Jacksonville Record & Observer 8/27/20 by Daily Record & Observer LLC

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Aug. 27-Sept. 2, 2020

Mathis Report: Medical retail planned for Town Center store PAGE 3

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Record & Observer THE PONTE VEDRA INN & CLUB’S

Daily’s parent buys block in LaVilla

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SUITE NEW LOOK

The $3.3 million deal includes the former Kartouche nightclub site.

JACKSONVILLE

Record & Observer BY KAREN BRUNE MATHIS EDITOR

JACKSONVILLE

It appears that Downtown could gain a Daily’s gas station and convenience store in LaVilla, not far from the Northbank end of the Acosta Bridge. First Coast Energy L.L.P. paid almost $3.3 million Aug. 21 for the 1.4-acre block bounded by Forsyth, Jefferson, Bay and Broad streets. First Coast Energy owns and operates 37 Daily’s stores across the state, according to its website. They sell Shell gasoline, and their Dash fast-casual cafes sell breakfast and lunch sandwiches and other items. Two deeds recorded Aug. 25 with the Duval County Clerk of Courts show that Jacksonvillebased First Coast Energy paid almost $2.4 million for five parcels that include the site of a closed bank drive-thru and $900,000 for the property where the Kartouche nightclub recently was demolished. Jake Gordon, CEO of Downtown Vision Inc., said Aug. 25 that he had a mixed reaction when the Kartouche was demolished, but realizes what Daily’s would bring Downtown, although he has not confirmed it will be a gas station and convenience store. “More amenities for Downtown is what Downtown needs,” he said. “We are always of a mind that the historical part of Downtown can continue but at the same time, Downtown is about progress.” First Coast Energy did not immediately comment about the purchase.

Record & Observer Photos provided by the Ponte Vedra Inn & Club

The resort’s Ocean golf course was shut down for a year for an $8 million renovation. The greens were lowered and now clubhouse diners can watch players putt on the No. 9 island green.

Resort adds 41 rooms and suites and refurbishes golf course a part of a more than $26M project. BY DAN MACDONALD CONTRIBUTING WRITER

hen construction began two years ago, the 92-year-old Ponte Vedra Inn & Club didn’t expect to be opening its new lodging space and golf course at 50% capacity. But then, few foresaw the impact of COVID-19. In early September, 41 new rooms and suites will be available

to guests as well as a renovated golf course. That will bring the resort to a total of 262 rooms and suites. The Ocean House and The Peyton House are an $18 million project, according to St. Johns County building records. Danis Building Construction Co. demolished and rebuilt oceanside lodging that dated back to the 1960s. The three-story buildings are SEE PONTE VEDRA, PAGE 6

What’s Trending: Porter House Mansion is sold PAGE 2 The Basch Report: Jay Stein sells stake in bankrupt retailer PAGE 4 The top 10 sales of the week in residential real estate PAGE 12

“This was a well-thought-out part of a master plan,” Craig Schoninger, director of sales and marketing for the Ponte Vedra Inn & Club, said of the project.

KMATHIS@JAXDAILYRECORD.COM @MATHISKB (904) 356-2466

REAL ESTATE

Uncertainty weighing on multifamily investors Concerns about rent collections. PAGE 10 VOLUME 3, NO. 13 • ONE SECTION

WHAT’S TRENDING

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JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER 27, 2020 THURSDAY, AUGUST

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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Jacksonville Daily Record and Jacksonville Record & Observer are a division of Observer Media Group Inc.

Established in 1912, the Financial News & Daily Record, now the Jacksonville Daily Record, is published Monday-Friday and is the Official Court Newspaper of the Circuit Court and publisher of public notices in Duval County.

Established in 1912, the Financial News & Daily Record, now the Jacksonville Daily Record, is published Monday-Friday and is the Official Court Newspaper of the Circuit JACKSONVILLE Court and publisher of public notices in Duval County.

Jacksonville Record & Observer is a free weekly business newspaper available in Downtown Jacksonville and key business nodes throughout Jacksonville. To find a Special to the Daily Record location near you, visit jaxdailyrecord.com/rack-locations.

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.

real estate, construction, law, companies, economic and industry trends and how local and state government affects business.

Editorial content focuses on news and trends, with a concentration on development, real estate, construction, law, companies, economic and industry trends and how local and state government affects business.

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The Porter House Mansion at 510 N. Julia St. is on the National Register of Historic Places. It was designed architect Henry with JohnaKlutho. Editorial content focuses onby news and trends, concentration on development,

REAL ESTATE

JWB buys Porter House Mansion Publisher / Matt Walsh Director of Advertising / Jay Lesowitz mwalsh@jaxdailyrecord.com

jlesowitz@jaxdailyrecord.com

and a basement. JWB Real Estate Capital bought Publisher Emeritus / James F. BaileyAug. Jr. 20, Advertising Coordinator / Codi Gildberg President Alex Sifakis said Aug. 20 another Downtown property jbailey@jaxdailyrecord.com adassist@jaxdailyrecord.com the structure will be renovated for the three-story Porter House Mansion Editorat / Karen lease as officeManager space to/aJanet single tenant 510 N.Brune Julia Mathis St. Legal Advertising Mohr kmathis@jaxdailyrecord.com on the top three floors. He estimates a Built as a private residence after the legal@jaxdailyrecord.com Managing / Monty $600,000 project. GreatEditor Fire of 1901, Zickuhr the structure most Legal Advertising Associate / Rhonda Fisher mzickuhr@jaxdailyrecord.com He said the group will save the recently was used by KBJ Architects rfisher@jaxdailyrecord.com Associate Legal Affairs Max Marbut to Network basement for restaurant use when the untilEditor it moved and sold /the property Administrator / Erik Wagner mmarbut@jaxdailyrecord.com market is ready. The grass lot to the a private investor in 2017. webadmin@jaxdailyrecord.com Staff Writer KatieEstate Garwood south will provide outdoor seating. JWB/Real Capital, through Court Typeset / Paula Steiner kgarwood@jaxdailyrecord.com “We are committed to revitalizing 510 N Julia LLC, paid $2.605 million foradmin@jaxdailyrecord.com Downtown,” Sifakis said. JWB already the 1.5-acre Property records Staff Writer / Mike block. Mendenhall Director of Circulation / Anne Shumate mmendenhall@jaxdailyrecord.com owns the historic Seminole and Fedand marketing materials show the subscriptions@jaxdailyrecord.com eral Reserve Bank buildings at 400 almost/ 16,000-square-foot building Staff Writer Scott Sailer / Tim Reagan ssailer@jaxdailyrecord.com and 424 N. Hogan St. comprises three stories of office spaceDistribution distribution@jaxdailyrecord.com

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PRESS RELEASE/INQUIRY/REPRINTS Jacksonville Bentley dealership now open Submit No a press release or editorial inquiry online banners, balloons or inflatable jaxdailyrecord.com/submit-news-release or email editorial@jaxdailyrecord.com. air dancers beckon buyers to JacksonArticle reprints are available at jaxdailyrecord.com ville’s Bentley dealership. Instead, a putting green is near the front door and a large lawn chess HOW TOset SUBSCRIBE is in front of the Maserati and Alfa Subscribe online or contact our subscription Romeo side at of jaxdailyrecord.com/subscribe the South Jacksonville department by phone at (877) 231-8834 or email subscriptions@jaxdailyrecord.com development.

Inside, natural lighting, soft music, PRICES Photo by Karen Brune Mathis comfortable seating and quiet offices Jacksonville Bentley owner Mario Muronly ..........$66 per year 2 years ................................... surround the showroom $154 of Bentley mod-Thursday gado and a Bentley Continental 1 yearels ........................................$89 that start at more than $200,000. Single copy ......................35 centsGT Convertible with a $280,690 sticker price. 6 months .................................$55 “Hopefully when you walk through here, you feel good about it,” said owner 49,000-square-foot dealership on Mario Murgado during aHOW visit Aug. 14. ADVERTISE TO property he bought. Miami-based Murgado Automotive Display & Digital Advertising: CallBentley Jay Lesowitz at (904) 356-2466 email Murgado expects tooropen the Group Inc. quietly opened the jlesowitz@jaxdailyrecord.com Maserati and Alfa Romeo side of the dealership June 18 at 7137 Bonneval dealership in September. He said the Road. Legal Advertising: Submit public$20 notices via email to legal@jaxdailyrecord.com employee count is 25 and will reach Murgado said he invested about 70. million in the project, a two-story,

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PRESS RELEASE/INQUIRY/REPRINTS Submit a press release or editorial inquiry online jaxdailyrecord.com/submit-news-release or email editorial@jaxdailyrecord.com. Article reprints are available at jaxdailyrecord.com

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Baptist Health buying land in St. Johns County POSTAL INFORMATION

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which would include hospital uses. Baptist Health confirmed Aug. 24 it Jacksonville Daily Record (USPS 190-620) is published daily except Saturday, It awaits approval by the St. Johns is under contract to buy 23 acres at Sunday & legal holidays (New Year’s Day, Memorial Day, Independence Day, Labor Interstate 95 and State Road 207 in St. County Board of County CommissionDay, Thanksgiving and Christmas) by Daily Record & Observer LLC, 10 N. Newnan ers. Johns County, pending the approval St., Jacksonville, FL 32202. Periodicals postage paid at Jacksonville, Florida and The proposed 37-acre Pavilion at of its rezoning, spokeswoman Wesley at additional mailing offices. Under no circumstances will any news or records of 207 is the site of the St. Augustine Flea Roberts said in an email. Duval County be suppressed for anyone. Information in this newspaper is for our Market. Baptist’s property is part of it. The 23 acres would be rezoned from subscribers only and must not be used by anyone for publication purposes. The flea market, which began opercommercial intensive and commercial ating in 1985, announced Aug. 20 that highway tourist to planned unit develPOSTMASTER its last day is Sept. 27. opment to allow for 525,000 square feet of office and commercial use, Send address changes to Jacksonville Daily Record, P.O. Box 15456, North Hollywood, CA, 91615-9965

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The Official Newspaper for The Official Newspaper The Official Court thethe U.S. Bankruptcy of The Jacksonville Bar Newspaper of Duval a shortcut There’s to staying in loop Court Association, Nov. 21, 1926. for the Middle District of County by Order of the Don’tJuly miss a story. Subscribe to the Daily Brief and we’ll send our Florida, Jan. 4, 1947. Circuit Court, 7, 1961. top news to you Monday-Friday morning via email. To sign up, visit JaxDailyRecord.comAFFILIATIONS and look for the “Sign up” box, enter your email and you’ll be set. Florida Press Association

Jacksonville Daily Record (USPS 190-620) is published daily except Saturday, Sunday & legal holidays (New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas) by Daily Record & Observer LLC, 10 N. Newnan St., Jacksonville, FL 32202. Periodicals postage paid at Jacksonville, Florida and at additional mailing offices. Under no circumstances will any news or records of Duval County be suppressed for anyone. Information in this newspaper is for our subscribers only and must not be used by anyone for publication purposes.

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THURSDAY, AUGUST 27, 2020

Ashco buys former Thomasville furniture store

KAREN BRUNE MATHIS EDITOR

The shopping center company is offering medical retail space at the free-standing Town Center building. Ashco Inc. bought the former Thomasville furniture store near The Markets at Town Center for conversion into the Town Center Medical Plaza. Ashcenter at St. Johns LLC paid almost $2.3 million for the 13,200-square-foot store Aug. 19. The 1.27-acre property is at 4853 Big Island Drive. Ashco said the medical retail space will be available in spaces of about 2,200 square feet to the entire building. Ashco is led by president Edward Ashurian, who manages the LLC that bought the property. Jacksonville-based Ashco bought the property from DH Jax L.L.C., an investor group run by The Chambers Group of Charlotte, North Carolina. The store was built in 2007. Ashco said the plaza is “medical retail transformed, capturing the current demand for a Class A medical and retail experience.” The Thomasville store closed after parent company Heritage Home Group LLC, based in High Point, North Carolina, filed in July 2018 for Chapter 11 bankruptcy reorganization to pay down $280 million in debt. Ashco owns neighborhood shopping centers around Jacksonville, including the San Marco Train Station and the San Marco Union Hall. Ashco Inc. has been familyowned and operated for more than 40 years in Jacksonville, according to its website. The Ash family has been developing and managing retail centers for over three decades. Jacksonville-based Cantrell & Morgan Inc. listed the Thomasville property and rep-

Special to the Daily Record

A rendering of the former Thomasville furniture store at 4853 Big Island Drive.

resented the seller exclusively. Cantrell & Morgan co-CEO Chris Morgan said the group was “happy to have an opportunity to facilitate the transaction with Ashco.”

Rooker starts on speculative warehouse

Atlanta-based Rooker started design and permitting for another speculative building at Perimeter West Industrial Park in Northwest Jacksonville. Rooker Vice President Cason Bufe said by email Aug. 10 no tenants are lined up for the estimated $7 million, 168,000-square-foot building in the park at northeast Interstate 295 and Pritchard Road. “We have not set dates yet for construction commencement or completion, but I expect that it will be a 2021 completion date,” Bufe said. The new spec building is designed to accommodate up to four tenants. “Multiple spec industrial buildings in the Jacksonville market have leased up over the last 9 months. The market for Class-A industrial space has tightened significantly over that time,” Bufe said in an email Aug. 11. As of the second quarter, area industrial vacancy rates averaged 3.9% to 5.8% Bufe said Rooker has no leases to announce for the 155,820-square-foot spec building it completed at Perimeter West early this year. “But, we have good leasing activity on it,” he said. That structure, at 4345 Perimeter Industrial Parkway N., is available for lease or purchase and is next to the new planned spec building. It is designed for warehousing, distribution and light manufacturing and can

accommodate tenants as small as 45,150 square feet. CEO John Rooker said in April 2019 the company had wanted to invest in the Jacksonville market for some time. “Jacksonville is experiencing strong population growth and job growth. We expect that our investments in Perimeter West will result in the creation of new jobs and an expanded tax base, which will benefit the local Jacksonville community,” he said in a news release. He said then that Perimeter West is a central location in the market’s largest submarket of West Jacksonville. Rooker bought the remaining 39 acres of undeveloped land within Perimeter West Industrial Park in October 2018. The acquisition included three industrial-zoned parcels and one retail-zoned land parcel. In addition to the recently completed spec building, Rooker has two more industrial-zoned parcels available, one for up to 250,000 square feet and another for up to 218,000 square feet. The 168,000-squarebuilding will be on the parcel originally marketed for a 250,000-square-foot buildto-suit project just north of the Cardinal Health building. Volkswagen, Cardinal Health and UniFirst occupy properties within Perimeter West Industrial Park that are owned by other entities. UniFirst owns its site. Rooker is a full-service real estate development, design and construction management firm specializing in the industrial, office and government segments.

Pritchard Road Tru by Hilton site sold In November 2019, Atlantabased Rooker sold 6.2 acres for retail development to a part-

nership of Skinner Bros. Realty and The Silverfield Group, both based in Jacksonville. That property, which fronts Pritchard Road, is being developed for a Tru by Hilton hotel with land remaining for uses such as a gas station-convenience store and a fast-food restaurant. The city is reviewing final engineering plans for the Tru by Hilton hotel at 4142 Perimeter Industrial Parkway W., at the corner of Pritchard Road and I-295. The four-story, 82-room, 38,575-square-foot hotel is planned on 1.8 acres. Leed Silverfield said Aug. 12 his group completed the sale of the property to the hotel developer. He said the retail site is graded with utilities, an access road and curb cut. Silverfield said Aug. 17 the group is under contract to sell the remaining 4.3 acres to a national convenience store/gas station chain, but said he could not disclose the name.

Biggie’s Pizza opening near Tinseltown

Biggie’s Pizza intends to open its third area restaurant this month at 4160-2 Southside Blvd. to replace part of the Tommy’s Brick Oven Pizza. “Tommy’s Pizza was a local favorite for many years, so we’re happy to welcome Biggie’s to carry the torch,” said Blake Hakimian, senior vice president of leasing for landlord Hakimian Holdings Inc. Hakimian said Biggie’s Pizza hopes to be open by the end of August. Biggie’s will open in 1,400 square feet in the Gates of Tinseltown shopping center. That is part of the former Tommy’s. Another 1,400 square

Wingstop to Cobblestone: The city is reviewing a permit application for Wingstop to build-out space in Cobblestone Crossing at a cost of $250,000. Adkins Construction Co. LLC is the contractor for the renovation of 1,205 square feet formerly leased by Taco Del Mar at the 2771 Monument Road shopping center. Larry’s Giant Subs to Roosevelt: The city is reviewing civil engineering plans for construction of a a Larry’s Giant Subs restaurant at 5857 Roosevelt Blvd. EnVision Design + Engineering LLC is the civil engineer. The 2,400-square-foot restaurant with a drivethru is planned on 0.43 acres. Ember & Iron to St. Johns County: St. Johns County issued a permit for interior build-out for Ember & Iron restaurant at 60 Shops Blvd., Suite 80, in the Shoppes of St. Johns Parkway in Saint Johns. The 5,241-squarefoot project, along with outdoor space, is a $776,412 project. Culver’s at the Fountains: St. Johns County issued a permit for Culver’s to build a 4,519-square-foot restaurant and drivethru at 45 Fountains Way in the Fountains at St. Johns in Saint Johns at a cost of $1.5 million.

rfeet is available for lease, which Hakimian said Biggie’s might expand into later. The first two Biggie’s Pizza shops are in Jacksonville Beach and in the Five Points area of Riverside. KMATHIS@ JAXDAILYRECORD.COM @MATHISKB (904) 356-2466

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THE MATHIS REPORT

RESTAURANT NOTES

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, AUGUST 27, 2020

JaxDailyRecord.com

MARK BASCH CONTRIBUTING WRITER

Former company chairman sold shares after Chapter 11 filing. In the days after Stein Mart Inc. filed for Chapter 11 bankruptcy, Jay Stein sold off his entire 35.7% stake in the Jacksonville-based fashion retailer, according to a Securities and Exchange Commission filing last week. Stein and his family had about 17.3 million Stein Mart shares, which were sold in the open market at prices between 11 cents and 18 cents each from Aug. 14 to Aug. 18, according to the filing. Stein Mart filed its Chapter 11 petition Aug. 12 in U.S. Bankruptcy Court for the Middle District of Florida Jacksonville Division. The company intends to close its 281 stores and go out of business and said its stock likely Stein will have no value, but the stock continued to trade on the Nasdaq Capital Market last week. Nasdaq said it would delist the stock Aug. 24, but the stock was listed on the Pink OTC Markets this week under the ticker “SMRTQ.” Stein, grandson of the company’s founder, had maintained a significant percentage of the company’s stock since Stein Mart’s initial public offering in 1992. Stein retired as CEO of the company for the second time in 2016 and retired as chairman of the board in June, but he remained on the board of directors when the company filed its Chapter 11 petition. The SEC filing did not say why Stein sold off his shares, but investors in bankrupt companies commonly sell off stock

Photo by Karen Brune Mathis

Jacksonville-based Stein Mart filed for Chapter 11 bankruptcy protection Aug. 12 and is closing all of its stores.

to recognize capital losses on their holdings. Other Stein Mart insiders also sold off shares after the Chapter 11 filing, according to SEC documents. CEO Hunt Hawkins sold about 385,000 shares, leaving him Hawkins with 66,667 restricted shares, SEC filings show. Stein Mart’s most recent proxy statement showed Hawkins with more than 1 million shares, or 2.1% of the stock. But that included unexercised options to buy 631,631 shares.

Big sales gains at Home Depot Home Depot Inc.’s secondquarter sales and earnings jumped substantially, as expected, with homeowners locked in during the COVID-19 pandemic taking on do-ityourself projects. However, Home Depot also said its professional contractor division, consisting largely of a Jacksonville-based company it acquired five years ago, also saw a big jump in sales. Atlanta-based Home Depot said total sales rose 23.4% to $38.1 billion, with earnings per share growing by 26.8% to $4.02. The biggest gains came in sales to DIY customers but it also saw strong sales growth in its Home Depot Pro division, said Executive Vice President of Merchandising Ted Decker,

according to a transcript of its quarterly conference call posted by the company. Home Depot Pro was created in 2018 and grew out of the former business of Interline Brands, which Home Depot acquired for $1.625 billion in 2015. Jacksonville-based Interline sold products to maintenance, repair and operations professionals. “Sales to our Pro customers accelerated meaningfully compared to the first quarter, and grew double-digits compared to the second quarter of last year,” Decker said. Much of that strength came from smaller contractors, he said. But Bill Lennie, executive vice president for outside sales and service, said the company also increased sales to larger contractors. “The high-spend Pro also continued to rebound, and I would see that as being an outcome of permitting and job inspections coming back online,” Lennie said. “There are areas where homeowners are becoming more comfortable with having Pros and service providers in their homes,” he said. The Home Depot executives said the company would not break out specific data on sales to DIY or Pro customers.

Regency Centers downgraded Compass Point analyst Floris van Dijkum last week downgraded his rating on Jacksonville-based Regency Centers Corp. from “buy” to “neutral” while upgrading

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Smith & Wesson spinoff complete Four years after acquiring a Jacksonville company to expand beyond firearms, Smith & Wesson Brands Inc. is a gun company again. Smith & Wesson on Aug. 24 completed the spinoff of its outdoor products accessories business into a separate public company called American Outdoor Brands Inc. Four years ago, the iconic gun manufacturer acquired Jacksonville-based Ultimate Survival Technologies as part of its plan to diversify its business. It also changed its name to American Outdoor Brands. The company last year closed the former UST facility in Jacksonville and later in 2019, it announced plans to split up the businesses. In the spinoff, each Smith & Wesson stockholder received one share of American Outdoor for every four shares of Smith & Wesson they held. Smith & Wesson trades under the ticker “SWBI” while American Outdoor trades under “AOUT.” MBASCH@ JAXDAILYRECORD.COM

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Big spending on political advertising will be a boost for televisions stations, which have been dealing with reduced demand for general ads during COVID-19 lockdowns. Besides the windfall in political dollars, Tegna Inc. expects to benefit from another post-lockdown trend: the resumption of major sports programming. “As live sports return this fall, we’re going to benefit from a large number of unusual events that we would not normally see in the back half of the year that have been rescheduled from the second quarter,” CEO David Lougee said in Tegna’s quarterly conference call, according to a transcript posted by the company. Tegna operates 63 stations in 51 markets, including Jacksonville NBC affiliate WTLV TV-12 and ABC affiliate WJXX TV-25. “Our strong and large portfolio of NBC stations will now benefit, for instance, from the Indianapolis 500 family,” Lougee said. “We’ll have the U.S. Open Golf Tournament and the Kentucky Derby taking place in August and September. And then the Stanley Cup playoffs in September and possibly into early October.” Tegna’s ABC stations are benefiting from the NBA play-

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another company that operates shopping centers, Kite Realty Group Trust. “Our rating change is a tactical valuation call as we expect some level of mean reversion between these two strip owners,” van Dijkum said in his research note. He said Regency’s stock was down 32% for the year, but that has outperformed the overall strip shopping center sector, which has lost 41%. “We believe Regency deserves to trade at a relative premium to sector peers due to its strong balance sheet, high quality grocery anchored focus, and deep management bench. Yet its current 19% relative historical net asset value spread to Kite is abnormally wide,” van Dijkum said. He lowered his price target for Regency from $50 to $45, with the stock trading in the low $40s recently.

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THE BASCH REPORT

Jay Stein sells stake in bankrupt Stein Mart

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

JaxDailyRecord.com

THURSDAY, AUGUST 27, 2020

BY SCOTT SAILER • Staff Writer

Here are the top 10 commercial real estate sales in Northeast Florida, comprising Clay, Duval and St. Johns counties. The sales were recorded Aug. 17-21.

File image

Two buildings at 8151 Blanding Blvd., which include a Best Buy store, sold for $10.85 million.

DUVAL

ST. JOHNS

DUVAL

$10,850,000

$7,926,000

$2,605,000

$2,284,594

$2,200,000

8151 Blanding Blvd., Jacksonville

Silverleaf Village Drive, Saint Johns

510 N. Julia St. and West Ashley Street, Jacksonville

4853 Big Island Drive, Jacksonville

139 Eastport Road, Jacksonville

Type: Commercial retail Parcel size: 9.22 acres Building size: Two buildings totaling 98,545 square feet Buyer: G Rack Fields LLC Seller: Jags Realty Associates LLC Previous sale: $8,000,000 in 2011

Type: 106 residential lots in SilverLeaf Village Parcel size: Not available Buyer: D.R. Horton Inc.Jacksonville Seller: Land Planners Development II Inc.

Type: Thomas Porter Mansion office Parcel size: 1.48 acres Building size: 16,000 square feet Buyer: 510 N Julia LLC Seller: Porter House LLC and LPS Land Holdings LLC Previous sale: $1,387,500 in 2017

Type: Retail Parcel size: 1.27 acres Building size: 13,270 square feet Buyer: Ashcenter at St Johns LLC Seller: DH Jax LLC

Type: Industrial open storage Parcel size: 11.47 acres Buyer: Northeast Florida Tree Farm Inc. Seller: Jaxville Eastport LLC Previous sale: $150,000 in 1985

ST. JOHNS

DUVAL

ST. JOHNS

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$2,025,000

$2,000,000

$1,825,000

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10405 103rd St., Jacksonville

105-121 Florida A1A Beach Blvd., St. Augustine

11250 Business Park Blvd., Jacksonville

Type: 26 residential lots in Worthington Estates Phases III & IV Parcel size: Not available Buyer: Richmond American Homes of Florida LP Seller: Mill Creek Plantation North LLC

Type: Undeveloped commercial Parcel size: 6.79 acres Buyer: Coastal Regions Northside Two LLC Seller: Old No. 1 Partners LLC

Type: Family Dollar Parcel size: 0.91 acres Building size: 8,320 square feet Buyer: FD 103rd Street LP Seller: TRC Magnolia LLC

Type: Commercial Parcel size: 0.61 acres Building size: 6,300 square feet Buyer: Destination A1A LLC Seller: Which Way is the Beach LLC Previous sale: $793,000 in 2014

Type: EquipmentShare Parcel size: 2.11 acres Building size: Two buildings totaling 3,930 square feet Buyer: EquipmentShare.com Inc. Seller: 11250 LLC Previous sale: $250,000 in 2008

COMMERCIAL REAL ESTATE

Top commercial sales of the week

GRAND OPENING

Celebration

Join us as we celebrate the Grand Opening of Taylor Morrison’s beautiful new townhome community, Annie’s Walk. Be among the first to tour our new model townhomes, plus enter for a chance to win a $100 gift card and ask about our limited time Grand Opening incentives!*

1,116 – 1,555 sq. ft. | 2 – 3 Bed | 2.5 Bath 0-1 Car Garage | Priced from the high $100s

Planned Amenities: • Resort-style pool with cabana • Tot lot and small dog park

• Mail kiosk at amenity campus • Sidewalks throughout

Location:

Dates:

13122 Annie’s Walk Drive Jacksonville, Florida 32218

Saturday, Sep. 19 | Noon–6pm Sunday, Sep. 20 | Noon–6pm

*NO PURCHASE NECESSARY TO ENTER OR WIN. PURCHASE DOES NOT IMPROVE CHANCE OF WINNING. Eligible Entrants must register at the Annie’s Walk sales model as of 12pm - 6pm on 9/19/20 or 12pm - 6pm on 9/20/20 (“Promotion Period”) to be eligible to enter the drawing for a chance to win (each participant, an “Eligible Entrant”) a total of one American Express® gift card. American Express® is the registered mark of the respective owner with all rights reserved and is not a participant in or sponsor, which Prize remains subject to America Express’s® own terms and conditions for card holders. Need not be present at time of drawing in order to win. Drawing is open to U.S. Legal Residents only who are at least 21 at time of entry. Winner will be randomly selected by 9/30/20 from those who registered during the Promotion Period. If not present, Potential Winner has forty-eight hours to respond to Sponsor’s voicemail or email notice or an alternative Winner will be randomly selected from all other Eligible Entrants. Odds of winning dependent on total number of entries. Not responsible for lost, stolen or expired cards. No cash equivalent or substitutions. Taxes and purchases greater than the value of the Prize are the sole responsibility of Winner. Complete official rules available at event. All information (including, but not limited to prices, views, availability, school assignments and ratings, incentives, floor plans, site plans, features, standards and options, assessments and fees, planned amenities, programs, conceptual artists’ renderings, tax rates and community development plans) is not guaranteed and remains subject to change, or delay without notice. Square footage and dimensions are estimated and may vary in actual construction. As-Built Condition will control. Community improvements, recreational features and amenities described are based upon current development plans which are subject to change and under no obligation to be completed. Prices may not include lot premiums, upgrades and options. Photos are for illustration only and do not necessarily represent actual community. Images do not reflect a racial or ethnic preference. This is not an offering in any state where prohibited or otherwise restricted by law. Please see a Taylor Morrison Community Sales Manager, an Internet Home Consultant or visit www.taylormorrison.com for additional information. © September 2020, AVH North Florida, LLC, Avatar Properties Inc. & Taylor Morrison of Florida, Inc. CBC1254089, CRC1332128. All rights reserved.07/31/20 2385

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THURSDAY, AUGUST 27, 2020

JaxDailyRecord.com

Photos provided by the Ponte Vedra Inn & Club

Danis Building Construction Co. demolished and rebuilt The Peyton House and The Ocean House that dated back to the 1960s as part of an $18 million project at the Ponte Vedra Inn & Club.

Ponte Vedra: Resort open amid pandemic CONTINUED FROM PAGE 1

at 239 and 245 Ponte Vedra Blvd. next to the property’s Surf Club and are 15,757 and 18,002 square feet, respectively. Rooms are 500 square feet and two-bedroom suites with ocean views and complete kitchens are 1,000 square feet. The two-bedroom suite costs $1,300 a night in season (March 1-Oct. 31) and $1,100 the rest of the year. The inn’s original rooms also were refurbished when the resort was shut down in the spring. The family pool has new slides, fountains and a zero-entry area. The lap pool remains as before. Currently, pool occupancy is limited to 75 persons. “This was a well-thought-out part of a master plan,” said Craig Schoninger, director of sales and marketing for the Ponte Vedra Inn & Club. “What does the future look like for the property based on the needs of our guests and membership? All the while protecting our legacy and history while retaining our relevance and being modern.” The resort’s Ocean golf course was shut down for a year for an $8 million renovation. New sod was planted and the greens have been lowered by an average of 3 feet. Lowering the greens allows for different playing strategies, said Jim Howard, director of golf. Another benefit is that clubhouse diners can watch players putt on the lower No. 9 island green. The outside space between the first and ninth holes was enlarged to better accommodate events. The course plays to a par 71,

The Ponte Vedra Inn & Club added a zero entry area, fountains and slides to its family pool.

because the 10th hole, formerly a par 4, is now a par 3 and has been moved to make room for an expanded practice and teaching area. The resort plans to operate at 50% capacity in September.

While Schoninger expects business to be down at least 50% this year, the shutdown did make construction easier when the resort was closed in the spring. Since reopening in June, nearly all furloughed employees have

Robert A. Cole

been brought back to work, Schoninger said. He said business has been steady. “The leisure side of the business rebounded rather quickly when we reopened. People want-

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ed to get out,” Schoninger said. Event business has been hit hard with the majority of bookings being canceled or postponed. There has been some wedding business, but they have been sitdown affairs to comply with dis-

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tancing recommendations, he said. All employees start the workday with a mandatory temperature test. After passing, employees must wear a colored wrist band designating that they are cleared to work. The band color changes daily. Employees are masked and social distancing is in effect. Guests are encouraged, but not required, to wear masks when in common areas. Other accommodations for the virus include room service being left at the guest’s door rather than being delivered into the room. There are no magazines in rooms. Instead, guests have access to the Press Reader app and can choose from 10,000 publications while on property. The Tavern bar and Surf Deck Grille are closed, while the Seahorse Grille and Surf Club Patio are open. When guests check out, the room remains vacant for a day and is thoroughly cleaned before the next guest arrives. The campus-style layout of the resort is an advantage, Schoninger said. Guests are able to social distance in common areas and there are no crowded elevators. Many of the resort’s activities are outside – golf, tennis, the beach. The resort’s spa and gym are operating by appointment only. Currently, the spa is offering massages, facials, manicures, pedicures and hair services. The spa pool and dining are open, but the saunas are not. To prepare for the opening, besides print and digital advertising, the resort is contacting past and repeat customers inviting them to book a vacation.

THURSDAY, AUGUST 27, 2020

Photos provided by the Ponte Vedra Inn & Club

The parlor of a one-bedroom superior oceanfront suite in Ocean House. The same suite is available in the Peyton House and all suites have an optional second bedroom.

“The leisure side of the business rebounded rather quickly when we reopened. People wanted to get out.” CRAIG SCHONINGER, DIRECTOR OF SALES AND MARKETING FOR THE PONTE VEDRA INN & CLUB A superior luxury king room available in either Peyton or Ocean House.

DERMATOLOGY SOUTHEAST Announces Dr. Markiza Cooper will be Serving the Jacksonville and Surrounding Communities Beginning September 2020.

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THURSDAY, AUGUST 27, 2020

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THE MARBUT REPORT

JBA golf tournament Sept. 30 at Deerwood

MAX MARBUT ASSOCIATE EDITOR

The annual event will tee off with a limited field and social distancing.

distanced boxed lunch and ends with the equally socially distanced awards reception. The captain’s choice shotgun start will tee off at 1 p.m. Registration is $175 per player or $600 for a foursome. Sponsors to date are Ameris Bank, Dex Imaging, Arcadia Settlements Group, Dixon Hughes Goodman, MemberBenefits, Mullholland Investigation and Computer Forensics, Orange Legal, Florida Lawyers Mutual Insurance Co., Joytel, CH Mediation, BVI Business Valuation Inc. and Charles Vann Consulting. Visit jaxbar.org to register. Email cshoup@jaxbar.org for sponsorship opportunities.

with Standard 316. Accordingly, the Rule 13(a)(2) hearing is cancelled in accordance with Rule 20(d). The Florida Coastal School of Law remains an approved law school.” That means Florida Coastal representatives are not required to appear before the Council at its meeting in May in Chicago, said Florida Coastal Dean Peter Goplerud. “We are pleased that the Council of the Section of Legal Education and Admissions to the Bar of the ABA has determined that we are in compliance with its Bar pass standard. This is welcome and expected news as we embark on a new school year at Coastal Law,” Goplerud said Aug. 24.

With adaptations for the COVID-19 pandemic’s social distancing, the Jacksonville Bar Florida Coastal Association’s annual golf tourin compliance with Marshall Dennehey nament will be played Sept. 30 adds associates ABA standards at Deerwood Country Club. At its Aug. 13-14 meeting, Marshall Dennehey WarWhen the pandemic shutthe Council of the Section of ner Coleman & Goggin added down began in March, the Legal Education and AdmisKathleen Carlson and Avery association transitioned its sions to the Bar of the AmeriSander as associates in the law board meetings, committee can Bar Association considered firm’s Jacksonville office. meetings, CLE programs and the status of Florida Coastal Carlson works in the Casuother traditional functions to School of Law regarding its alty Department, where she the virtual environment, but alleged noncompliance with litigates autoZoom won’t work for the golf Standard 316, the admissions mobile liabiltournament. and academic performance ity, uninsured/ In previous years, as many as standards required for accredunderinsured 82 JBA members participated, ited law schools. motorist and but the field this year will be After the meeting, the coungeneral liabillimited to 60 entrants because cil released a statement: ity matters. each player will have a golf “Following consideration of Carlson is a cart and that’s how many are the record in the matter and the Carlson dual graduate available at Deerwood, said JBA of the UniExecutive Director Craig Shoup. Law School’s response to the Council’s May 2020 Decision versity of Florida, receiving a He said about half of the Letter, the Council concluded bachelor’s degree and J.D. from entries were reserved as of that the information provided the university. Aug. 25. by the Law School is sufficient Sander is a member of the The event begins at noon to demonstrate compliance firm’s Professional Liability withTRAILMARK practice and a socially TRMK-20001 AD__JACKSONVILLE DAILY RECORD__10.375x8__AUGUST2020.qxp_Layout 1 8/21/20 2:29 PM

Department. Most recently, she was a litigation attorney with the St. Johns River Water Management District and State Attorney’s Office for the 4th Judicial Circuit. Sander has tried numerous jury trials to verdict and has assisted in litigating cases before Florida’s Sander Division of Administrative Hearings. She is a member of the Jacksonville Bar Association, the Jacksonville Women Lawyers Association and the Chester Bedell Inn of Court. Sander is a graduate of Principia College and received a J.D. from Florida Coastal School of Law.

Bar exam now scheduled Oct. 13 The Florida Bar exam that was rescheduled Aug. 26 by the state Supreme Court will be administered online Oct. 13. The July Bar exam was rescheduled to Aug. 19 and intended to be available online. However, “It was determined that administering a secure and reliable remote Bar examination in August was not technically feasible,” said the Florida Board of Bar Examiners in a statement released Aug. 16. After the Aug. 19 date was cancelled, the state Supreme Court established Aug. 24 a supervised practice program that 1will let some applicants Page

for the August 2020 Bar exam work under the supervision of a licensed attorney during the pandemic. The temporary program is needed because the online testing system developed to adapt the Bar exam process to COVID-19 pandemic conditions failed, causing the delay. “We acknowledge and accept the criticism that has been directed at the Court and the Board of Bar Examiners. Our inability to offer the Bar examination in August was a failure. We apologize for that failure,” said Chief Justice Charles Canady in a statement released Aug. 19 by the court. The Florida Board of Bar Examiners plans to establish the supervised practice program by the end of August. The program will last until 30 days after the results of the February 2021 Bar exam are released. Canady said the Court and the Bar Examiners will take steps to improve their communications about the Bar exam and to make sure there are backup plans for future uncertainties caused by the pandemic. “In particular, we assure you that we will put in place alternative plans so that, one way or another, there will be an October administration of the Bar exam,” Canady said. Visit https://www.floridasupremecourt.org/content/ download/643402/7307150/ AOSC20-80.pdf to view the court order. MMARBUT@ JAXDAILYRECORD.COM

Welcome to the Neighborhood NEW ST. JOHNS COUNTY HOMES

I-95 | EXIT 323 | 10 MINUTES FROM WORLD GOLF VILLAGE | 805 TRAILMARK DRIVE | ST. AUGUSTINE , FLORIDA Site plans, community maps, photos and depictions are for illustration purposes only, are conceptual in nature, and should not be relied upon. GreenPointe Communities, LLC reserves the right to make changes to the foregoing at any time without notice. Home design, pricing, terms and oﬀers are subject to change. See Home Builders’ Sales Consultant for details.

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THURSDAY, AUGUST 27, 2020

We’ll pay up to Sambasivam

Boucher

Barefield

Carney

Arias

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Feldman

Hilburn

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Scaffe

PEOPLE ON THE MOVE Promotions, hirings and happenings for business people in Northeast Florida. Send items to ssailer@jaxdailyrecord.com VyStar Credit Union hired Vasu Sambasivam as a senior vice president and promoted William Barefield to senior vice president, IT service delivery. Sambasivam oversees the digital engineering, software development and enterprise architecture teams. He spent 25 years in IT at organizations such as Goldman Sachs, Raymond James Financial and Zions Bancorporation. Barefield is responsible for managing and delivering VyStar’s technology and business plan initiatives to expand services available to members. He has more than 25 years of experience in information technology. First Coast No More Homeless Pets appointed David Arias as chief development officer. He will work with donors and guide fundraising, volunteer services and communications. Arias most recently was executive director of the Shelby Humane Society in Alabama. The Boys & Girls Clubs of Northeast Florida board of governors extended the contract of CEO Paul Martinez for five years. Martinez will continue to lead the organization through 2026. He joined as CEO in 2015, expanded the organization’s reach from 13 clubs to 38 clubs, opened the Citi Teen Center in Springfield, and started Camp Deep Pond. Hale Wise Jr. joined Intrepid Private Wealth as an associate research analyst to focus on high-yield fixed income investment research. Wise recently graduated from the University of Georgia with a Bachelor of Science degree in economics. The Clay County Board of County Commissioners voted to begin contract negotiations with Heather Boucher as the next Clay County Commission auditor. Boucher was

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chosen from three finalists interviewed in a public forum Aug. 14. Her start date is to be determined. Boucher served as a senior auditor with CSX for more than five years. Before that, she was a senior internal auditor for EverBank and an enterprise risk services consultant for Deloitte & Touche. The NAI Hallmark commercial real estate brokerage and property management firm promoted Luke Feldman and Patrick Carney to senior associates. Feldman joined NAI Hallmark in 2017 after receiving a master’s in real estate from the University of Florida. He specializes in the sale and acquisition of valueadd investment properties. Carney joined NAI Hallmark in 2017 after receiving a bachelor’s in marketing from the University of North Florida. He specializes in office leasing and landlord and tenant representation. Bleu Hilburn returns Aug. 31 to Crowley Solutions as vice president of business development for all government services. Hilburn played a role in Crowley’s bid to land the U.S. Transportation Command’s Defense Freight Transportation Services contract in 2016-17. He joined Crowley in 2012 after a career in the U.S. Army as a transportation and logistics officer. Before rejoining Crowley, Hilburn was vice president of business development at New Jersey-based American Roll-on Roll-off Carrier Group. CBRE announced it promoted Marc Scaffe to managing director of property management for all Florida markets. He previously led property management for CBRE in North Florida. In his expanded role, Scaffe is responsible for more than 34 million square feet of properties under management by CBRE, 70 professional team members and 50 engineers.

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vystarcu.org Certain restrictions and limitations apply. All loans are subject to credit approval. No Closing Costs offer available only when obtaining a VyStar Credit Union First Mortgage Loan and is not available on VA and FHA Mortgages. Available for purchase or refinance. VyStar will pay borrower closing costs up to a maximum amount of $5,000 excluding origination fee, discount points, private mortgage insurance, prepaid interest or funds to establish the member’s escrow account. If the borrower pays off the mortgage within the first 36 months, they will be required to reimburse VyStar for a portion of the closing costs paid by VyStar. Offer available for a limited time and subject to change without notice.

WE’D LIKE TO REMOVE THE WORD ‘STRESS’ FROM YOUR VOCABULARY. VyStar Title Agency* knows that closings can be tense. So, whether you’re a buyer, broker, Realtor, or lender, we’ll be there step-by-step to help make the process as fast and easy as possible. You’ll get the personal attention you deserve from the moment the file is opened until the last document is signed and delivered. So relax, and rely on VyStar Title Agency for precise, prompt, and professional service.

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DEVELOPMENT TODAY These are the largest commercial building permits by job cost issued Aug. 25 by the city of Jacksonville. SIGNS Swisher, 459 E. 16th St., contractor is Harbinger, two ground and two wall signs, $20,000. T-Mobile, 9620 Applecross Road, No. 106, contractor is Clear View Signs Inc., two wall signs, $4,900. Metro by T-Mobile, 3801 University Blvd. W., 7628 103rd St. and 1440 Dunn Ave., contractor is Shark Signs of NE FL Inc., three wall signs, totaling $4,500. Seacoast Christian Academy, 819 Townsend Blvd., contractor is Heritage Signs, wall sign, $3,251. Arnoldzzz, 13423 Beach Blvd., No. 101, contractor is Taylor Sign & Design Inc., wall sign, $2,465.

Shoreline Flooring Supplies, 8036 Philips Highway, contractor is Shark Signs of NE FL Inc., wall sign, $2,400. Tire Giant New & Used Tires Brakes Discount Prices 904-683-6144, 5350 Batley Road, contractor is Shark Signs of NE FL Inc., two wall signs, $2,200. UTILITIES T-Mobile South LLC, 7730 Merrill Road, contractor is SouthShore Communications LLC, upgrade equipment on an existing telecommunications facility, $65,000. Compiled by Karen Brune Mathis * VyStar Title Agency, a division of VyStar Financial Group LLC; a wholly owned subsidiary of VyStar Credit Union. Not federally insured and not underwritten or guaranteed by the credit union. 325773-1

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, AUGUST 27, 2020

JaxDailyRecord.com

REAL ESTATE

Uncertainty holds back multifamily investors The concerns about job losses and the end of federal relief weighs on apartment market in Jacksonville area. BY SCOTT SAILER STAFF WRITER

The multifamily investment sector in Northeast Florida slowed in March amid the uncertainty of the coronavirus pandemic. Questions about rebounding employment and government economic relief slowed investment in the sector. The April spike in unemployment up to 11.2% had little effect on Jacksonville multifamily occupancy rates, which fell year-over-year from 95.6% to 94.8%, according to the Colliers International Northeast Florida Q2 2020 Multifamily Research and Forecast Report for the Jacksonville Metropolitan Statistical Area covering April-June. The relative strength in occupancy is attributed to the $1,200 payments from the coronavirus relief bill, the $600 in federal weekly jobless benefits, which ended July 31, and the eviction moratorium, the report said. Congress has been debating a second COVID-19 package and President Donald Trump signed four executive orders addressing rent relief, unemployment benefits, a payroll tax holiday and deferral of student loan payments. Bradley Coe, senior director of Multifamily Investment Services with Colliers International Northeast Florida, said there is conCoe cern about rent collections as federal relief ends. “Rent collections April through June were in the 90% to 95% range,” he said, which is normal. As of Aug. 12, collections are down to 87%. However, “rent collections tend to tick up as the month unfolds,” he said. The Class A and B – newer communities – are “doing a good job weathering the storm, but the C Class is not doing as well just because of the renter demographic, which are more likely to be unemployed and

Special to the Daily Record

The 290-unit Barlow apartment community near San Marco is expected to open in summer 2021. The neighboring Exchange is expected to open in spring 2021. The apartments are under construction on 8.89 acres on two blocks bounded by Olevia Street, Mitchell Avenue, Philips Highway and Perry Place. Bertha Street runs between them.

less likely to make payments,” he said. The Colliers report cited U.S. Bureau of Labor Statistics and CoStar commercial real estate data that show the Jacksonville area lost 90,000 jobs in March and April but recovered 45% of those losses by the end of June. The metro area unemployment rate dropped to 10.5% in May and 8% in June after business reopenings. Colliers reported that new rental rates fell 0.5% quarterover-quarter and remained unchanged year-over-year. In general, newer apartment communities experienced a slight decline in rents. Coe said lease-up for those communities is now about half the number of units, and concessions have held steady. Average rents in the Jacksonville area in June were $1,095, or $1.14 per square foot. As the second quarter ended, there were about 120,293 units in communities with more than 50 units. During the quarter, 715 vacant units were rented while communities completed 928 units. There are 4,928 apartment units under construction. “The annual demand for new units in the market is roughly 2,000 and annual completions are around 3,300,” Coe said.

MULTIFAMILY INVESTMENT SALES

Colliers’ 2019 Jacksonville year-end report identified 60 multifamily sales totaling $1.31 billion and comprising 12,876 units. This year, sales are down but the average per-unit price is up. Last year as of June, there were 26 transactions. This year there were 11 and volume is down $200 million. However, the average perunit price increased from $104,000 in 2019 to $152,750, up almost 46.9% because of newer communities being sold. “The big impact felt in the sector is the number of transactions in the second quarter are down 60%,” Coe said. Seven of the 11 sales in 2020 were after the COVID-19 shutdown in mid-March. “Investors are still on the sidelines because we still don’t know what is going to happen as it relates to future rent collection levels,” Coe said. He said the uncertainty lies in the inability to measure rent growth opportunities, potential increases in delinquency and the ability to make improvements for increased rents for the value-add investor. Federal relief helped apartment owners “ride this thing out,” he said.

“They are saying my collections are still good, my income is still good and occupancy is strong. Why should I sell an asset that may have to be discounted anywhere from eight to 12%?” The older Class C communities are more in jeopardy of reduced rental income leading to problems with owner mortgage payments, Coe said. Certainty depends on the return of jobs and additional federal relief. A recent Colliers Investor Sentiment Survey shows an increase in investor optimism because of business reopenings. More investors are expecting increased rent and asset value growth. STEADY CONSTRUCTION

Marc Padgett, president and CEO of Jacksonville-based general contractor Summit Contracting Group, said he is “seeing a steady rate of project starts for both suburban garden-style and high density urban” multifamily. Summit has eight communities, comprising 1,505 units, under construction in the Jacksonville area. “Some developers have requested a little extra lead time before breaking ground. All our projects are going vertical as planned,” Padgett said. Project construction during the

pandemic is on schedule, he said. “Early orders are critical right now if we want products to arrive when needed,” Padgett said. He has had to find sources for some materials in the U.S. that normally come from overseas. Delivery of materials such as appliances, Padgett windows and trusses has been slow, but costs have not increased, he said. Padgett said he is not seeing COVID-19-related design changes to multifamily amenities where people gather, but changes “in the way those amenities are managed, with increased cleaning protocols, space reservations, etc.” “Interest in coworking spaces and in-home offices has risen in recent years but is now prominent in apartment designs. How important are these spaces? It may be too early yet to know the impact of our current economy on future need, and will likely depend on the local employment markets as well,” he said. SSAILER@ JAXDAILYRECORD.COM (904) 356-2466

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JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, AUGUST 27, 2020

JaxDailyRecord.com

Top 10 home sales of week BY SCOTT SAILER • STAFF WRITER

Here are the top 10 single-family residential real estate sales in Northeast Florida, comprising Duval and St. Johns counties. The sales were recorded Aug. 17-21.

DUVAL

$1,318,750 580 Broward Road, Jacksonville Type: Single-family Lot size: 2.13 acres House size: 4,509 square feet Buyer: James N. and Melanie G. French Seller: Shawn and Nina Chopra Previous sale: $1,100,000 in 2014

ST. JOHNS

$1,150,000 7537 Florida A1A S., St. Augustine Type: Vacant residential lot Lot size: 1.56 acres Buyer: 1434 River of May LLC Seller: Teresa D. Griffin and the Teresa D. Griffin Living Trust

ST. JOHNS

$1,107,000 ST. JOHNS

$1,215,000

ST JOHNS

Type: Single-family Lot size: 0.45 acres House size: 2,786 square feet Buyer: Cordero Family Trust Seller: James C. Kidder and Alana S. Curtice

Type: Single-family Lot size: 1.36 acres House size: 5,304 square feet Buyer: Brian and Sarah L. Vogelsang Seller: Ronald F. and Caroline S. Tanler Previous sale: $950,000 in 1990

ST. JOHNS

$1,195,000

$1,100,000

7190 Marsh Hawk Court, Ponte Vedra Beach

4588 Coastal Highway, St. Augustine

Type: Single-family Lot size: 0.72 acres House size: 3,694 square feet Buyer: Christian and Kristi L. Heibel Seller: Michael A. and Ann M. Bloomquist Previous sale: $775,000 in 2010

Type: Single-family Lot size: 0.43 acres House size: 3,201 square feet Buyer: William and Zahra Umansky Seller: George M. and Cynthia E. Andrew Previous sale: $975,000 in 2012

2351 S. Ponte Vedra Blvd., Ponte Vedra Beach

$4,550,000 565 Ponte Vedra Blvd., Ponte Vedra Beach Type: Single-family Lot size: 0.23 acres House size: 5,568 square feet Buyer: Tequila Timeout LLC Seller: William F. Barron Jr., William F. Barron III, Rebekah B. Montgomery and Joanne Barron

About the property: Oceanfront two-story home with seven bedrooms, seven full bathrooms and two half-baths. Features porches, balconies, rooftop deck and dune walkover.

ST. JOHNS

DUVAL

$2,400,000

$2,150,000

$1,460,000

545 Le Master Drive, Ponte Vedra Beach

924 Ocean Palm Way, St. Augustine

5268 Tallulah Lake Court, Jacksonville

Type: Single-family Lot size: 0.49 acres House size: 4,679 square feet Buyer: Timothy P. and Joan Y. Whelan Seller: David J. and Kelly M. DeLuca Previous sale: $1,350,000 in 2010

Type: Single-family Lot size: 0.39 acres House size: 5,579 square feet Buyer: The Trust of Scott and Kathy Turner Seller: William N. and Mary E. Naramore

Type: Single-family Lot size: 0.44 acres House size: 6,657 square feet Buyer: Tyler G. Eifert and Rachael Kimack Seller: Steven J. and Sarah S. Wheatcroft Previous sale: $973,000 in 2017

9070 Marsh View Court, Ponte Vedra Beach

AT SAN PABLO

MODEL HOME NOW OPEN! Special 30-yr fixed rate financing of 2.875% *

Model Home Hours

Mon-Thur 11-5 • Fri - Closed • Sat 11-5 • Sun 1-5 800-728-1934 x8007 • www.WatersideatSanPablo.com For Direct Sales Inquiries Call Steve Williams 904-241-8687 For financing information, contact Paul Miller (NMLS# 121182) at CenterState Bank Mortgage. Cell: (904) 334-8080 | Email: paul.miller@centerstatebank.com www.csbankmortgage.com/paul-miller Subject to credit approval. CenterState Bank, N.A. NMLS# 403455

333626-1

*See Agent for Details. Subject to change without notice.