TUESDAY June 18, 2019
Public legal notices begin on page 3
jaxdailyrecord.com • 35 cents
Daily Record JACKSONVILLE
City reaches buyout deal with last Landing business
THE MATHIS REPORT
Daily Record JACKSONVILLE
BBVA will be paid $450,000 to leave by Oct. 28 in preparation to demolish the riverfront shopping center.
Daily Record Daily Record JACKSONVILLE
BY MIKE MENDENHALL STAFF WRITER
The city reached the final lease termination deal it needs to close the last business at The Jacksonville Landing as it prepares to demolish the shopping center. In the deal reached Wednesday, the city will pay Alabama-based BBVA $450,000 to buy out the remainder of its lease. The bank will vacate the Landing by Oct. 28. The buyout comes as Hooters, the Landing’s last restaurant, closed. On Monday, furniture and signage at the restaurant were removed. A sign on the door said it closed June 2. BBVA’s lease with Jacksonville Landing Investments LLC was scheduled to expire Jan. 31, 2021, and contained a renewal option extending through Jan. 31, 2024. The bank was paying $82,944 in annual rent, which would have increased to $86,400 on Feb. 1, 2021. The city inherited the original lease terms when it bought the Landing through a $15 million legal settlement with Jacksonville Landing Investments, a subsidiary of Sleiman Enterprises. Before the agreement with BBVA, the city reported that $871,333 was spent from $1.5 million the City Council allocated in March for lease buyouts and tenant relocation assistance. City Director of Public Affairs Nikki Kimbleton said May 31 the city did not anticipate any remaining assistance money after the BBVA agreement was reached. However, the $450,000 bank buyout leaves roughly $178,000 unspent. The legislation also reserved
JACKSONVILLE
Photos by Karen Brune Mathis
The BBVA bank branch is the last business open at The Jacksonville Landing. The bank will leave the riverfront shopping center by Oct. 28.
Hooters was the last restaurant open at the Landing. A sign on the door said it closed June 2.
$1.5 million to demolish the structure. The city received seven bids from contractors ranging from $978,000 to $2.77 million. With Hooters leaving, the city is making plans for a phased demo-
lition, leaving utilities and access for BBVA so the bank can continue operating through October. The city’s specifications for the demolition project state work can begin at the site 10 days after
a contractor is selected. MMENDENHALL@ JAXDAILYRECORD.COM @MIMENDENHALL (904) 356-2466
KAREN BRUNE MATHIS EDITOR
MedMen coming to Mandarin
Marijuana dispensary also developing stores in Five Points, Jacksonville Beach.
MedMen, which is working on sites in Five Points and Jacksonville Beach, also intends to open in Mandarin. The city is reviewing a permit for a $700,000 tenant build-out at the former Al’s Pizza at 11190 San Jose Blvd. The location is 5,312 square feet. Al’s Pizza owner Al Mansur sold the property in April to MedMen Enterprises through LCR 11190 San Jose LLC of Culver City, California. The city previously approved build-out for the MedMen medical marijuana treatment center dispensing facility at 1059 Park St. at Park and Lomax streets in Five Points. At Jacksonville Beach, the St. Johns River Water Management District is reviewing a permit for a new parking lot and stormwater pond at 308 S. Third St., the former 33 Star retail location. Plans show a 6,073-squarefoot MedMen location. SEE MATHIS, PAGE 2
Cypress Point Business Park sold Cushman & Wakefield said it arranged the sale of Cypress Point Business Park, an eight-building, 344,000-square-foot office property in Southside for $35.8 million. GBR Properties Inc. of Tulsa, Oklahoma, sold the property to Viking Partners LLC, based in Cincinnati. Cypress Point Business Park, at southeast Butler Boulevard and Philips Highway, was developed between 1999 and 2004 and is 88 percent leased to seven tenants that include Fanatics, U.S. Assure, Crowley Maritime, ADT and Selene Finance.
VOLUME 106, NO. 150 • ONE SECTION