Main Street Place at Oceanway LLC paid almost $9.7 million April 6 for the Main Street Place shopping center at 12961 N. Main St. in North Jacksonville.
The 45,505-square-foot center was developed in 2005-06 on 7.76 acres.
Main Street Place bought the property from First Coast Land Development Inc. Valley National Bank of West Palm Beach financed the deal with an almost $6.65 million mortgage.
Jonathan Heldenbrand, managing director and president of Proper Commercial Real Estate, represented the buyers’ group.
“That site was developed before the large River City Marketplace and has thrived since day one,” he said by email April 13.
Heldenbrand said the property is fully leased. Anchors are Casa Maria Authentic Mexican Restaurant, Wing-It, Jacksonville Orthopaedic Institute and Fresenius Kidney Care.
“Our plans are to keep reinvesting into the property to keep it as one of the Northside’s best community centers. We believe in the growth of the area,” Heldenbrand said.
“We purchased the property from a seller who took great care and pride in the asset,” he said.
Heldenbrand said he leads the ownership group as the asset and investment manager along with Reekee Patel. State corporate records show the LLC managers as Reekee Patel, Rupesh Patel and Parth Patel.
First Coast Land Development is led by President Patty Griffin and Vice President James Griffin.
Heldenbrand said Lynn Johnson of Johnson Enterprises Inc. represented the seller. NAI Hallmark will manage the daily property operations.