The St. Johns County Board of County Commissioners approved an agreement Aug. 6 authorizing $107,224 in economic incentives for developer Pavo LLC to build a speculative industrial/office space near World Golf Village.
The estimated cost for the 22,680-square-foot project is $5 million. The 2.97-acre site is near International Golf Parkway at Commerce Lake Drive and Center Place Way and Interstate 95.
The commission directed Deputy County Administrator Collin Groff to draft the incentives agreement June 4 after reviewing the proposal.
The project scored the highest rating of five in the speculative space category of the county’s business incentive program, making it eligible for expedited permitting and an economic development incentive of up to 100% of impact and water/sewer fees paid to the county and four years of ad valorem taxes paid on capital improvements.
The $107,224 Economic Tax Incentive Rebate will be paid out starting with $18,429 in 2027.
“We want to provide an upscale office/warehouse mix for the offices and possible showroom/meeting needs,” according to Pavo’s application.
Site plans show 49 parking spaces. It also identifies a second-phase 21,704-square-foot adjacent building that is not part of the incentives request. The application says the expansion will depend on the success of the first phase.
The commercelakeoffices.com website says that “after failing to find a commercial space that combined office, showroom and warehouse,” it decided to create its own.
“We offer open floor plans and will provide custom interiors with an in-house architect and builder,” it says. Tenants can lease or own at the site.
Pavo is based in Sheridan, Wyoming, and has an office in Sarasota. Pavo is Latin for peacock, according to the developer.
The property owner is Gendreau Holdings LLC of Jacksonville. It bought the site in 2015 from First Southern Bank for $275,000.