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2/1/2016
Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com
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Sunday Business Notebook: Chicago
buyer for historic core building in
Jacksonville
By Roger Bull Sat, Jan 30, 2016 @ 5:18 pm | updated Sat, Jan 30, 2016 @ 5:34 pm
The Groover-Stewart building
downtown has been sold and is
headed for a renovation and new
occupants. A limited liability
corporation based in Chicago
paid $2.05 million for the fourstory, 53,000-square-foot
building.
The Grover­Stewart building
But Bobby Knight of Coastal Commercial Real
Estate, who brokered the deal with Fitch King of
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Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com
Morgar Realty, said American Credit Corp. of
This Week's Circulars
Boston will assume ownership.
It will renovate the building and occupy most of
it.
Knight said most of the building, 25 N. Market
St., has been vacant since the Public
Defender’s Office moved out in 2011.
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HOVER FOR CIRCULAR
It was built in 1925 as the Groover­Stewart
Drug Co. Building. The company was one of
Florida’s leading makers and distributors of
pharmaceuticals in the 1920s and ’30s.
The building was placed on the National
Register of Historic Places in 1992. The
application called it “the most elaborate of
Jacksonville’s four­story vernacular industrial
designs by the firm of Marsh & Saxelbye.”
HOVER FOR CIRCULAR
SALE
HOVER FOR CIRCULAR
HOVER FOR CIRCULAR
APARTMENTS
Multifamily complexes are continuing to sell.
Momentum Real Estate Partners of Miami paid $39 million for Terraces at Town Center,
5140 Gate Parkway. The 240­unit complex was built in 2013. Brian Moulder handled the
sale for CBRE.
Venterra Realty Management of Webster, Texas, paid $36,250,000 for the Links at Windsor
Parke apartments at 13700 N. Sutton Park Drive. The 280­unit complex was built in 1994
and last sold for $33.6 million in 2012.
DAILY’S IT IS
I had a story Tuesday about Daily’s planning a convenience store and gas station on
Hendricks Avenue between Dunkin’ Donuts and Hendricks Avenue Baptist Church. The
property had changed hands last month but I couldn’t find out the plans for it.
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Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com
Then I had a call from a reader asking “Is it true that Daily’s …?” A call to Daily’s confirmed it.
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So there you go, readers are great sources of information. Thanks.
U.S. Rep. Corrine
Brown has steered tens
of thousands of dollars
to unusual
organization
Meanwhile, Daily’s is looking at completely redoing its Shell gas station a little farther south
at San Jose and University boulevards. It’s still early in the process, but the station would
come down and be replaced by a full convenience store. The pumps would stay as they are,
though. There’s not enough room for more of those.
And it has land under contract for a new store on Florida 13, just south of Race Track Road
in St. Johns County.
Jacksonville
Arboretum is a hidden
gem in the city
JUMPING TO CIRCLE K
Speaking of convenience stores, all the Kangaroo Express stores in the area will start
becoming Circle K stores next month. Canada­based Alimentation Couche­Tard bought the
Pantry chain, and its major brand Kangaroo Express, a year ago for $1.7 billion.
Concert Review: Carrie
Underwood opens her
Storyteller Tour on
mammoth stage
It’s brought a few of its own changes to Kangaroo Express, including the Polar Pop sodas.
But it’s just starting to change all the names, which should take several months.
PLANS OFF DUNN
Jacksonville police
investigating North
Main Street fatal crash
A new three­building complex is going up on Monaco Drive, just off Dunn Avenue and just
west of I­95 on the Northside.
Ben Gottlieb is developing it and putting in a 4,000­square­foot, 24­hour laundry there. He
plans to lease the other 30,000 square feet out.
He’s hoping for a doctor’s office or perhaps a 24­hour urgent care facility.
Tier 1 Construction is doing the $1.03 million construction and the $70,000 build­out on the
laundry. Gottlieb paid $535,000 for the 2.4 vacant acres last year.
O’STEEN’S UPDATE
Last week’s column had an item about O’Steen’s Auto Body buying the former Kabuto
Sunday Business
Notebook: More growth
in Jacksonville's medical
community
Sunday Business
Notebook: Hobby Lobby
planning store in The
Strand
restaurant on Atlantic Boulevard at Tresca Road. Owner Mark O’Steen has since told me
that he does plan to expand his shop there. He thought about bulldozing the building, but it
turned out to be so solid he’s renovating it into a body shop.
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He expects the renovation to take four to six months and said he’ll hire another dozen people
or so when it opens. He’s also keeping the shop further up Tresca that he’s had for 20 years.
WESTSIDE BUYS
Pattillo Industrial Real Estate has made a couple of significant purchases on the Westside.
It paid $7.5 million for a 137,968­square­foot building on 7 acres at 6595 Pritchard Road,
Convenience store, gas
station planned for
Hendricks Ave.
just east of I­295. Vice President Peter Anderson said the building is leased.
Sunday Business
Notebook: Apartments
planned near Town
Center
But Pattillo also paid $7,175,000 for 96 vacant acres farther west on Pritchard. There,
Anderson said, it plans to build two or three distribution­type buildings to lease out. It could
handle up to 1.5 million square feet, he said, and he expects it to happen in the next five
years.
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ORIG:
SAN MARCO, SAWGRASS
Scout & Molly’s boutique will open its first North Florida locations. One is going into 960 San
Marco Blvd., on the square. The other will be in Sawgrass Village in Ponte Vedra Beach.
The women’s boutique is based in North Carolina and has 10 stores, with 13 more being
planned.
A spokeswoman for Franklin Street, which negotiated the lease, said the franchisees have
other locations in the works.
PERMITS
3114 Philips Highway, expansion of assisted living city New Horizons Healthcare,
$36,000, 680 square feet, True Blessings Construction.
10299 Southside Blvd., Pond & Co. expansion, $143,360, 2,900 square feet, C. Harrison
Construction.
8500 Baycenter Road, new office for Promo Depot inside warehouse, $378,651, 8,766
square feet, Lighthouse Construction of North Florida.
40 E. Adams St., interior build­out at Jessie Ball duPont Center, $330,000, 128,375 square
feet, Danis Construction.
$329
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VALUE:
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JUST IN
Advanced Disposal announces potential
IPO prices
3:47pm
Jacksonville-area gas prices start to
drop below $1.60
3:53pm
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2:22pm
Piada Italian Street Food will open
Jacksonville location
3:09pm
Sunday Business Notebook: Chicago
buyer for historic core building in
Jacksonville
5:34pm
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Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com
3540 St. Johns Ave., renovations to Avondale Bike Shop, $22,857, 1,958 square feet,
Southern Atlantic Cos.
5306 N. Main St., tenant build­out for Charley’s Liquors, $43,400, 3,261 square feet, Prism
Design & Construction.
6701 Philips Industrial Blvd., Frito­Lay warehouse expansion with 15 docks, $2,393,037,
21,940 square feet, CHA Tech Services.
909 Arlington Road, convert former restaurant into Shores Liquor, $52,234, FGC Inc.
Shores Liquor paid $625,000 for the property in December.
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clothing for needy Hondurans but got
truckful instead
8:29pm
PAID PRESS RELEASES
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901 Cesery Blvd., tenant build­out for Billy’s Liquor Store, $50,350, 1,170 square feet,
Orlando Constructors.
10375 Centurion Parkway N., tenant build­out for Teksystems, $248,169, 8,000 square
feet, Adams Interior Contractors.
2294 Mayport Road, tenant build­out for Four Seasons massage, $12,500, 100 square feet,
Platinum Builders of Palatka.
12276 San Jose Blvd., tenant build­out for GY Management, $42,000, 992 square feet,
Zeus Contracting.
13340 International Parkway, improvement of Eagle View office area, $199,800, 8,533
square feet, New Leaf Construction.
9000 Southside Blvd., interior renovation of fourth floor, Bank of America Building 200,
$658,425, The Angelo Group.
3041 Dolly Drive, demolition of fire­damaged warehouse, $27,940, Realco Recycling.
10475 Centurion Parkway N., renovation and replacement of MRI equipment at Southeast
Orthopedic, $145,000, Blake Contracting.
1751 Talleyrand Ave., converting space at JM Family Enterprises to cafeteria, $198,7000,
5,776­square­foot, Auld & White Constructors.
SALES
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Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com
Core Property Capital of Atlanta paid $23.5 million for 63 acres on Town Center Parkway,
across the street from St. Johns Town Center. In plans announced Friday in the Times­
Union, an agent for the development said leases have been signed for a full­service
hamburger chain, Brazilian steak house, fast­casual Italian restaurant, mattress store, coffee
shop, dental/medical office and grocery store. None were named.
Plans also call for two hotels with a lakefront restaurant and apartment buildings. Work on
the retail buildings is expected by summer.
Al and Suela Mansur paid $1.3 million for the 2,356­square­foot home at 51 Beach Ave., on
the ocean in Atlantic Beach. It was built in 1925 and last sold for $725,200 in 2015.
Janet and Douglas Ross paid $1,225,000 for a 3,000­square­foot condo in Villa Riva, 2358
Riverside Drive. It sold for $1,265,000 in 2007 and last sold for $775,000 in 2011.
Homebuilder D.R. Horton paid $1 million for 25 lots in Cedarbrook, off Cedar Point Road in
North Jacksonville.
First Coast Health Ventures of Jacksonville paid $2,850,158 for 9.8 vacant acres at the
corner of Max Leggett Parkway and Owens Road.
roger.bull@jacksonville.com,
(904) 359­4296
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