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2/1/2016 Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com 79° 77° 77° Now HOME NEWS SPORTS MONEY LIFE REASON Tomorrow OPINION OBITS eEdition Activate | Subscribe Wednesday MEDIA CLASSIFIEDS CARS JOBS HOMES DEALS TOOLS HOME 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 http://jacksonville.com/business/realestate/20160130/story/sundaybusinessnotebookchicagobuyerhistoriccorebuilding 1/8 2/1/2016 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. Jacksonville in a Box Somebody in Jacksonville Loves Me Greeting Card... $54.99 $4.00 BUY NOW BUY NOW From Jacksonville in … From Sugardove Des… 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. http://jacksonville.com/business/realestate/20160130/story/sundaybusinessnotebookchicagobuyerhistoriccorebuilding 2/8 2/1/2016 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. RECOMMENDATIONS FOR YOU 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. http://jacksonville.com/business/realestate/20160130/story/sundaybusinessnotebookchicagobuyerhistoriccorebuilding 3/8 2/1/2016 Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com 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. Open Water Scuba Diving Certification 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 DISCOUNT: 21% VALUE: $259 View Deal JUST IN Advanced Disposal announces potential IPO prices 3:47pm Jacksonville-area gas prices start to drop below $1.60 3:53pm Career Track: News about Jacksonville professionals 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 http://jacksonville.com/business/realestate/20160130/story/sundaybusinessnotebookchicagobuyerhistoriccorebuilding 4/8 2/1/2016 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. Good News: Missionary expected box of clothing for needy Hondurans but got truckful instead 8:29pm PAID PRESS RELEASES The Bluffs on Plummers Cove Offers New Homes in Old Mandarin by elacora VIEW ALL ITEMS | POST A RELEASE 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 http://jacksonville.com/business/realestate/20160130/story/sundaybusinessnotebookchicagobuyerhistoriccorebuilding 5/8 2/1/2016 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. [email protected], (904) 3594296 RECOMMENDED FOR YOU Personal Finance Center U.S. Rep. Corrine Brown has steered tens of thousands of dollars to unusual organization Hendricks Avenue Baptist Church rises from the ashes Jacksonville Arboretum is a hidden gem in the city http://jacksonville.com/business/realestate/20160130/story/sundaybusinessnotebookchicagobuyerhistoriccorebuilding NATIONAL AVERAGES Product Savings Mortgage Select a State: Florida Rate MMA 0.22% 6 month CD 0.35% 1 yr CD 0.54% 3 yr CD 0.95% 5 yr CD 1.32% Select a City: Select City Select a Product: 1year CD Search 6/8 2/1/2016 Sunday Business Notebook: Chicago buyer for historic core building in Jacksonville | jacksonville.com 5 yr CD 1.32% Powered by Interest.com NATIONAL AVERAGES Product Sunday Business Notebook: Sunday Business Notebook: PREV Good News: Missionary expected box of clothing for needy Hondurans but got truckful instead Sunday Business Notebook: NEXT Select a State: Florida Rate 30 yr fixed mtg 3.76% 15 yr fixed mtg 2.84% 5/1 ARM 3.14% 7/1 ARM 3.04% Powered by Interest.com Select a City: Select City Loan Amount: 165000 Select a Product: 30 yr fixed Search Piada Italian Street Food will open Jacksonville location Can Customers Find You? 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