The landlord and tenant representatives at River City Marketplace have not identified the wholesale club that will replace the Regal cinemas at the North Jacksonville, but an investor presentation indicates it could be BJ's Wholesale Club.
Landlord RPT Realty is an open-air shopping center real estate investment trust based in New York. Its 50-page first-quarter 2022 investor presentation for the three months that ended March 31 presents information about its portfolio of 57 multitenant properties.
A Page 19 screen about “Upgrading Tenancy” shows nine properties, including River City Marketplace. It says the “former tenant” of Regal Entertainment Group will become a National Wholesale Club.
A Page 24 screen says it is reducing its space among its portfolio that is leased to five national tenants and it lists five “Potential New Tenants” comprising Chase, an unidentified grocer, Aldi, Publix and BJ’s.
BJ’s was the only wholesale club on that list.
Photos of the River City Marketplace wholesale club on pages 25 and 27 feature the building design and colors but without the BJ’s name.
The Page 27 screen labeled “Remerchandising” indicates the theater will be removed and a wholesale club built.
As reported, RPT Realty said May 4 in its first-quarter report to investors that it signed a 103,000-square-foot wholesale club to replace the movie theater.
The report didn’t offer a timeline or the name of the wholesale club. The Regal remains open.
RPT Realty and BJ’s, based in Westborough, Massachusetts, have not responded to emails for comment.
JEA received a utility service availability request Nov. 15 for demolition of the Regal building for construction of a wholesale club.
The 60,025-square-foot, 14-screen Regal River City Marketplace, at 12884 City Center Blvd., was built in 2006.
The Duval County Tax Collector’s website shows the Regal property is owned by Ramco Jacksonville LLC based in Farmington Hills, Michigan.
Ramco Properties announced in 2018 that it was changing its name to RPT Realty.
Wholesale club stores in Jacksonville include BJ’s Wholesale Club, Costco Wholesale Co. and Sam’s Club.
BJ’s operates three Northeast Florida stores, with one in Orange Park and two in Jacksonville at southeast Kernan and Atlantic boulevards and at northwest Philips Highway and Baymeadows Road. It also operates a regional distribution center in West Jacksonville.
BJ’s range from 70,000 to 130,000 square feet, averaging about 111,000 square feet.
Costco has two stores in Jacksonville and one under construction in St. Johns County near World Golf Village. The St. Johns Costco is 162,000-square-feet. The Parramore Road Costco is 154,568 square feet.
Sam’s Club has three stores in Jacksonville, including one about 5 miles south of River City Marketplace along Busch Drive. That Sam’s is about 114,000 square feet.
Managing Editor Monty Zickuhr contributed to this report.
