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Wallace to succeed Mallot as president of JAXUSA
THE MATHIS REPORT
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SEE WALLACE, PAGE 2
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Downtown Investment Authority CEO will start new job Oct. 1 Downtown Investment Authority CEO Aundra Wallace will succeed Jerry Mallot as president of JAXUSA Partnership, the economic development division of JAX Chamber, starting Oct. 1. JAX Chamber made the announcement Tuesday of a move DIA Chairman Jim Bailey called “bittersweet.” “They couldn’t have hired a better person,” Bailey said. “It’s bittersweet because I’m glad he’s not leaving Jacksonville. His depth of knowledge is incredible and his connec-
tions are incredible. I’d really be concerned if he was leaving town.” Mallot will retire Sept. 1 after 24 years leading economic development at the chamber. “Through a very competitive process, Aundra emerged as the right person at the right time to lead our economic development at JAXUSA Partnership,” JAX Chamber President Daniel Davis said in a news release. “We have incredible momentum right now and Aundra will use his skills and relationships, both within Jacksonville and around the globe, to keep the momentum going and attract jobs to our
Connecticut firm buys The Concourse along Belfort Road.
region,” Davis said. JAXUSA Partnership’s role is to develop business and create jobs in Baker, Clay, Duval, Flagler, Nassau, Putnam and St. Johns counties. Wallace, 50, joined the DIA in 2013. His salary at the DIA is $196,245 as of June 1. “We have all the pieces in place and JAXUSA has done phenomenal work putting our community on the map for business,” Wallace said in a statement. “I look forward to getting started and working with all of our partners to keep the economy growing in Northeast Florida.”
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STAFF WRITER
Office park sells for $36.1 million
Connecticut-based Westport Capital Partners LLC bought The Concourse office park in Southside for $36.1 million. The real estate investment firm acquired the property from Rosemont Concourse Operating LLC, which paid $31.75 million for it in 2013. The deed was executed July 31 and recorded Tuesday with the Duval County Clerk of Courts. “The buyer and seller were both pleased with the transaction and it was refreshing to see that we had institutional money,” said Michael Harrell, senior vice president of CBRE Inc. in Jacksonville. The CBRE team of Harrell and Will Yowell, vice chairman with CBRE’s Capital Markets Institutional Properties in Atlanta, represented Rosemont in the deal. Harrell said Westport represented itself. Harrell said institutional investors typically invest in large properties, such as Flagler Center, but not always in smaller office properties. “This is all good news for Jacksonville,” Harrell said. The Concourse I, II and III buildings were developed
Aundra Wallace, 50, was named the new president of the JAXUSA Partnership, the economic development division of the JAX Chamber.
BY DAVID CAWTON
KAREN BRUNE MATHIS EDITOR
Judge recuses herself in Landing dispute Three days before a hearing on a motion to dismiss a dispute over The Jacksonville Landing, Circuit Judge Virginia Norton recused herself from presiding over the case. She did not state a reason. Jacksonville Landing Investments LLC filed a lawsuit alleging
the city failed to meet obligations under its management agreement. In response, the city filed a motion to dismiss JLI’s complaint. That hearing was set for Aug. 3 and has not been rescheduled. Circuit Judge Kevin Blazs is now assigned to the case. More at JaxDailyRecord.com
Norton
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