14 minute read
planned in San Marco
Big news doesn’t break just on Thursday. Here’s a look at some of the top stories published over the past week online at JaxDailyRecord.com and in the Jacksonville Daily Record that you may have missed.
Daily RecordJACKSONVILLE
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ABOUT US
Jacksonville Daily Record and Jacksonville Record & Observer are a division of East San Marco Observer Media Group Inc. Established in 1912, the Financial News & Daily Record, now the Jacksonville Daily Record, is published Monday-Friday and is the Official Court Newspaper of the Circuit Court and publisher of public notices in Duval County. Jacksonville Record & Observer is a free weekly business newspaper available in Downtown Jacksonville and key business nodes throughout Jacksonville. To find a location near you, visit jaxdailyrecord.com/rack-locations. Editorial content focuses on news and trends, with a concentration on development, real estate, construction, law, companies, economic and industry trends and how local and state government affects business. Toll Brothers San Marco town house site
REAL ESTATE Town houses planned for San Marco
Toll Brothers filed plans with the city could not be reached for comment.
Feb. 9 for a 27-unit town house com- Kimley-Horn and Associates is the munity one block east of the Publix- civil engineer and landscape architect anchored East San Marco shopping on the project. center development. STAFF A Wells Fargo bank branch sits on The 1.03-acre property is bounded the block between the town house Publisher / Matt Walsh mwalsh@jaxdailyrecord.comby Atlantic Boulevard, Arcadia Place, Alford Place and Minerva Avenue. Director of Advertising / Jay Lesowitz jlesowitz@jaxdailyrecord.comsite and the East San Marco development. It is across Arcadia Place from Publisher Emeritus / James F. Bailey Jr. jbailey@jaxdailyrecord.comToll Brothers is a luxury builder based in Philadelphia. The company Advertising Coordinator / Codi Gildberg adassist@jaxdailyrecord.com Fletcher Park. Editor / Karen Brune Mathis Legal Advertising Manager / Janet Mohr kmathis@jaxdailyrecord.com legal@jaxdailyrecord.com Managing Editor / Monty Zickuhr mzickuhr@jaxdailyrecord.com Legal Advertising Associate / Rhonda Fisher rfisher@jaxdailyrecord.com PulteGroup to build Wildlight Del Webb community Associate Editor Legal Affairs / Max Marbut mmarbut@jaxdailyrecord.com PulteGroup announced Feb. 15 it will build its third Northeast Florida Network Administrator / Erik Wagner webadmin@jaxdailyrecord.com The development will be along Curiosity Avenue adjacent to Wildlight Staff Writer / Katie Garwood kgarwood@jaxdailyrecord.com Staff Writer / Mike Mendenhall mmendenhall@jaxdailyrecord.com Business Manager / Angie Campbell acampbell@jaxdailyrecord.com Del Webb community on 226 acres in Wildlight. Wildlight is the master-planned 2,900-acre community in Nassau County along Florida 200 between Interstate 95 and U.S. 17. Raydient Places + Properties is the developer. Court Typeset / Paula Steiner admin@jaxdailyrecord.com Director of Circulation / Anne Shumate subscriptions@jaxdailyrecord.com Distribution / Tim Reagan distribution@jaxdailyrecord.com Elementary School. “We just identified Nassau County as a perfect place for active adults to retire to whether they’re Florida locals or coming in from out of state,” said Tony Nason, vice president of operations for PulteGroup’s North Florida division. Del Webb is designed for active Pulte plans up to 660 single-family
PRESS RELEASE/INQUIRY/REPRINTSadults age 55 and older, the news release said. Model homes are expected homes. It will offer 16 floor plans from 1,343 to 3,339 square feet. Homes Submit a press release or editorial inquiry online to open in early 2022. prices will start in the $200,000s. jaxdailyrecord.com/submit-news-release or email editorial@jaxdailyrecord.com. Article reprints are available at jaxdailyrecord.com
HEALTH CARE
HOW TO SUBSCRIBE Subscribe online at jaxdailyrecord.com/subscribe or contact our subscription Walmart plans two more health clinics department by phone at (877) 231-8834 or email subscriptions@jaxdailyrecord.com Walmart wants to build two more at 11900 Atlantic Blvd. and 4250 Philhealth clinics in Jacksonville in addition ips Highway.
PRICESto the first two planned in West Jack- Each carries an estimated con2 years ...................................$154 sonville and another in Middleburg. Thursday only ..........$66 per year struction cost of $350,000 for the 1 year........................................$89 The city is reviewing permit applica- Single copy......................35 cents 6,510-square-foot additions. Those 6 months .................................$55 tions submitted Feb. 15 for the retailer costs are subject to change as conto add the clinics to its Supercenters tractors bid on the projects.
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Display & Digital Advertising: Call Jay Lesowitz at (904) 356-2466 or email advertise@jaxdailyrecord.comTHE DAILY BRIEF Legal Advertising: Submit public notices via email to legal@jaxdailyrecord.com There’s a shortcut to staying in the loop FOLLOW US Don’t miss a story. Subscribe to the Daily Brief and we’ll send our top news to you Monday-Friday morning via email. To sign up, visit JaxDailyRecord JaxDailyRecord.com and look for the “Sign up” box, enter your email and you’ll be set.
POSTAL INFORMATION
Jacksonville Daily Record (USPS 190-620) is published daily except Saturday, Sunday & legal holidays (New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas) by Daily Record & Observer LLC, 121 W. Forsyth St., Suite 150, Jacksonville, FL 32202. Periodicals postage paid at Jacksonville, Florida LETTERS TO THE EDITOR and at additional mailing offices. Under no circumstances will any news or records of Duval County be suppressed for anyone. Information in this newspaper is for our You can submit a letter to the editor via email at editorial@jaxdailyrecord.com or subscribers only and must not be used by anyone for publication purposes. mail to 121 W. Forsyth St. Suite 150, Jacksonville, Florida, 32202.
POSTMASTER Your editorial was outrageous self-dealing
Send address changes to Jacksonville Daily Record, P.O. Box 15456, North Hollywood, CA, 91615-9965 Over the years, I have seen many self-serving editorials in a long career as a journalist. But yours of Feb. 4 ognize hypocrisy when I see it. If you think the Daily Record should get public notices, give the argument
OFFICIAL DESIGNATIONStakes the prize as the most outrageous self-dealing on the part of a publisher for that, but don’t dress it up as being in the public interest. The Official Court yet. The Official Newspaper The Official Newspaper for And attacking Republicans may be Newspaper of Duval of The Jacksonville Bar the U.S. Bankruptcy Court Calling for letting the marketplace to serve your need for virtue signallng, County by Order of the Association, Nov. 21, 1926. for the Middle District of to decide is synonymous with asking but it will do little for the health of Circuit Court, July 7, 1961.for the public notices for your own Florida, Jan. 4, 1947.your newspaper. periodical, which is clearly what you are doing. AFFILIATIONSJOHN MOTAVALLI Florida Press AssociationI have no dog in this fight, but I rec- JACKSONVILLE
Daily RecordJACKSONVILLE
HOW TO REACH US 121 W. Forsyth St., Suite 150, Jacksonville, FL, 32202 Phone: (904) 356-2466, Fax (904) 353-2628Daily RecordJACKSONVILLE jaxdailyrecord.com
ABOUT US Jacksonville Daily Record and Jacksonville Record & Observer are a division of Observer Media Group Inc.Daily RecordJACKSONVILLE Established in 1912, the Financial News & Daily Record, now the Jacksonville Daily Record, is published Monday-Friday and is the Official Court Newspaper of the Circuit Court and publisher of public notices in Duval County. Jacksonville Record & Observer is a free weekly business newspaper available in Downtown Jacksonville and key business nodes throughout Jacksonville. To find a location near you, visit jaxdailyrecord.com/rack-locations. Editorial content focuses on news and trends, with a concentration on development, real estate, construction, law, companies, economic and industry trends and how local and state government affects business.
Daily RecordJACKSONVILLE
STAFF
Publisher / Matt Walsh mwalsh@jaxdailyrecord.com Publisher Emeritus / James F. Bailey Jr. jbailey@jaxdailyrecord.com Editor / Karen Brune Mathis kmathis@jaxdailyrecord.com Managing Editor / Monty Zickuhr mzickuhr@jaxdailyrecord.com Associate Editor Legal Affairs / Max Marbut mmarbut@jaxdailyrecord.com Staff Writer / Katie Garwood kgarwood@jaxdailyrecord.com Staff Writer / Mike Mendenhall mmendenhall@jaxdailyrecord.com Business Manager / Angie Campbell acampbell@jaxdailyrecord.com Director of Advertising / Jay Lesowitz jlesowitz@jaxdailyrecord.com Advertising Coordinator / Codi Gildberg adassist@jaxdailyrecord.com Legal Advertising Manager / Janet Mohr legal@jaxdailyrecord.com Legal Advertising Associate / Rhonda Fisher rfisher@jaxdailyrecord.com Network Administrator / Erik Wagner webadmin@jaxdailyrecord.com Court Typeset / Paula Steiner admin@jaxdailyrecord.com Director of Circulation / Anne Shumate subscriptions@jaxdailyrecord.com Distribution / Tim Reagan distribution@jaxdailyrecord.com
PRESS RELEASE/INQUIRY/REPRINTS
Submit a press release or editorial inquiry online jaxdailyrecord.com/submit-news-release or email editorial@jaxdailyrecord.com. Article reprints are available at jaxdailyrecord.com
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Subscribe online at jaxdailyrecord.com/subscribe or contact our subscription department by phone at (877) 231-8834 or email subscriptions@jaxdailyrecord.com
2 years ...................................$154 1 year........................................$89 6 months .................................$55
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Thursday only ..........$66 per year Single copy......................35 cents
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Display & Digital Advertising: Call Jay Lesowitz at (904) 356-2466 or email advertise@jaxdailyrecord.com
Legal Advertising: Submit public notices via email to legal@jaxdailyrecord.com
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JaxDailyRecord
POSTAL INFORMATION
Jacksonville Daily Record (USPS 190-620) is published daily except Saturday, Sunday & legal holidays (New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas) by Daily Record & Observer LLC, 121 W. Forsyth St., Suite 150, Jacksonville, FL 32202. Periodicals postage paid at Jacksonville, Florida and at additional mailing offices. Under no circumstances will any news or records of Duval County be suppressed for anyone. Information in this newspaper is for our subscribers only and must not be used by anyone for publication purposes.
POSTMASTER
Send address changes to Jacksonville Daily Record, P.O. Box 15456, North Hollywood, CA, 91615-9965
OFFICIAL DESIGNATIONS
The Official Court Newspaper of Duval County by Order of the Circuit Court, July 7, 1961. The Official Newspaper of The Jacksonville Bar Association, Nov. 21, 1926. The Official Newspaper for the U.S. Bankruptcy Court for the Middle District of Florida, Jan. 4, 1947.
Regency Centers: 97% of tenants open
MARK BASCH CONTRIBUTING WRITER
The mall owner still is concerned about a “reverse course” scenario of pandemic reclosures.
Nearly a year after the COVID-19 pandemic forced widespread business shutdowns, Regency Centers Corp. says 97% of the tenants in its shopping centers are open.
However, the Jacksonvillebased company is remaining cautious in its outlook in case a “reverse-course” scenario forces closures again in 2021.
“Despite a rise in cases in most markets and increased restrictions in some, we have been encouraged by continued improvement in our operating results and this is driven by further meaningful progress on rent collections,” CEO Lisa Palmer said last week during Regency’s quarterly conference call with analysts.
Regency reported fourthquarter funds from operations of 76 cents a share, down from $1 the previous year.
That was an improvement from its FFO of 61 cents in the second quarter and 60 cents in the third quarter of 2020 as the impact of the pandemic affected its tenants.
The results beat the consensus forecast of 72 cents by analysts surveyed by Zacks Investment Research.
FFO measures earnings excluding certain noncash charges and is a commonly used analytic for evaluating the performance of real estate investment companies.
Regency had collected 92% of fourth-quarter rents as of Feb. 8 at its 411 properties across the country, many of which are grocery-anchored shopping centers.
“The hardest hit categories however, especially in the more restricted markets, are still lagging,” Palmer said.
“Many entertainment, fitness, sit-down restaurants, and personal service centers are still either not allowed to open or are operating with severe capacity restrictions. This has had the greatest impact on our local small shop operators,” she said.
Regency’s properties were 92.3% leased at the end of 2020. All but two of its 19 properties in the Jacksonville market exceeded 90% occupancy. The exceptions were the Mandarin Landing center anchored by Whole Foods in South Jacksonville at 89.1% and the South Beach Regional center anchored by Home Depot and Trader Joe’s in Jacksonville Beach at 85.8%.
A Stein Mart store in the Jacksonville Beach center on Florida A1A north of Butler Boulevard closed in October as that Jacksonville-based retailer went out of business.
Office Depot closed its store in Mandarin Landing on San Jose Boulevard north of Interstate 295 in November.
Regency also reported its planned East San Marco center anchored by a Publix supermarket is 74% leased as construction begins on the property at 2039 Hendricks Ave.
It announced Feb. 16 that OrangeTheory Fitness also will lease there but did not name any others.
The company’s report said it expects to start collecting rents from East San Marco in the second half of 2022.
Regency is projecting 2021 funds from operations of $2.96 to $3.14 a share, up from $2.95 in 2020 but still below 2019’s $3.89.
The company is looking at three possible scenarios for this year’s earnings: The reverse course scenario in which the pandemic forces a return to business shutdowns and restrictions; a status quo scenario; and a continued improvement scenario in which restrictions are lifted and more government stimulus helps business.
“While we do have a greater sense of optimism and that is inherent in our continued improvement scenario, it is still too early in the year to eliminate our reverse course scenario,” Palmer said.
Regency Centers In South Jacksonville, the Mandarin Landing center anchored by Whole Foods is 89.1% occupied.
Palmer
Pandemic flattens growth at FIS
Fidelity National Information Services Inc., or FIS, said organic revenue growth was flat in the fourth quarter as the pandemic affected consumer spending trends.
The Jacksonville-based financial technology company expects better growth in 2021.
FIS reported adjusted earnings of $1.62 a share in the fourth quarter, 5 cents higher than the previous year, with revenue little changed at $3.3 billion.
Earnings were 6 cents higher than the consensus forecast of analysts, according to Zacks.
Revenue for all of 2020 rose 21% to $12.552 billion, mainly because of the company’s acquisition of Worldpay Inc. in mid-2019.
FIS said excluding the impact of acquisitions and foreign currency exchange rates, revenue fell 1% organically.
The company projects 2021 revenue at $13.5 billion to $13.7 billion with adjusted earnings of $6.20 to $6.40 a share, up from $5.46 in 2020.
“Once we lap the COVID pandemic comps in late Q1, we expect revenue growth to accelerate materially, beginning with the second quarter and driving us to our full year expectations,” Chief Financial Officer James Woodall said during the company’s conference call with analysts last week.
FIS reported growth in its banking and capital markets solutions businesses last year.
However, that was offset by an organic decline in its merchant division, which includes the payments technology business of Worldpay. The drop in consumer spending affects that business.
CSX Corp. raises dividend again
CSX Corp. said last week it is raising its quarterly dividend payments by 2 cents a share, from 26 cents to 28 cents.
This is the fifth straight year CSX’s board of directors has raised the quarterly dividend by 2 cents. It left the dividend unchanged throughout 2016.
Kraft Heinz mum on Maxwell House
The Kraft Heinz Co. agreed last week to sell its Planters nuts business to Hormel Foods Corp., the food company’s second big divestiture in the last six months.
But two years after reports surfaced that Kraft Heinz was considering selling its Maxwell House coffee business, the company remains quiet about that division.
As Kraft Heinz reported fourth-quarter earnings last week, it gave no information on its coffee business at all.
The lone remaining U.S. Maxwell House plant is the Downtown Jacksonville facility at 735 E. Bay St., which employs about 200 people.
The plant has been operating at that site since 1924.
The company announced the $3.35 billion sale of its nuts business as it announced earnings.
It said the sale includes two Planters production facilities and one Corn Nuts plant and employees will continue to operate as usual under Hormel’s ownership.
“Strategically, this will sharpen our focus and investment on parts of our portfolio with greater growth prospects and competitive advantage,” Chief Financial Officer Paulo Basilio said during Kraft Heinz’s quarterly conference call, according to a transcript posted by the company.
“Also, recall that we announced the divestiture of our Natural Cheese business last September. Taken together, these two divestitures improve our mix and growth trajectory,” he said.
Kraft Heinz said the nuts businesses produced about $1.1 billion in sales last year. Total sales for the company were $26.2 billion.
Basilio
Consulting Solutions continues growth
Jacksonville-based Consulting Solutions continued its growth with the acquisition last week of TEK Connexion, a Chicago-based provider of technology services and workforce solutions.
This is the sixth acquisition for the technology staffing and solutions company since it was acquired by investment firm White Wolf Capital LLC in 2016.
As a private company, Consulting Solutions does not publicly report financial data and it did not disclose details of the TEK acquisition.
The company said in November it was included in a ranking of the fasting growing staffing firms by Staffing Industry Analysts, a list covering firms that generated at least $100 million in annual U.S. staffing revenue.
However, Consulting Solutions did not say where it ranked and Staffing Industry Analysts did not publicly release its full list.
MBASCH@ JAXDAILYRECORD.COM
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