Ownership of the Westside Industrial Park expanded its holdings in West Jacksonville and expects to file plans soon for a speculative multitenant building.
Atlanta-based Pattillo Industrial Real Estate, through Imeson Industrial Park Land LLC, paid $6.73 million for 115 acres along Imeson Road, adjacent to the 960-acre Westside Industrial Park.
That boosts its overall Jacksonville property holdings to more than 1,400 acres. It also owns the 362-acre NorthPoint Industrial Park.
The Imeson Road land was sold in November by Greenfield Partners LLC, which purchased the site when it bought Liberty Property Trust’s Jacksonville property portfolio in late 2013.
Most of Liberty Property Trust’s holdings were office buildings in Southside. The vacant Imeson Road land is zoned for light industrial use.
Pattillo Vice President Peter Anderson said Tuesday about 80 of the 115 acres can be developed. The company plans three or four buildings totaling up to 1.3 million square feet of space.
Anderson said he hopes to start seeking approvals for a 150,000-square-foot building within 30 days.
Pattillo buys and develops industrial land and buildings throughout the Southeast United States. It also builds structures to suit for tenants.
Anderson is in charge of acquisitions and build-to-suits in Florida and the Atlantic coastal markets.
“Liberty Property did a nice job in preparing that property for development,” Anderson said.
Anderson said the property is considered an extension to Westside Industrial Park.
“It was a convenient time for them to sell and it was a convenient time for us to buy, so we did,” he said.
Pattillo owns more than 7 million square feet of industrial space in Jacksonville at Westside Industrial Park and NorthPoint Industrial Park, in North Jacksonville.
Gonzales boosts suburban holdings
Jacksonville investor David Gonzales, through Acorn Butler Pointe LLC, added to his group’s Southside office portfolio last week and intends to remodel his latest purchase.
Gonzales bought the almost 170,000-square-foot Butler Pointe building for $12 million and took out a $9.6 million mortgage from Wells Fargo Bank.
“My plans are to restore it to its former glory,” Gonzales said Monday.
The five-story building, at 4500 Salisbury Road, was built in 1986 and sits on 8.06 acres, property records show.
Gonzales said he plans to invest about $200,000 to restore the structure. He intends to improve and rebuild the lobby and entrances, remodel and “liven up” the five-story atrium, clean and polish the granite floors, and upgrade the exterior.
He hopes to complete that within 120 days. He said the building is 75 percent leased.
Gemini Rosemont, based in Santa Fe, N.M., sold the property through BGK Butler Pointe LLC. It paid $24.3 million for the Southpoint-area property in 2007.
Gonzales is president of Acorn Property Holdings LLC. The company’s website shows it owns eight more properties, some with multiple buildings, in the Southpoint, Baymeadows and Deerwood Park area. He created the LLC in 2012.
Gonzales said he owns more than 923,000 square feet of commercial space. He also owns Southpoint Self Storage, which was upgraded.
Acorn Property Holdings says it cost-effectively renovates its properties. It manages its holdings through its Acorn staff and says leasing is facilitated through its partner, Corvus Commercial Realty.
NAI Hallmark Partners said last week it represented the seller in the deal. Butler Pointe’s anchor tenants include the University of Phoenix, AT&T and Regency Electric.
Gonzales said he represented himself as the buyer.
DeBartolo sells Holiday Inn Express & Suites
DeBartolo Development of Tampa sold the Holiday Inn Express & Suites along New Berlin Road last week for $5.05 million.
The hotel was acquired by Touchmark Hotel Group LLC of Pooler, Ga. Touchmark, led by managing member Rohit Patel, was issued an almost $4.09 million mortgage from Crestmark Bank of Troy, Mich.
The deed and mortgage were executed Dec. 23 and recorded with the Duval County Clerk of Court on Dec. 28.
The 73-room, three-story hotel was developed in 2004 on 2.39 acres at 10148 New Berlin Road, near the JaxPort Cruise Terminal.
DeBartolo sold the property through Liberty Jacksonville Investments LLC.
Council to review Broadstone rezoning
City Council is reviewing the rezoning ordinance for the Broadstone River House apartments on the Southbank.
Property owner Riverwalk Jacksonville Development LLC wants to rezone 3.8 acres at 1501 Riverplace Blvd. from one Planned Unit Development District to another to permit the multifamily development and a waterfront pedestrian plaza.
Alliance Residential Co. of Phoenix proposes to buy the land and build up to 263 units on 3.47 acres of the site.
The rest of the land will be passive open space, active recreation or open space and 0.4 acre for public and private right of way.
There will be sidewalks on the east and west sides of the structure to provide public access to the Southbank Riverwalk and the proposed riverfront pedestrian plaza.
The project is designed as two buildings and a parking deck between Prudential Drive and the south bank of the St. Johns River, east of the Lexington Hotel & Conference Center Jacksonville Riverwalk.
Alliance Residential said in September that, pending approvals, it would like to start construction by early second quarter 2016 and complete the project in early 2018.
Ordinance 2015-849 was introduced Dec. 8.
Laney & Duke sells warehouse
Laney & Duke Terminal Warehouse Inc. sold a warehouse at 2020 W. 26th St. to Clarion Partners for $2.99 million.
The deed was executed and recorded Dec. 22 with the Duval County Clerk of Court.
The warehouse, with more than 203,000 square feet of space, was built in 1970 and occupies 7.8 acres. It is north of Downtown, near the Springfield and Talleyrand areas.
J.R. Richardson and Bryan Bartlett of Newmark Grubb Phoenix Realty Group are the leasing agents. Richardson said a 43,000-square-foot tenant occupies the building and about 160,000 square feet is available for lease.
New York-based Clarion is a real estate investment manager with offices in the U.S. and internationally. The Dallas-based office is listed as the address for the buyer, LIT LD JAX 26 LLC.
Zumiez to open Jacksonville store
Zumiez, an action sports and streetwear retailer, intends to lease 2,501 square feet in The Avenues mall.
The city is reviewing a building-permit application for Zumiez Inc. at the Southside mall. The company operates 659 stores, including at the Orange Park Mall.
Based in Lynnwood, Wash., Zumiez sells clothing, footwear, accessories and hard goods for young men and women. It operates under the names Zumiez and Blue Tomato.
Dollar General plans Emerson site
Gainesville-based Concept Development Inc., which develops Dollar General stores, applied for a mobility-fee certificate from the city for a 7,500-square-foot store at 2180 Emerson St.
The 2.96-acre site is near Freeman Road. An 11,700-square-foot warehouse occupies the site.
Concept Development typically razes the site and builds new structures for Dollar General.
Waffle House going up in Mandarin
A city concurrency application shows a proposed Waffle House at 11839 San Jose Blvd., south of Loretto Road.
The landowner has a contract with Waffle House Inc. for a portion of the property there, according to the filing. The plans also show an Express Oil Change at the location.
There are 18 Waffle House restaurants in Northeast Florida, according to the company’s website.
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