TSG Realty announced Sept. 8 it bought the San Marco Square properties anchored and leased by the San Marco Theatre and Stellers Gallery for $3.35 million.
It bought the properties from San Marco Real Estate Partnership LLC.
TSG Property Manager Pamela Howard said the properties at 1990-1996 San Marco Blvd. total about 10,000 square feet and include an adjacent retail space.
“The longtime owner of these properties approached us directly to discuss selling and we were delighted to add to our portfolio in San Marco Square,” Howard said.
“We think San Marco Square is the best location in Jacksonville and these iconic properties rarely become available for sale.”
San Marco Theater is a two-screen property at 1996 San Marco Blvd.
“COVID and streaming video have been extremely hard on movie theaters across the county and that was a factor in the owner wanting to sell now,” Howard said.
Howard said the theater has a lease “and will continue to operate to the best of our knowledge.”
Stellers Gallery is under lease at 1900 San Marco Blvd.
Property records show the theater comprises 5,421 square feet of space. The gallery and adjacent retail space total 4,372 square feet of space.
The third bay between the theater and the gallery is not occupied.
Both buildings were developed in 1938 and together sit on 0.28-acre.
San Marco Real Estate Partnership LLC is managed by John Curington, Keith Kimball and Joyce Kimball, longtime San Marco property owners.
Howard said the transaction was financed by Dan Jackson and Mitch Hunt of SouthState Bank.
It is the second San Marco Square purchase TSG announced in six weeks.
TSG Realty said July 26 it paid $2.9 million for the San Marco Square building leased to Fore Score Golf Tavern.
The Jacksonville real estate company said it bought the 4,270-square-foot building at 1407 Atlantic Blvd. that Fore Score will occupy under a long-term lease.
TSG Realty bought the property from England Allen Holdings LLC.
Howard said Jackson and Hunt of South State Bank also financed that transaction.