the financial impact the pandemic has had on businesses globally.”

As a result, it said salary increases “will be limited to very targeted adjustments.” In response to a question about its pay packages, an FIS spokesman said by email the company has taken steps to benefit employees, such as increasing its minimum wage and not having any broad staff reductions. FIS, which is building a new Jacksonville headquarters, has increased local

employment by about 200 since the pandemic began, he said. “We are pleased with our first quarter results and our start to the year, and continue to be focused on driving the financial performance needed to return to a more normal compensation year in 2022,” he said. MBASCH@JAXDAILYRECORD.COM

DUVAL COUNTY DELINQUENT REAL ESTATE

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JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, MAY 13, 2021

A VISION AS BOLD AS OUR CITY.

SETTING OUR SIGHTS ON JACKSONVILLE’S FUTURE SINCE 1924. From revolutionizing the cigar industry right here in Jacksonville to today’s bold vision for the future, our people have always driven our culture of innovation and rooted us in this community—paving the way for the successes we enjoy today. At Swisher, our vision is to encourage innovative thinking and action not only in our business but in the many ways we give back to the city we proudly call home.

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JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, MAY 13, 2021

JaxDailyRecord.com

Top commercial sales of the week FROM STAFF

Here are the top 10 commercial real estate sales in Northeast Florida, comprising Duval and St. Johns counties. The sales were recorded May 3-9.

The BridgePrep Academy of Duval property at 6400 Atlantic Blvd. and Spring Forest Avenue sold for

$36.24 million.

DUVAL

ST. JOHNS

DUVAL

$36,236,000

$11,540,000

$8,842,715

$5,760,643

$4,869,429

6400 Atlantic Blvd. and Spring Forest Avenue, Jacksonville

2391 U.S. 1 S., St. Augustine

6940 Stuart Ave., Jacksonville

8917 San Jose Blvd., Jacksonville

12387 Yellow Bluff Road, Jacksonville

Type: LifeStorage Parcel size: 3.72 acres Building size: 107,295 square feet Buyer: Life Storage LP Seller: 2391 Partners LLC

Type: Florida Metal Products Parcel size: 4.15 acres Building size: Two buildings totaling 111,570 square feet Buyer: Maxi Resi Property LLC Seller: Florida Metal Products LLC

Type: Walgreens Parcel size: 1.91 acres Building size: 16,948 square feet Buyer: Project Jupiter Fund V LLC Seller: Walgreen Co.

Type: Walgreens Parcel size: 1.77 acres Building size: 15,625 square feet Buyer: Project Jupiter Fund V LLC Seller: Walgreen Co.

DUVAL

ST. JOHNS

DUVAL

$4,500,000

$3,093,060

$3,050,000

$3,000,000

$2,686,000

6455 San Juan Ave., Jacksonville

Meadow Ridge, Watervale and Pine Bluff drives, St. Augustine

Rivertown Main Street, Saint Johns

7915 Atlantic Blvd., Jacksonville

8033 Normandy Blvd., Jacksonville

Type: Undeveloped Parcel size: 29.71 acres Buyer: Rivers Edge III Community Development District Seller: Mattamy Jacksonville LLC

Type: Commercial Parcel size: 4.59 acres Building size: Four buildings totaling 60,274 square feet Buyer: Gerber Real Estate Inc. Seller: Alan L. Kearley

Type: KFC Parcel size: 1.43 acres Building size: 2,952 square feet Buyer: TFI LLC Seller: LJ Remainder II LLC

Type: BridgePrep Academy of Duval Parcel size: 9.99 acres Building size: 106,019 square feet Buyer: Educational Growth Fund LLC Seller: MG3 Jacksonville LLC Previous sale: $2,300,000 in 2016

Type: Casa Grande Apartments Parcel size: 2.64 acres No. of units: 59 Buyer: Samson Equities LLC and ORA Equities LLC Seller: CG Apartments LLC Previous sale: $3,414,000 in 2018

Type: 53 residential lots in Meadow Ridge, Holly Forest and Holly Forest Townhomes Parcel size: Not available Buyer: Dream Finders Homes LLC Seller: JEN Florida 37 LLC

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JaxDailyRecord.com

THURSDAY, MAY 13, 2021

$300M investment planned at Westlake The 3.2 million-square-foot distribution center project will start with three speculative structures. BY KAREN BRUNE MATHIS EDITOR

California-based CT Realty CEO James C. “Watty” Watson estimates a more than $300 million investment in plans for a 251-acre Westlake Industrial Park distribution center along Pritchard Road. A partnership of CT Realty and Diamond Realty Investments LLC plans to develop 3.2 million square feet among eight buildings on property purchased April 29. CT Realty said it will be the largest speculative industrial development in Jacksonville. “We see an opportunity,” Watson said May 10. “We think there is the need for more space now. That is why we are building so aggressively. We think the demand is there, so we are betting on Jacksonville.” Watson said the partnership will start with a first phase of almost 1.75 million square feet among three buildings to be completed for leasing in the second quarter of 2022. The three structures will be 1,010,350 square feet, 416,000 square feet and 320,240 square feet. He said Evans General Contractors has started initial site work. Vertical construction will begin on or about Aug. 1. “We love Jacksonville, we love the growth story, we love the infrastructure,” Watson said. He cited Interstates 10 and 95, the railroads and JaxPort as reasons for identifying Jacksonville as a distribution hub. “Our business is catering to the largest industry tenants, particularly growth fueled by e-commerce,” Watson said. “We’ve been hunting around the Jacksonville market for three to four years looking for a project that was the right scale.” The second phase will follow based on market demand. It will comprise almost 1.5 million square feet among five buildings of 250,000 to 425,000 square feet. The project has not been named, he said. Watson said the first-phase structures will be built simultaneously. No tenants have been signed. “We build these all over the country and there is quite an array of tenants” that seek buildings of the sizes planned, he said. “They tend to be the same size market to market.” He said many of those are retailers who focus on e-commerce; third-party logistics companies; and others. “We talk with large tenants all over the country all the time,” Watson said.

DRI/CTR JAX Phase I LLC bought 251 vacant acres in Westlake Industrial Park from Southeast Toyota Distributors LLC of Deerfield Beach for Watson $19.5 million. The sale was recorded May 10. Watson said Colliers International Executive Director Guy Preston and Associate Director Seda Preston represented the buyer and seller. CT Realty is based in Newport Beach, California. CTR Logistics JAX LLC is the manager of the Florida LLC. Watson said Diamond Realty Investments is the U.S. investment subsidiary of Mitsubishi Corp. Mitsubishi is headquartered in Tokyo and the U.S. office is based in Dallas. “We have done projects all over the country with them,” Watson said. He cited Jacksonville’s job growth, housing starts and consumer spending as adding up “to the need for additional warehouse space.” He also specified growth at JaxPort and “your freedom to develop and freedom to address market needs.” Watson said CT Realty’s first exploratory trip to Florida was four years ago. “We narrowed the field to Jacksonville,” he said. It also is active in Atlanta. “We just think Jacksonville is a great lifestyle alternative, a great growth story and is getting better every day.” CT Realty said the project extends its presence in the Southeast U.S. as the company breaks ground on 10 million square feet of logistics projects in 2021. CT Logistics says on its website that it specializes in the acquisition, development and management of distribution, logistics and e-commerce facilities in Tier 1 markets nationwide. The Jacksonville market is competitive with industrial and distribution projects as several developers continue building speculative and build-to-suit projects. Colliers International reported in its first-quarter Jacksonville Research & Forecast Report that the industrial vacancy rate is steady at 5.2% with average rental rates of $7.14 per square foot, up from $6.88 in the first quarter of 2020. “With nearly 3 million square feet under construction, Jacksonville’s industrial market is on track to exceed 150 million square feet by 2023,” the report said. “New supply seems to be instep with demand so we are not yet concerned about overbuilding.” Guy Preston said May 10 there is room for more. “Corporate America is giving us fourto-six months’ notice to occupy space, so we have to have product — and we are very low on product,” he said. KMATHIS@JAXDAILYRECORD.COM @MATHISKB (904) 356-2466

DEVELOPMENT TODAY These are the largest commercial building permits by job cost issued May 11 by the city of Jacksonville. OTHER The Kroger Co., 1 Imeson Park Blvd., No. 200, contractor is Caddell Construction Co. LLC, 62,208 square feet, tenant build-out, $205,000. SIGNS Duval Charter School at Westside, 9238 103rd St., contractor is White Sign Co. LLC, monument sign, $122,000. South State, ATM Deposits, Exit, 1234 King St., contractor is Don Bell Signs LLC, six permits for ground, wall and directional signs, $11,200. Winn-Dixie, Dollar Shop, Winn-Dixie Liquor, 11380 Beach Blvd., No. 6,

contractor is North Florida Sign Co. Inc., three permits for wall signs, $3,800. Amoco, Regular, Invigorate, AP Express, 3621 Park St., contractor is Aluminum Plus LLC, three permits for wall signs, $1,350. STORES, MERCANTILE Walmart, 12100 Lem Turner Road, contractor is FMGI Inc., store renovation, $3.29 million. Mobil, 7148 Philips Highway, contractor is Aluminum Plus LLC, gas canopy replacement, $57,607. Compiled by Daily Record Staff

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THE FIVE CANDIDATES On May 7, the 4th Circuit Judicial Nominating Commission interviewed seven applicants and sent five names to Gov. Ron DeSantis to fill the vacancy created by the retirement of Duval County Judge Ronald Higbee. DeSantis will appoint one or he may ask the commission for additional nominees.

MAX MARBUT ASSOCIATE EDITOR

All five candidates for the vacancy are members of the Jacksonville Bar Association. The 4th Circuit Judicial Nominating Commission interviewed seven applicants May 7 for the vacancy created by the retirement of Duval County Judge Ronald Higbee effective June 30 and sent the names of five candidates to Gov. Ron DeSantis for his consideration. The commission interviewed the applicants at the Duval County Courthouse. The public could watch on Zoom. All the nominees are members of the Jacksonville Bar Association: Margaret Gibbs Gulliford is an assistant state attorney in the 4th Judicial Circuit. Gulliford said in her interview that being appointed to the county bench would be an opportunity to start slowly and set a good foundation for the future, possibly as a Circuit Court judge. “I like to walk before I run,” Gulliford said. Matthew Lufrano is owner of Lufrano Legal in Jacksonville. He said he feels qualified to be a county judge based on his experience taking 75 cases to a jury verdict, his balanced temperament and his age (redacted on his application available to the news media). “Youth is a potential benefit. It allows the governor’s judicial legacy to last longer,” Lufrano said in his interview. Jonathan Sacks is an assistant state attorney in the 4th Judicial Circuit. A public school kindergarten teacher before he went to law school, Sacks was hired as an assistant state attorney by former State Attorney Harry Shorstein. He is board certified by The

Jonathan Sacks is an assistant state attorney in the 4th Judicial Circuit.

Florida Bar in criminal law. Sacks applied for a vacancy in 2012, but hasn’t appeared before the commission since. Asked about the gap, Sack said nine years ago, he realized he wasn’t ready for the bench. “I promised myself I wouldn’t put myself out there until I was ready,” he said in his interview. Julie Taylor is general counsel, special magistrate and civil traffic infraction hearing officer for the 4th Judicial Circuit in Jacksonville. Taylor said her experience on the bench in traffic court would be valuable as a county judge because that has allowed her to preside in a court where people often represent themselves without an attorney. “I’ve learned patience and how to control the calendar and the court,” Taylor said. Susan Zerbe is an assistant public defender in the 4th Judicial Circuit. A three-time applicant who previously was nominated twice for appointment, Zerbe said her 15 years of experience in the State Attorney’s Office prosecuting domestic violence

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Susan Zerbe is an assistant public defender in the 4th Judicial Circuit.

Clerks of courts and comptrollers in Florida’s 67 counties will be able to better fund their services and stabilize annual budgets with the Legislature unanimously passing House and Senate bills expected to be signed by Gov. Ron DeSantis. Senate Bill 838 and House Bill 903 authorize clerks and comptrollers to establish and maintain reserve funds from one year to the next and also allow enhancement of payment options for consumers. “This legislation will greatly

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Julie Taylor is general counsel, special magistrate and civil traffic infraction hearing officer for the 4th Judicial Circuit.

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Matthew Lufrano is the owner of Lufrano Legal in Jacksonville.

cases and later as a public defender allowed her to learn how to help people through trauma. She said in her interview that she is comfortable carrying a heavy caseload. “I think I have the experience to step right in,” Zerbe said. Each nominee will be interviewed by the governor’s staff. DeSantis will appoint one to succeed Higbee, or he may ask the commission for additional nominees.

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Margaret Gibbs Gulliford is an assistant state attorney in the 4th Judicial Circuit.

benefit our ability to begin fixing the way our services are funded, so we can better help individuals and businesses who interact with the justice system,” said Tara Green, Clay County clerk of court and comptroller and also president of Florida Court Clerks & Comptrollers, in a news release. The priorities authorized by the legislation: ■ Create more stability by authorizing clerks to carry statewide reserves of up to 16% of their annual budget to help plan for emergencies, such as COVID-19. ■ Improve procedures to allow clerks to carry forward certain revenue from year to year and to better manage their budgets. ■ Allow clerks to develop payment plan options to encourage timely fulfillment of financial obligations and help reduce driver license suspensions. ■ Implement efficiencies to reduce local jury administrative costs. Clerks’ offices operate on a cash basis, month-to-month,

relying on the fines, fees, service charges and court costs they collect to fund public services. Many services and activities have no associated fees or revenue, such as domestic violence injunctions and mental health and indigency cases. As Florida’s population grows, funding for clerks’ offices decreases because of the instability of revenue generated in a system based on fines and fees. Clerks are not funded in the General Appropriations Act. Prior to the legislation, they were not allowed to carry statewide reserves to help with emergencies. With the coronavirus pandemic, clerks’ offices saw significant funding reductions from July-September 2020 that averaged nearly 50%, according to the state clerks and comptrollers group. With the governor’s signature, the changes take effect Oct. 1. MMARBUT@ JAXDAILYRECORD.COM (904) 356-2466

Sphere Solutions, Inc. in Jacksonville, has multiple openings: (A) Software Developer I to assist the design, dvlp, test & support SW Apps; (B) Software Developer II to design, dvlp, test & support SW Apps; (C) Software Developer III to coordinate the design, dvlpmt, testing & support of SW Apps; (D) Java Developer I to assist in designing, developing, testing, and supporting JAVA/J2EE Apps; (E) Java Developer II to design, develop, test, and support JAVA/J2EE Apps; and (F) Java Developer III to coordinate the design, development, testing, and support of JAVA/J2EE Apps. No trvl; no telecom. Job duties are proj-based @ unanticipated sites w/in the U.S. and relo maybe requ’d at proj-end. Mail resumes to: Sphere Solutions, Inc., Attn HR, 13241 Bartram Park Blvd., Ste. 1613, Jacksonville, FL 32258.

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THE MARBUT REPORT

Attorneys nominated to succeed retiring judge

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THURSDAY, MAY 13, 2021

MEET THE CGI WINDOWS & DOORS FINALISTS & VOTE FOR THE GRAND PRIZE WINNER! Hialeah-based CGI Windows & Doors, part of the PGT Innovations family of brands, recently selected four standout individuals from across Florida to be awarded with a $1,000 cash prize as part of its “CGI Heroes: Celebrating Strength” contest. The annual event recognizes Florida residents who have gone above and beyond to help others. Read about each finalist below and help choose the grand prize winner who will receive an additional cash prize of $5,000. Voting starts now! Tori Mason, Janet Woods, Bethany Keime, and Drew Rogers were all nominated and selected as statewide finalists for their commitment to assisting others. Giving back to the community has always been part of the company culture at CGI Windows & Doors. That philosophy fueled the launch of the inaugural CGI Heroes contest in 2020 and its expansion to a statewide contest in 2021.

TORI MASON is a school resource officer with the Okaloosa Sheriff’s Office in the Destin/Fort Walton Beach region. The law enforcement officer is passionate about helping kids and serving others. She is a single mom who dedicates her time to serving on the Sheriff’s Office Dive Team, instructs at the Teen Driver Challenge Program, and recently launched a fellowship of Christian Police Officers. Mason is known for going above and beyond to assist students at whatever school she is assigned to and creating safe learning environments and positive interactions between herself and students. She regularly fundraises for families in need and can always be found helping her fellow officers or community members.

JANET WOODS is a dedicated volunteer with the 9463 Foundation and South Florida Rest, organizations that

support first responders in Florida. She’s been making personalized quilts and hand delivering them to families of fallen officers in conjunction with the 9463 Foundation as a volunteer for close to ten years. “I don’t think there’s a quilt I make that doesn’t have a tear drop on it,” she says. A retired legal secretary, she moved to Florida ten years ago and ever since she has been volunteering at the foundation and also with South Florida Rest (aka Canteen), an organization that hydrates firefighters and police officers while on call at emergency scenes. “We bring water, Gatorade, snacks and food to first responders who are at the scene of an accident, a fire, a SWAT call or wherever they need us,” she says. When she’s not making quilts or helping hydrate first responders, she’s sewing masks. Since the start of the Covid-19 pandemic she made more than 9,300 masks and donated them to police and fire agencies, hospitals and others all over the country with patriotic or specific meaningful fabrics.

BETHANY KEIME is a self-proclaimed heart warrior from Cutler Bay. At 17 years of age, the Florida native was a senior in high school with a promising dance career and her whole life in front of her, when she was diagnosed with the number one killer on school campuses and leading killer of student athletes: hypertrophic cardiomyopathy. Her life changed forever when she fatefully learned that hers would be a lifetime of medication, testing, and treatments, including having a defibrillator implanted into her chest. Seven years later, she came to terms with the diagnosis and decided to do something positive about it. She launched the HeartCharged Instagram page to spread awareness, built her own website, and created her own 501C-3 nonprofit, HeartCharged. She puts on community heart screenings, donates defibrillators, and speaks at schools. And she’s even helping to change the law. “We just got a law passed in Florida to get CPR and AED training for high school students, which can prevent death from sudden cardiac arrest,” Keime says. “Next year, we’re working on getting heart screenings for all kids in Florida. Many heart conditions have no recognizable symptoms. With screenings, deaths can be prevented

DREW ROGERS is the Operations Fire Chief at Marion County Fire Rescue (MCFR) in Ocala. A firefighter for 20 years, he’s made it his mission to inspire and mentor others who may be headed down the wrong path. “I joined the fire service from a little bit of shaky background,” Rogers says. “I wasn’t sure where I was going in life and at times, like a lot of kids, I made some bad choices, but becoming a firefighter changed my life, and I want to do that for others.” He’s been instrumental in operating the mentorship program at MCFR; he secured funding and support to build a 7,000 square foot gym to help cadets stay fit to pass their physical ability tests and for his crew to stay mentally and physically fit; and he works tirelessly with students at the fire career academy to help them find a career path they can stay on for life. “A lot of our chiefs are great at many things – analytics, spreadsheets, power point presentations. For me, the biggest thing I am good at and enjoy the most is building a culture of wellness and community to support our firefighter family in whatever ways possible.”

CGI Windows & Doors accepted nominations from April 6 through April 22 and four winners were selected by the CGI team. The grand prize winner will be selected through an online voting campaign beginning May 13 and ending on May 28. To learn more about the individual contest winners, and to vote for the grand prize winner, visit cgiwindows. com/heroes. The grand prize winner will be announced on June 1 on CGI’s social media channels. “These four Florida residents represent the definition of a community hero,” said Bob Keller, President of the Southeast Business Unit for PGT Innovations. “Their clear dedication to servant leadership, generosity, and compassion made them stand out among hundreds nominated across the state. Our team is honored to highlight their accomplishments and recognize them for the ways they are serving their communities.”

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THURSDAY, MAY 13, 2021

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MARK BASCH CONTRIBUTING WRITER

The shopping center operator is an indicator of the retail economy. For many years, CSX Corp.’s earnings reports have been a bellwether for the U.S. economy. The Jacksonville-based railroad is one of the first big companies to issue its reports every quarter, so its freight data and outlook offer advance clues to the economy’s direction. Now as the retail industry recovers from the COVID-19 pandemic, another Jacksonville-based company’s earnings are becoming an indicator of broad trends. Regency Centers Corp. operates 399 retail properties across the country, many of which are neighborhood shopping centers anchored by supermarkets. As Regency reported firstquarter earnings last week, company officials said more customers are visiting its properties as pandemic conditions

Regency had collected 62% of April rents a month after the end of the 2020 first quarter. Regency reported funds from operations (earnings excluding noncash charges) of 90 cents a share, down from 98 cents in the first quarter of 2020. However, the company increased its FFO forecast for the full year to $3.33 to $3.43 a share, up from its previous forecast of $2.96 to $3.14.

“After spending months at home facing restrictions on interaction, consumers have a new appreciation for the environment and convenience of our open-air neighborhood and community centers.”

Mortgage activity boosts Fidelity

LISA PALMER CEO, REGENCY CENTERS CORP.

improve, indicating a brighter retail outlook. “We’ve seen a continued trend toward easing tenant restrictions, which is especially impactful to our California properties,” CEO Lisa Palmer said May 7 in Regency’s quarterly conference call with analysts. “Some categories and geographies still continue to lag but overall, we are on an improving trajectory,” she said. “Foot traffic in our portfolio as a whole has recovered to 90% of 2019 levels in April while in some regions, it’s close

to 100%,” said Chief Operating Officer Jim Thompson. “The West region still lags on foot traffic and collections but is gradually catching up to the other regions and remains our greatest opportunity to drive future upside,” he said. While some people are concerned about the future of brick-and-mortar retailers, Palmer said the pandemic highlighted the attraction of its shopping centers. “We believe there are clear tail winds for our company and our sector as the pandemic has shined a spotlight on our

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business in a positive way,” she said. “After spending months at home facing restrictions on interaction, consumers have a new appreciation for the environment and convenience of our open-air neighborhood and community centers,” she said. Regency’s retail properties were 92.5% leased at the end of the first quarter. The company said it had collected 93% of first-quarter rents owed by its tenants as of May 3. In comparison, at the peak of pandemic-related shutdowns,

Fidelity National Financial Inc. also is a bellwether company, as the Jacksonville-based title insurer’s results reflect the state of the real estate industry. Fidelity said last week that first-quarter adjusted earnings from continuing operations more than doubled to $1.56 a share, from 73 cents the previous year. “We continue to benefit from low interest rates, driving strong (mortgage) origination demand and the continued rebound in commercial real estate activity,” President Mike Nolan said in Fidelity’s conference call May 7. Fidelity’s title insurance revenue rose 33% and total revenue nearly doubled to $3.1 billion, helped by investment gains.

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Regency’s Palmer sees ‘clear tail winds’

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mation Services Inc., or FIS, reported a slight gain in firstquarter earnings but increased its forecast for the full year. FIS, which was spun off from Fidelity National Financial, reported adjusted earnings rose by 2 cents a share in the first quarter to $1.30. However, the company raised its full-year forecast from $6.20 to $6.40 a share to a range of $6.35 to $6.55. “We are quickly becoming one of only eight companies in the S&P 500 with revenues approaching $14 billion, growing more than 7%, with an already high and expanding mid-40s EBITDA margins,” CEO Gary Norcross said in FIS’ conference call May 6. EBITDA is earnings before interest, taxes, depreciation and amortization. “With our strong start to the year, we expect accelerating organic revenue growth and strong earnings throughout 2021, giving us the confidence to raise our full year guidance,” Norcross said.

Black Knight earnings rise Mortgage technology company Black Knight Inc., another company spun off from Fidelity, reported strong gains in first-quarter earnings and also increased its forecast. Adjusted earnings rose by 9 cents a share to 56 cents and revenue jumped 20% to $349.7 million. The company increased its earnings forecast range for the full year from $2.11 to $2.22 a share to $2.16 to $2.24. Jacksonville-based Black Knight is the dominant com-

THURSDAY, MAY 13, 2021

pany in its field, providing processing services for 61% of all U.S. first mortgages as of March 31.

Rayonier AM looks to its biofuture Rayonier Advanced Materials Inc. announced a deal last month to sell its lumber and newsprint facilities to sharpen its focus on its core cellulose specialty fibers business. As the Jacksonville-based company reported earnings last week, it sharpened its focus further for investors, saying it hopes to use its plants as “biorefineries” that produce alternatives to petroBoynton leum-based products. “At the core of our manufacturing processes are our cellulose pulp products, but we know that much more can be done with these assets,” CEO Paul Boynton said in Rayonier AM’s conference call May 5. “These investments into our biofuture will add to our product diversity and our financial growth,” he said. Rayonier AM reported a first-quarter net loss of 43 cents a share, which it attributed mainly to noncash income tax charges. Ironically, lumber was the company’s most profitable business in the quarter due to surging prices, producing $61 million in operating income. That was more than the total operating income of $55 million.

File image

The Rayonier headquarters in Wildlight, the master-planned community in Nassau County.

Rayonier seeks Wildlight growth Rayonier Inc., which split up with Rayonier AM seven years ago, reported lower first-quarter earnings. The timber and real estate company had net income of 8 cents a share, down from adjusted earnings of 20 cents the previous year. Rayonier saw little residential real estate activity in its Wildlight community in Nassau County, where the company is headquartered. The company reported sales of only three residential lots in Wildlight in the first quarter. Chief Financial Officer Mark McHugh said Rayonier expects activity to pick up the rest of the year. He said the February announcement of a new Publix-anchored shopping center

in Wildlight is an indication of the development’s potential growth. “We believe that as this community continues to get more established, interest from builders will continue to grow,” he said.

Tiptree confident in Fortegra A week after pulling a planned initial public offering for subsidiary Fortegra Group Inc., Tiptree Inc. officials spoke briefly about it during its quarterly conference call May 6. “Although last week we decided to hold off on proceeding with the IPO, what has been made clear throughout this process that both 2020 and first quarter 2021 results demonstrate is the distinctly

attractive value of Fortegra’s business platforms,” Executive Chairman Michael Barnes said. Jacksonville-based specialty insurance company Fortegra is the major operating subsidiary of New York-based holding company Tiptree. The company said two months ago it hoped it could unlock value in Fortegra with the IPO. Barnes did not say if Tiptree will try the Fortegra IPO again. “We believe that Fortegra will ultimately be rewarded for the growth profile and durability of its model and we will continue to explore all available options to support Fortegra’s growth and achieve our stated objectives,” he said. MBASCH@ JAXDAILYRECORD.COM