Sleiman Enterprises sold the Academy Sports + Outdoors store in Southside Square to an investor in Texarkana, Arkansas, for $9.8 million.
Sleiman sold the property to 9041 Southside LLC on Jan. 29.
Duval County property records show the 78,000-square-foot building was developed in 1991 at 9041 Southside Blvd., No 157-158. BancorpSouth Bank of Texarkana, Texas, financed the deal with a $7.84 million mortgage.
The property sold comprises about 5.47 acres.
The Academy Sports + Outdoors store will not close and the sale has no impact on the store's business operations, said John Byczek, senior public relations specialist for the company.
"This was only a real estate transaction by the landlord," Byczek said.
COO Michael McNaughton said Feb. 2 that Sleiman owned a “shadow-anchor” position as a piece to a larger property owned by others.
“Sleiman is constantly reviewing our portfolio and seeking ways to advance our holdings across the southeastern United States,” McNaughton said in an emailed statement.
“Periodically, we elect to take advantage of opportunities to diversify our footprint and divest of non-core assets and recycle that capital into new investments.”
He said he was unable to disclose Sleiman’s intended use of the money.
Sleiman sold the property through Property Management Support Inc. as trustee of Shamrock Land Trust.
Sleiman bought the property in 1998 from Mervyn’s for $5.1 million.
The space housed Circuit City and Linens ‘n Things before being remodeled in 2013 for Academy Sports + Outdoors.