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Mendenhall Report: Higher rents drive Downtown viability
July 18-24, 2019
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JACKSONVILLE
Record & Observer Harbert Realty to develop San Marco church site
JACKSONVILLE
Record & Observer Don Wiggins President
Howard Serkin Chairman, advisory board
Asok Chauduri Principal
Dan Edelman Principal
The Charter Co., CFO; Koger Properties, executive vice president
Career highlights: CSX Corp., senior vice president of corporate development, vice president of finance
Career highlights: Presser, Lahnen & Edelman public accounting firm, founder; Dixon Hughes Goodman LLP, Florida managing partner
JACKSONVILLE Career highlights:
Record & Observer Career highlights: University of North Florida, professor emeritus of accounting and finance
The Alabama company proposes 143 apartments at South Jacksonville Presbyterian Church, which will keep its sanctuary.
THEY KNOW EVERYBODY Record & Observer BY KAREN BRUNE MATHIS EDITOR
JACKSONVILLE
HERITAGE CAPITAL GROUP A ‘NEXT CAREER’ FOR BUSINESS LEADERS
Mac Holley Principal Career highlights: Florida Capital Bank, North Florida Region president and CEO; Bank of America, Northeast Florida president
Jerry Mallot Director of Corporate Development Career highlights: JAXUSA Partnership, president; JAX Chamber, executive vice president
BY MARK BASCH CONTRIBUTING WRITER
W
hen longtime Jacksonville business executives Jerry Mallot and Scott McCaleb joined Heritage Capital Group this year, it was a continuation of a trend. The investment banking firm has been building a deep pool of talent with years of experience, includ-
Scott McCaleb Principal
Mary Merrill Principal
Career highlights: Vulcan Lands Inc., president; Florida Rock Industries Inc., vice president of corporate development
Career highlights: Churchill Capital, partner; U.S. Bancorp, commercial lender
ing several people coming from highprofile positions with Jacksonville businesses. “We offer a sort of next career for well-respected business people,” said Heritage Chairman Howard Serkin. Heritage President Don Wiggins recruited Serkin in 1993 to what was then a relatively small Jacksonville firm. Wiggins was a professor of accounting and finance at the University of North Florida and Serkin recently had
joined the faculty as UNF’s first executive-in-residence. Serkin had served in executive roles with several prominent Jacksonville companies, including The Charter Co. in the 1980s and Koger Properties in the 1990s. “I could tell he knew what the hell he was doing,” said Wiggins. “He said ‘Let’s build this little investSEE HERITAGE, PAGE 10
A central site in the historic San Marco neighborhood and shopping area is targeted for redevelopment. Harbert Realty Services has a contract to buy about 2.1 acres from South Jacksonville Presbyterian Church at 2137 Hendricks Ave. to develop Park Place at San Marco, a 143-unit apartment community. The church would retain its sanctuary and two buildings – administration and the community hall - on just under an acre, said church trustees Chair Jeff King, who referred other questions to Harbert. “The location is second to none in terms of walkability and amenities within walking distance,” said Bill Ware, vice president of development with Harbert Realty Services of Birmingham, Alabama. Ware did not disclose the contracted purchase price but estimates that investment in the development will top $30 million. The church property is across Hendricks Avenue from the San Marco Square shopping and entertainment area and serves the residents of the neighborhood. “We are going to do everything we can to maintain the charm and character of San Marco,” said Ware, who moved to Jacksonville SEE HARBERT, PAGE 10
Mathis Report: Culver’s opens Monday in Middleburg PAGE 5 Garwood Report: Health systems deal with repeal of CON laws PAGE 8 Marijuana regulations: Appellate ruling stokes interest PAGE 15
THE BASCH REPORT
CSX CEO: Economic backdrop “one of the most puzzling” Foote forecasts 2019 revenue decline PAGE 6 VOLUME 2, NO. 7 • ONE SECTION