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Mathis Report: Culver’s planned for Gate Parkway PAGE 3

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Record & Observer DOWNTOWN REDEVELOPMENT JACKSONVILLE

Shipping container food court in plans at College Park

RESTARTING THE Record & Observer ‘NORTH CORE’ Record & Observer

The developer is making “good progress” in securing a grocery tenant for the former Town & Country Shopping Center.

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BY KATIE GARWOOD STAFF WRITER

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JWB Real Estate Capital President Alex Sifakis said Sept. 9 construction on College Park, the former Town & Country Shopping Center in Arlington, could begin by mid-2021. JWB filed plans with the city Sept. 8 that show a shipping container food court and park, two apartment buildings, public open space and an Ellianos coffee shop. The center is at northeast University Boulevard and the Arlington Expressway. Built in 1953, it comprises about 200,000 square feet on 19 acres at 903 University Blvd. Sifakis said he and his team looked at other successful shopping center renovations in Jacksonville and across the country to create their redevelopment plans. “It seemed like that mix, getting some residential and some experiential retail was critical,” Sifakis said. Dollar General, Annie’s Nails, Bait & Tackle, Advanced Auto Parts, Legacy Ministries and Davita Inc. are among the current tenants. Sifakis said his group looked at similar concepts like Sparkman Wharf in Tampa and Boxi Park in Lake Nona to design the 17,733-square-foot shipping container food court and park. Both use shipping containers to house small, counter-service restaurants and have outdoor seating and entertainment. The two apartment buildings

Record & Observer Photo by Mike Mendenhall

JWB Real Estate Capital President Alex Sifakis inside the 218 W. Church St. building his company purchased in August. JWB plans to redevelop the property as apartments with commercial space on the ground floor.

Developers have $86.1 million of investment planned for the neighborhood, with more expected. BY MIKE MENDENHALL STAFF WRITER

rees and weeds grow through the floorboards on the fourth and fifth levels of the vacant office building at 218 W. Church St. Alex Sifakis, president of JWB Real Estate Capital, said nature has “reasserted itself” inside the dilapidated historic structure, but he sees potential. “I think that bringing these old buildings back to life is really important for Downtown. I mean, it looks like

a fricking disaster, but we’re (JWB) used to this,” Sifakis said. The five-story, 26,500-square-foot building constructed in 1924 was purchased by JWB on Aug. 26 for $675,000. It’s the company’s latest investment in what Sifakis and three other development groups have collectively branded Downtown’s “North Core.” JWB, Augustine Development Group, ACE JAX LLC and husband-and-wife team Jim and Ellen Wiss paid a combined $15.38 million for historic buildings and

The top 10 sales of the week in residential real estate PAGE 7 Health & Business: Cross Regions expanding two medical hubs PAGE 10 Marbut Report: Bridges to Justice for Children’s Health set PAGE 12

INSIDE Bill would offer incentives for redeveloping properties Downtown. Page 5

SEE NORTH CORE, PAGE 4

SEE COLLEGE PARK, PAGE 9

THE BASCH REPORT

Shoe Carnival sees sales surge amid pandemic Analyst reduces Regency outlook. PAGE 6 VOLUME 3, NO. 15 • ONE SECTION

WHAT’S TRENDING

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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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sume the rights and responsibilities Dallas-based Preston Hollow for The District Elements’ reCapital LLC of The 121isW.assuming Forsyth control St., Suite 150, Jacksonville, FL,under 32202 development agreement with the city District, the proposed $600 million, Phone: (904) 356-2466, Fax (904) 353-2628 and Downtown Investment Authority. mixed-use project on the Downtown jaxdailyrecord.com Munz and Elements co-lead Peter Southbank. Rummell will stay on as consultants to Michael Munz, co-lead of Elements ABOUT US provide “support, counsel and develDevelopment of Jacksonville LLC, opment expertise” Preston which led theRecord projectand since 2014, saidRecord Jacksonville Daily Jacksonville & Observer are ato division ofHollow’s team. Sept.Media 4 thatGroup Preston Observer Inc.Hollow will as-

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THURSDAY, SEPTEMBER 10, 2020

Culver’s restaurant planned off Gate Parkway Turner Ace Hardware to Cobblestone: The city issued a permit Sept. 2 for Auld & White Constructors LLC to remodel space for Turner Ace Hardware in former gym space at Cobblestone Crossing in the Fort Caroline area. Auld & White will renovate units 10-12 at the 2771 Monument Road center at a cost of $400,000. Plans specify an almost 10,000-square-foot main sales area with indoor and outdoor garden sales, totaling about 13,000 square feet. The tenant is listed as Turner Hardware Beaches Inc., led by President Michael D. Turner.

KAREN BRUNE MATHIS EDITOR

The franchisee opened the area’s first location in Middleburg and plan their second by summer 2021.

Special to the Daily Record

Don and Lori Lichte and their daughter, Sophie, center, opened the first area location for Wisconsin-based Culver’s restaurant in Middleburg in 2019. They are planning a Jacksonville Culver’s along Gate Parkway.

Culver’s first area franchisee, who opened a restaurant in Middleburg in July 2019, hopes to open its second area location in Jacksonville off Gate Parkway near Ikea. Don and Lori Lichte and their daughter, Sophie, have identified a site. Don Lichte said they are in due diligence. Pending permitting, he said they hope to open by early summer 2021. Sophie Lichte is the owneroperator of the Middleburg restaurant, which is in Clay County, and will be the same for the Gate Parkway one, her father said. The 4,400-square-foot building will seat about 106 people inside and 36 outside. He hopes for a double drivethru lane. “We really like that area and the demographics,” Don Lichte said. “We wanted Murphy to build east of the river closer to the beach.” He said the Middleburg location “is doing great.” Their goal is to build three area Culver’s restaurants in five years, “and we’ll see after that.” The Lichtes worked with real estate broker Clint Murphy, president of Jacksonvillebased Murphy Land and Retail Services Inc., which represents Culver’s in its area site search. Culver’s is based in Prairie du Sac, Wisconsin, near Madison. The restaurant specializes in frozen custard, cheese curds and ButterBurgers – named for their butter-toasted buns. The company works with

multiple franchisees to develop within areas. Culver’s plans to open in Southwest Jacksonville at 7923 Parramore Road at southwest Collins Road and I-295; in St. Johns County at 3433 U.S. 1 S. in St. Augustine and at 45 Fountains Way in the Fountains at St. Johns in Saint Johns; and in Yulee at 463731 Florida 200. Murphy said his company is the preferred area broker for Culver’s Franchising System LLC and the corporate real estate department. He said Sept. 4 that there are six operators working on Culver’s sites in Duval, Clay, Nassau and St. Johns counties. Murphy said he is working on a site in Arlington, and a Tallahassee site is closing and construction will start immediately. “Counting Tallahassee, we are on track to have 15 stores in four years,” he said. Culver’s generally seeks sites for an up to 4,500-square-foot free-standing restaurant. The developers prefer to own the sites rather than ground-lease them. Founded in 1984, Culver’s now counts more than 740 Culver’s locations across the United States. At Culver’s, customers order at the counter and the cookedto-order food is delivered to the table. At the drive-thru, customers order at the speaker, pull up to pay and are given a number, moving up until the food is prepared and delivered to the car. Lichte said Culver’s will introduce a mobile ordering app that should be available by year-end.

Murphy said Bob Morris with Murphy Land and Retail Services represented the franchise owners who bought the St. Johns County properties in recent weeks. GNL Coastal Properties LLC paid $1.15 million for the land at 3433 U.S. 1 S. and Titletown Properties LLC paid $1.25 million for property in the Fountains.

Beachwalk retail project expanding Murphy Land and Retail Services Inc. also represented PEBB Enterprises and Falcone Group as they paid $4.95 million Aug. 4 for 14.88 acres surrounding the Publix Super Markets Inc. store in the Beachwalk community in St. Johns County, according to President Clint Murphy. They plan more retail, medical and restaurant space. PEBB and Falcone plan to develop 65,000 square feet to complement the 48,400-square-foot Publix and 10,500 square feet of in-line retail space at the 855 County Road 210 W. site. The project will include up to six outparcels with an additional 35,000 square feet of medical and retail proposed southwest of the Publix. Murphy Land and Retail Services also represented PEBB in its acquisition of the Publix site July 10. Construction of the Publixanchored center is expected to be completed by summer 2021. KMATHIS@ JAXDAILYRECORD.COM @MATHISKB (904) 356-2466

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Dollar General to Panama Park: The St. Johns River Water Management District is reviewing an application for Concept Development Inc., a developer for Dollar General, to build a 9,100-square-foot retail store on 1.35 acres at southeast Main and 50th streets in the Panama Park area. CHW of Jacksonville is the civil engineer. Car wash: The St. Johns River Water Management District is reviewing plans for a car wash at 8771 Baymeadows Road, the site of an ABC Liquors Inc. store. A July 23 letter from engineer KPM Franklin of Orlando says the 1.5-acre site was developed for a retail business in 1976. It says the existing building will be demolished and the site will be reconfigured to become a car wash. Publix center at Northpoint: The St. Johns River Water Management District is reviewing plans for the Northpoint Village commercial center on almost 16.5 acres at 12541 Yellow Bluff Road, at northeast Yellow Bluff and New Berlin roads. Plans show a first phase of an almost 48,400-squarefoot Publix Super Markets Inc. store, almost 18,000 square feet of adjacent retail space and five outparcels of 0.89 to 1.53 acres. International Management Co. LLC is the developer. IMC expects to complete it in summer 2022. Gate in Baymeadows: The city issued a permit for Gate Petroleum Inc. to renovate its 6,667-square-foot gas station and convenience store at 11350 Baymeadows Road at a cost of $465,000. RaceTrac to St. Johns: St. Johns County is reviewing an application for an 8,100-square-foot RaceTrac gas station and convenience store on 7.75 acres at Florida 206 and Interstate 95 in St. Johns County.

DEVELOPMENT NOTES 24/7 Pediatrics to Campfield Commons: The city issued a permit Sept. 2 for Tim Young Construction Inc. to build a 5,591-square-foot office for 24/7 Pediatrics at a cost of $1.37 million at 8990 RG Skinner Parkway in Campfield Commons. 24/7 Pediatric Care Centers LLC of Jacksonville Beach is the developer. The project is planned on 0.69 acres. Solar roofs for Extra Space Storage: The city issued permits for the installation of photovoltaic systems for Extra Space Storage at 100 Girvin Road and 5550 Timuquana Road.

RESTAURANT NOTES Dunkin’ in Baymeadows: Dunkin’, formerly called Dunkin’ Donuts, wants to remodel its store at 9978 Baymeadows Road, No. 5, at a cost of $65,000. Starbucks to Branan Field: The Clay County Development Review Committee is reviewing plans for a drive-thru Starbucks at southeast Blanding Boulevard and Baxley Road in Clay County.

THE MATHIS REPORT

RETAIL NOTES

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THURSDAY, SEPTEMBER 10, 2020

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North Core CONTINUED FROM PAGE 1

BUILDINGS NOW

218 W. Church St.

Special to the Daily Record

A redeveloped 218 W. Church St. would comprise apartments with commercial on the first floor.

Federal Reserve Bank Building

Special to the Daily Record

Plans for the Federal Reserve Bank Building at 424 N. Hogan St. include a restaurant, business and banquet space and an exterior courtyard for dining.

parcels in the Downtown neighborhood since January 2018. The four development firms have announced a total of $86.1 million in plans, with more in the works. The North Core is bordered by State, Broad, Church and Main streets, Sifakis said. It’s part of the Church District in the Downtown Overlay. Sifakis said while touring the West Church Street building Sept. 4 that he expects the North Core’s planned retail, restaurants and residential to be successful because it’s walkable for Downtown’s 56,000 workers, its proximity to City Hall, James Weldon Johnson Park and civic activities and its historic characteristics. “You take any part of Downtown that already has historic buildings and that kind of density, and you do five city blocks altogether, you’re going to have a true neighborhood,” Sifakis said. “And so we focused on this because there were already developers doing projects in the area. “We (JWB) have bought probably 4,000 properties in Jacksonville and most of them are beat up,” Sifakis said. “They’re the worst properties in the neighborhood and you bring them back and make them the best. And that’s what we’re planning on doing here.” Jim and Ellen Wiss, who acquired nearly a full city block from the First Baptist Church in February for restoration and redevelopment, said the historic buildings drew them to the North Core. But Jim Wiss said Sept. 3 that

historic buildings alone are not enough to make the neighborhood viable. He expects a mix of new construction and adaptive reuse. “Now, obviously the historic buildings are important. That goes without saying,” Wiss said. But the Wisses plan to incorporate new construction into their redevelopment and restoration of the historic former First Baptist Church buildings. “Because a lot of these historic buildings aren’t either large enough or their design criteria just doesn’t work to make a fullfledged community out of them,” Wiss said. PURCHASES AND PLANS

In August, JWB acquired 218 W. Church St. and a few weeks later bought the adjacent Federal Reserve Bank Building from the Wisses at 424 N. Hogan St. That followed the company’s purchase of the Seminole Building, home to the Sweet Pete’s candy store, at 400 N. Hogan St. Plans released Sept. 3 in Downtown Development Review Board meeting documents show a restaurant space and 24 studio and one-bedroom apartments in the 218 W. Church St. property. There also are two mercantile suites. JWB’s plan for the Federal Reserve Bank Building redevelopment includes a restaurant, business and banquet space and an exterior courtyard for dining. The Wisses bought the former First Baptist property through EJPC LLC. It’s bounded by Beaver, Julia, Ashley and Hogan streets and includes a four-story, 20,000-square structure built in 1954 and a two-story, 10,000-square-foot building

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completed in 1947. Jim Wiss said they are planning a $30 million mixed-use development. Augustine Development Group, led by president Bryan Greiner, and its development partners, own two historic sites in the North Core: The 18-story former Independent Life Building at 233 W. Duval St., purchased in September 2019, and the former Ambassador Hotel at 420 N. Julia St., bought in July 2019. The St. Augustine-based firm plans a $30 million adaptive reuse of Independent Life, including a 21,000-square-foot grocery store and 140 market-rate apartments. Amenities include a rooftop terrace, pool and lounge. Augustine Development’s $15 million renovation of the Ambassador through Axis Hotels LLC will establish a 127-room La Quinta Inn and Suites. ACE JAX LLC, controlled by Petra Management Inc. Vice President Elias Hionides and Christian Allen of Atlantic Beach, bought the vacant Jones Brothers Furniture Co. Building at 520 N. Hogan St. and the Western Union Building at 502 N. Hogan St. in January 2018. Hionides’ plans dating back to May 2018 show retail, office and restaurant space at both buildings along with 28 apartments in the Jones Brothers building. TRANSPORTATION AND COMMUNICATION

Sifakis said North Core developers talk often and that he has been in frequent communication with Augustine Development on its plan for the Independent Life Building. And they’ve made deals to develop the neighborhood at a faster pace.

Investors Jim and Ellen Wiss acquired nearly a full city block bounded by Beaver, Julia, Ashley and Hogan streets. They are planning a $30 million mixed-used development. File image

Jim Wiss said the bank renovation was “a bit small” to fit into their development plans for the North Core, but they knew its restoration would benefit their project. “So, part of our discussion with Alex (Sifakis) was, ‘Yeah, we’ll sell it, but we’re not selling it for you to hold it. We’re selling it for it to be redeveloped because that’s our goal, too,” Wiss said. “And if your timetable’s faster than us, then we’d just as soon you do it.’” Sifakis said JWB will spend “a lot” on its redevelopment plans, but the company is still determining a budget for what is likely to be a 1½ year to 2-year project. Sifakis and Jim Wiss said North Core development will need to find more parking, but the Wisses are looking at First Baptist Church’s nearby unused parking garages as a solution. Wiss said the Jacksonville Transportation Authority’s Rosa Parks Transit Station hub at 201 W. Union St., which includes an elevated Skyway station, is a draw for developers and allows for expanded access for restaurantgoers, shoppers and residents.

The east side of the station is being demolished for transportation-oriented development, JTA Communications Director David Cawton II said June 22. “That corridor will allow for parking, as well as mass transit of some sort,” Wiss said. Wiss says there is demand for the urban lifestyle envisioned for the North Core and Downtown Jacksonville. “We believe in urban cores. We believe that is a lifestyle that a lot of people really want. A lot of, especially younger people and older people, don’t want that suburbia apartment building or communities. They want something that has a little bit more of an urban flair. They can walk downstairs to the coffee shop. They can walk around the block to the restaurant. “Most great cities, most good cities, have very strong urban cores. We believe Jacksonville will have it. It’s a great city,” Wiss said. MMENDENHALL@ JAXDAILYRECORD.COM @MIMENDENHALL (904) 356-2466

THURSDAY, SEPTEMBER 10, 2020

Bill would boost city incentives for Downtown redevelopment Developers could use money for fire code upgrades, interior renovations and more. BY MIKE MENDENHALL STAFF WRITER

A bill making its way through City Council seeks to boost historic redevelopment in the North Core and throughout Downtown. Two Council committees are scheduled next week to debate Ordinance 2020-0527 expanding city programs that offer incentives for the renovation and redevelopment of historic properties and old Downtown properties. The Downtown Investment Authority board approved a resolution in July recommending City Council enact the Downtown Preservation and Revitalization Program. The program, created by DIA Director of Downtown Real Estate and Development Steve Kelley and CEO Lori Boyer, increases the city’s buy-in on historic projects. Boyer said the plan offers money for fire and other building code compliance upgrades like sprinkler systems that many developers tell the DIA is a roadblock to redeveloping older and historic structures. If approved, the proposal would reimburse 75% of code compliance costs for designated historic structures and up to 25% for aging buildings that are

not designated. The plan keeps the existing Downtown District Preservation and Revitalization Trust Fund for grants under $100,000. These incentives could be approved by the DIA without Council approval. No more than 50% of total development costs will come from public money under the plan if the developer equity is greater than 15% of the project. The city would cover up to 75% of costs associated with exterior renovation and the same for interior restoration of historic features like an historic elevator or plastered cornices. “From a policy perspective, we felt the exterior was particularly important to other businesses, other properties Downtown, improving the market value Downtown,” Boyer said during a July 7 DIA meeting. The city would cover 30% of the cost of interior renovation including new sheetrock, granite or flooring, elements that Boyer said could be needed to make a building viable. The incentives would require the developer to take a 20% gap loan to qualify. Finance Committee Chair Matt Carlucci, Council president in 2001 when a task force led to the creation of the trust, is co-sponsoring the legislation with the DIA. MMENDENHALL @JAXDAILYRECORD.COM @MIMENDENHALL (904) 356-2466

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THURSDAY, SEPTEMBER 10, 2020

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MARK BASCH CONTRIBUTING WRITER

Footwear company controlled by Wayne Weaver says it was boosted by the decision to not furlough employees during pandemic shutdown. Despite the COVID-19 pandemic upending normal consumer behavior, Shoe Carnival Inc. last week reported record sales. The chain of 382 footwear stores controlled by former Jacksonville Jaguars owner Wayne Weaver said sales in the second quarter ended Aug. 1 jumped 12.1% to $300.8 million, a quarterly record for the company. Comparable-store sales (sales at stores open for more than one year) rose 12.6%, with all of its stores reopened by June after pandemic-related closings. “Our sales were undoubtedly supported by our decision to not furlough any employees during the shutdown, as we were able to get our team members back to the store faster than nearly all our competitors,” CEO Cliff Sifford said in Shoe Carnival’s conference call with analysts. But Shoe Carnival also was helped by a surge in online sales during the pandemic, with e-commerce sales more than tripling and accounting for 20% of second-quarter revenue. Late summer is usually a busy period for Shoe Carnival as parents take their children to buy new shoes for the upcoming school year. But 2020 is no usual year. “In a typical season we see back-to-school shopping start in mid to late July. However, the pandemic has delayed start dates for nearly all the schools within the markets we operate,” Sifford said.

File image

Sales of dress shoes dropped at Shoe Carnival in the second quarter, while adult athletic footwear surged 30%.

“As we saw this materializing, we pivoted quickly and realigned our back-to-school marketing to correspond with the shift in the season.” Sifford said 95% of schools in its markets usually are back in session by the end of August but this year, only 65% returned by Aug. 31. “We believe the majority of back-to-school volume will be realized through September,” he said. However, “we will extend our back-to-school season through the end of October to ensure we are timely serving our customers’ needs.” With the change in back-toschool buying, comparablestore kids’ shoe sales were down by a low single-digit percentage in the second quarter, Sifford said. He also said adult dress shoes dropped by a doubledigit percentage, with more people working from home. That was offset by a 30% jump in adult athletic footwear sales. While sales increased, profit margins fell in the quarter. Shoe Carnival’s earnings of 71 cents a share were 9 cents lower than the second quarter of fiscal 2019. Weaver is chairman of Evansville, Indiana-based Shoe Carnival and its largest shareholder. His family controls 30.8% of the stock.

Michaels total sales jump 11.1% The Michaels Companies Inc. last week also reported a

big jump in sales for the second quarter ended Aug. 1. The Texas-based arts and crafts retailer, which has a distribution center in Jacksonville, reported total sales rose 11.1% to $1.15 billion and comparable-store sales increased by 12%. “We saw strong demand and customer engagement across our stores, and the multiple omnichannel touchpoints we introduced over the past few months,” CEO Ashley Buchanan said in a news release. All 1,270 Michaels stores reopened by the beginning of July, but like Shoe Carnival the company more than tripled e-commerce sales in the quarter. The company said its expanded ominchannel sales efforts include curbside pickup, same-day delivery and ship from store options. Adjusted earnings rose by 11 cents a share to 30 cents.

Smith & Wesson gun sales up 140% After trying to diversify its business with the acquisition of a Jacksonville company four years ago, Smith & Wesson Brands Inc. last week showed why it returned to its roots as a pure-play firearms company. The gun-maker reported firearms sales jumped 140.9% to $229.9 million in its first quarter ended July 31. After the quarter ended, Smith & Wesson spun off its outdoor products accessories business into a separate public company called American

Outdoor Brands Inc. That business also had a big sales increase in the first quarter, up 52.3% to $50.6 million. Smith & Wesson in 2016 acquired Jacksonville-based Ultimate Survival Technologies as it sought to diversify from the gun business and it changed its corporate name to American Outdoor Brands. UST’s Jacksonville facility was closed last year as the company consolidated operations. It also decided to split in two and turn American Outdoor Brands into a separate company. “Our record revenue and unit sales during the quarter demonstrates our ability to rapidly respond to increased demand through our flexible manufacturing model and our state-of-the-art distribution facility, delivering outstanding products that resonate with the firearms consumer,” Smith & Wesson CEO Mark Smith said in a news release. Smith & Wesson reported adjusted earnings of 97 cents a share for the quarter, up from just 3 cents in last year’s first quarter.

ComSovereign expands operations ComSovereign Holding Corp., formerly Jacksonvillebased Drone Aviation Holding Corp., is continuing to expand its operations. The company, now headquartered in Dallas, announced a deal last month to acquire a 140,000-square-foot manufacturing facility in Tucson, Arizona, and hire 300 people when it opens in early 2021. ComSovereign was formed through a merger in November 2019 with Drone Aviation as a holding company for communications technology businesses. The Drone Aviation business, which makes tethered, unmanned aerial vehicles including lighter-than-air aerostats and drones, continues to be headquartered in Jacksonville. ComSovereign said in an August Securities and Exchange Commission filing that it signed a lease extension through July 2023 for its small Jacksonville office. The company said operations at its new Tucson facility will include manufacturing for Drone Aviation.

ComSovereign reported revenue of $5.5 million and a net loss of $14.6 million in the first half of 2020.

Analyst lowers Regency valuation Morningstar analyst Kevin Brown last week lowered his estimate of Regency Centers Corp.’s value, saying some of the shopping center developer’s tenants will continue having trouble paying their rents. Regency and competitor Kimco Realty focus on shopping centers anchored by supermarkets, which have done well in the pandemic as consumers buy more food to eat at home, Brown said in his report. “However, that has not translated to increased revenue for other tenants in a grocery-anchored center. Many nonessential tenants have been closed, either due to local ordinances or voluntarily to reduce operating expenses,” he said. “While most tenants were open by July, business has not fully returned and thus rent collection remains an issue,” Brown said. “We believe that it will be a few more quarters before all tenants are fully able to pay rent, which has caused us to lower our outlook.” Brown lowered his estimate for Regency’s stock fair value from $75 to $62, which is still well above the Jacksonvillebased company’s recent trading price mainly in the low $40s. While Brown expects more stores to close, he thinks occupancy declines in groceryanchored shopping centers will be more modest than previously thought. So, he has a positive long-term outlook for Regency and Kimco. “If the second quarter was the worst quarter these companies will face, then operating cashflows should remain positive for these companies and both will likely see solid growth as the economy recovers,” he said. Beyond the pandemic, Regency’s shopping center portfolio “should see steady but low growth over the next decade as the retail landscape adjusts to the emergence of e-commerce,” Brown said. MBASCH@ JAXDAILYRECORD.COM

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THE BASCH REPORT

Sales surge 12.1% at Shoe Carnival

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

JaxDailyRecord.com

BY SCOTT SAILER • STAFF WRITER

Here are the top 10 single-family residential real estate sales in Northeast Florida, comprising Clay, Duval and St. Johns counties. The sales were recorded Aug. 31- Sept. 6.

DUVAL

$2,500,000

ST. JOHNS

$1,545,000

$1,500,000

333 S. Roscoe Blvd., Ponte Vedra Beach

8416 Florida A1A S., St. Augustine

Type: Single-family Lot size: 0.56 acres House size: 3,436 square feet Buyer: The Miriam G. Rust Living Trust Seller: Jean D. Blocker and the Joint Living Trust of Michael Harley Blocker and Jean Dougherty Blocker Previous sale: $1,281,500 in 2007

$1,500,000

1415 N. First St., No. 604, Jacksonville Beach

DUVAL

$1,825,000

$1,800,000

$1,650,000

DUVAL

332 Fourth St., Atlantic Beach

1310 Strand St., Neptune Beach

8200 W. Jose Circle W., Jacksonville

$1,500,000

Type: Single-family Lot size: 0.18 acres House size: 3,508 square feet Buyer: William H. and Mary K. Morgan Seller: Nicole P. and Stephen C. Joost

Type: Single-family Lot size: 0.08 acres House size: 1,695 square feet Buyer: Nicholas N. Tawil Seller: John J. Julie K. Schickel Previous sale: $1,562,500 in 2019

Type: Single-family Lot size: 1.15 acres House size: 4,586 square feet Buyer: Dustin M. and Keri L. Haines Seller: Donald E. and Susan S. Blaser Previous sale: $690,000 in 2000

Previous sale: $2,400,000 in 2006 About the property: Oceanfront twostory home features four bedrooms, 3½ bathrooms, pool, balcony, porch and wood deck.

DUVAL

$1,379,000

Type: Single-family Lot size: 95.64 acres House size: Four buildings totaling 5,030 square feet Buyer: William D. and Chelsea R. Gardner Seller: Edward H. Ma and Jade Q. Han Previous sale: $1,150,000 in 2011

Type: Single-family Lot size: 0.22 acres House size: 2,599 square feet Buyer: Susan M. Mann Seller: Edward S. Jones and the Edward Skinner Jones Revocable Living Trust

Type: Single-family Lot size: 1.58 acres House size: 2,650 square feet Buyer: The Daugherty Joint Revocable Trust Seller: Mark F. and Alecia Bailey Previous sale: $1,499,000 in 2019

CLAY

2770 Russell Road, Green Cove Springs

500 Ocean Front, Neptune Beach

THURSDAY, SEPTEMBER 10, 2020

Type: Oceania condominium Condominium size: 3,105 square feet Buyer: Shirish K. and Hasu S. Doolabh Seller: Richard D. and Terri H. Schuster Previous sale: $750,000 in 2014

RESIDENTIAL REAL ESTATE

Top 10 home sales of week

ST. JOHNS

$1,300,000 7213 Middleton Ave., St. Augustine

1108 Palmer Terrace, Jacksonville Type: Single-family Lot size: 2.41 acres House size: Three buildings totaling 8,329 square feet Buyer: Daniel G. and Dorothy L. Fasbinder Seller: Mitchell W. Legler

Type: Single-family Lot size: 0.51 acres House size: 3,214 square feet Buyer: 10 Deep Properties LLC Seller: Richard D. Bivona Previous sale: $1,140,000 in 2016

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JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, SEPTEMBER 10, 2020

JaxDailyRecord.com

Top commercial sales of the week BY SCOTT SAILER • Staff Writer

Here are the top 10 commercial real estate sales in Northeast Florida, comprising Duval and St. Johns counties. The sales were recorded Aug. 31-Sept. 6.

File image

Brookdale Atrium skilled nursing and assisted living at 9960 Atrium Way sold for a total of $30.73 million.

DUVAL

ST. JOHNS

DUVAL

$15,362,500

$8,000,000

$4,573,800

$4,331,000

9960 Atrium Way, Jacksonville

5615 Seaboard Ave., Jacksonville

Greenbriar Road, Saint Johns

12145 San Jose Blvd., Jacksonville

Type: Brookdale Atrium Skilled Nursing Parcel size: 3.54 acres Building size: 45,111 square feet Buyer: Atrium CCRC Realty LLC Seller: BLC Atrium Jacksonville SNF LLC Previous sale: $3,850,000 in 2007

Type: Brookdale Atrium Assisted Living Parcel size: 14.75 acres Building size: 11 buildings totaling 180,599 square feet Buyer: Atrium CCRC Realty LLC Seller: BLC Atrium Jacksonville LLC Previous sale: $9,400,000 in 2006

Type: Timuquana Apartments Parcel size: 9.68 acres Buyer: Timuquana Affordable LLC Seller: SP Timuquana Limited Partnership Previous sale: $3,550,000 in 2004

Type: Undeveloped commercial Parcel size: 15 acres Buyer: First Coast energy LLP Seller: Helow Properties Ltd.

Type: Walgreens Parcel size: 1.29 acres Buyer: ICLER Investments LLC Seller: Shapiro Family Jacksonville LLC Previous sale: $4,230,000 in 2004

DUVAL

ST. JOHNS

$3,690,000

$3,600,000

$2,350,000

$2,300,000

$1,900,000

5135 Dunn Ave, Jacksonville

460 Lane Ave. S., Jacksonville

900 Canal St., Jacksonville

840 Edgewood Ave. S., Jacksonville

3930 and 3940 U.S. 1 S., St. Augustine

Type: Undeveloped portion of Dunns Crossing residential Parcel size: Approximately 132 acres Buyer: TFCC Dunn’s Crossing LLC Seller: HH Dunns Crossing LLC

Type: Jax Inn Parcel size: 2.48 acres Building size: Two buildings totaling 29,000 square feet No. of rooms: 78 Buyer: SNL One Inc. Seller: Vasu Express LLC Previous sale: $2,500,000 in 2017

Type: Warehouse Parcel size: 8.06 acres Building size: 34,600 square feet Buyer: Canal Street Partners LLC Seller: R.P. Lucas Properties LLC Previous sale: $500,000 in 1998

Type: Lofts at Murray Hill apartments and retail under construction Parcel size: 3.69 acres No. of units: 117 Retail size: 11,000 square feet Buyer: Lofts at Murray Hill Ltd. Seller: VC Murray Hill LLC

Type: Recovery center Parcel size: 7.89 acres Building size: 4,584 square feet Buyer: Bridge to Shore Recovery LLC Seller: Hanjing Shu and the Li Ming and Hanjing Shu Family Trust

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THURSDAY, SEPTEMBER 10, 2020

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College Park CONTINUED FROM PAGE 1

will be three floors high with 100 units each, Sifakis said. Units will 600 to 750 square feet. They are on outparcels south of the existing McDonald’s restaurant and BP gas station. The public open space is adjacent to the 53-unit apartment building and is 11,269 square feet. Ellianos is near the University Boulevard entrance to the shopping center. It operates one location in Jacksonville at 1125 Lane Ave. Sifakis said JWB is talking with “a couple” of grocers about opening in the shopping center. He is not sure which space in the center a grocer would occupy. “Our key right now is to get a grocer,” he said. “We’re making some good progress to get a grocer in there.” Sifakis said he still estimates the shopping center renovation to cost around $3 million and the new construction to cost around $7 million. JWB plans to update the facade, landscaping and signage at the property, a February news release said.

904-777-6000 · 1-800-445-6289 Special to the Daily Record

The shipping container outdoor food court and park and apartment buildings are planned for the southwest corner of the College Park shopping center.

JWB commissioned a mural called The Wall at College Park. Area artists have completed the “Arlington” artwork on the south end of the shopping center facing the expressway. The property is part of the Renew Arlington Community Redevelopment Area, which the city hopes to assist with rejuvenation. KGARWOOD@ JAXDAILYRECORD.COM (904) 356-2466

PEOPLE ON THE MOVE Promotions, hirings and happenings for business people in Northeast Florida. Send items to ssailer@jaxdailyrecord.com Gov. Ron DeSantis made two appointments to the St. Johns River Water Management District governing board: Florida Sen. Rob Bradley, of Fleming Island, is an attorney and managing partner with Bradley, Garrison and Komando. He has served as senator for Florida’s 5th District since 2012. Janet Price, of Fernandina Beach, is a senior manager of environmental affairs with Rayonier Inc. Price served as chair of the Water and Aquatic Biology Committee of the National Council

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DEVELOPMENT TODAY These are the largest commercial building permits by job cost issued Sept. 8 by the city of Jacksonville. AMUSEMENT RECREATION City of Jacksonville, 10440 Tournament Lane, contractor is Warden Contracting Corp., restroom and parking ADA improvements at Bent Creek Golf Course, $141,797. RESTAURANTS Exotic Hookah Lounge Cafe & Grill LLC, 6532 Beach Blvd., No. 2,

contractor is RJ Atlantic Builders Inc., 2,956 square feet, tenant build-out, $19,600. SIGNS T-Mobile, 11200 San Jose Blvd., No. 102, contractor is 75 Lighting & Signs LLC, two permits for awning signs, $1,000. Compiled by Scott Sailer * 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. 324365-1

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, SEPTEMBER 10, 2020

JaxDailyRecord.com

KATIE GARWOOD STAFF WRITER

CEO David Ergisi wants more health care options in the growing areas. Cross Regions Real Estate is embarking on two projects in Duval and St. Johns counties that will expand the company’s existing developments. Cross Regions CEO David Ergisi submitted an application to the St. Johns County Growth Management Department to rezone 41.33 acres in St. Johns County from rural residential to a planned unit development

for a mixed-use development. The property is adjacent to the Fountains at St. Johns and Fountains North projects that Cross Regions is developing at northeast Interstate 95 and County Road 210. Fountains East is designed for a hotel, a senior care facility, 320 multifamily units, medical office buildings and retail. It will be connected to Fountains at St. Johns and Fountains North. Ergisi said he expects construction on Fountains East to begin in the first quarter of 2021. He said all three parts of the development could be completed and opened in three years. Ascension St. Vincent’s announced July 24 it would build a 150,000-square-foot hospital on 33 acres in Fountains North. Construction is slated to begin this year and be completed in 2022. The Fountains at St. Johns sits on 23 acres. Confirmed tenants for the Fountains at St. Johns include Salsas Mexican Restaurant,

Special to the Daily Record

Fountains East is designed for a hotel, a senior care facility, 320 multifamily units, medical office buildings and retail.

Special to the Daily Record

Coastal Regions Northside Two LLC, led by Ergisi, is planning a development at northeast North Main Street and Max Leggett Parkway, near UF Health North hospital.

Green Papaya Restaurant, Culver’s, Dunkin’, Grumpy’s Restaurant, Mango Mango’s Caribbean Grill, Nail So Happy, Lil’ Voyagers Day Care, Bartram Dental Center, ENT Specialists of North Florida and Florida Eye Specialists. Ergisi said it is 90% leased. “The entire 100 acres will be interconnected,” he said of the three Fountains properties. “We will have walk paths from one property to the other.” Ergisi said he hopes employees in the hospital and medical offices will live in the multifamily units, and that patients and visitors to the hospital or doctors in the development will stop to eat and shop while they are there. “One business will support the other,” he said. “Everyone does something for the other partner, neighbor business. They all help drive more vol-

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Coastal Regions Northside Two LLC, led by Ergisi, paid $2 million for 6.79 acres in North Jacksonville along Outback Drive on Aug. 7. The site is at northeast North Main Street and Max Leggett Parkway, near UF Health North hospital. Last year, Ergisi said the first phase of development for the project he calls Duval Station would include a 5,000-squarefoot retail building and a 30,000-square-foot medical office building. The second phase will be developed on the 6.79 acres. It will include medical offices and retail, Ergisi said Sept. 3. Ergisi said he hopes to break

ground on the project this year. It is in the permitting and design phase. “With the UF hospital right around the corner, we feel that there is going to be an increased demand for medical practice groups to open their specialty offices,” he said. “The desire is to create a medical hub there that is close to the hospital in a rapidly growing area like River City Marketplace and the entire Northside area.” The site is about a mile from UF Health North. Build-to-suit and groundlease opportunities are available, he said. Ergisi purchased the 2.96 acres for the first phase in July 2019. It will total around 9 acres with the new acquisition. KGARWOOD@ JAXDAILYRECORD.COM (904) 356-2466

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