Gateway Jax bought a 2.76-acre site at 940 N. Main St. on May 22 from Florida State College at Jacksonville for $4.6 million.
The property is adjacent to the Pearl Street District, the proposed $500 million first phase of the mixed-used development that Gateway Jax partners and developers propose in the Downtown NorthCore.
The site comprises a three-story, 16,406-square-foot office building that was built in 1974 and two additional buildings.
It is bordered by State, Main and Laura streets.
Gateway Jax bought the property through Ocean Hart LLC.
It partnered with DLP Capital and JWB Real Estate Capital on the purchase.
Gateway Jax said in an email that it has no immediate plans for the property.
“The site is adjacent to FSCJ’s Downtown Campus and nearby Gateway Jax’s first phase of development along Pearl Street. The property was acquired as it is accretive to the company’s current holdings, and enhances its vision for downtown. While there are no immediate plans for development on this parcel, we look forward to sharing development plans with you in the future.”
Gateway Jax purchased more than 20-plus Downtown blocks and says it plans to spend more than $2 billion to build-out 22 acres over the next 10 years.
In the first phase, Gateway Jax plans at least 1,000 studio, one-, two- and three-bedroom market-rate apartments and 99,000 square feet of retail space, including at least one grocery store.
Gateway Jax has said it intends to acquire additional properties near the Pearl Street District.