Jacksonville Daily Record 8/12/21 by Daily Record & Observer LLC

THURSDAY August 12, 2021

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Daily Record JACKSONVILLE

A JACKSONVILLE DAILY RECORD AND RECORD & OBSERVER SPECIAL EDITION

Daily Record MADE FIRST COAST JACKSONVILLE

ON THE

Daily Record Daily Record JACKSONVILLE

JACKSONVILLE

Keeping the air clean Soler & Palau manufactures ventilation systems and fans at its facility in Jacksonville.

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THIS SPECIAL EDITION

INSIDE

From keeping the U.S. Navy fleet ready to preparing thousands of cars for shipment to dealers, manufacturing is strong and growing in Northeast Florida. Here are some of the companies, groups and people making it happen.

Bringing them in Holsters & more

Making thrills

Coffee to cups

How the COVID-19 pandemic is helping Jacksonville recruit manufacturing.

Started in a garage, Concealment Express now sells products in 78 countries.

Sally Dark Rides builds and designs theme park attractions sold worldwide.

What VyStar CEO Brian Wolfburg is doing to get more products made here.

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THE BASCH REPORT

Regency Centers upbeat despite COVID-19 surge CEO Palmer: Company being cautious. PAGE 14 VOLUME 108, NO. 189 • TWO SECTIONS

WHAT’S TRENDING

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER 2 JaxDailyRecord.com

12, 2021DAILY RECORD / JACKSONVILLE RECORD & OBSERVER THURSDAY, AUGUST JACKSONVILLE

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.

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HOW TO REACH US

JaxDailyRecord.com THURSDAY, SEPTEMBER 19, 2020 1

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Daily Record Daily Record JACKSONVILLE ABOUT US

ABOUT US

Jacksonville Daily Record and Jacksonville Record & Observer are a division of Observer Media Group Inc.

File image

The Omni Jacksonville Hotel at 245 Water St. features views of the St. Johns River.

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 CourtHOTELS and publisher of public notices in Duval County.

Omni Jacksonville to become a Marriott

Jacksonville Record & Observer is a free weekly business newspaper available in Downtown Jacksonville and key business nodes throughout Jacksonville. To find a locationItnear you, that visit the jaxdailyrecord.com/rack-locations. hotel” will open in December. A note appears Omni Jackson-

on the Omnihotels.com website says ville Hotel will become part of the MarEditorial focuses a concentration on development, “This hotel will no longer be an Omni riottcontent brand this fall. on news and trends, with real estate, construction, law, companies, and industry trends and how local property as of 8/25/21.” Dallas-based Prism Hotels & Re- economic and state business. Marriott also operates the Southsorts,government which took affects over management

Jacksonville Daily Record and Jacksonville Record & Observer are a division of Observer Media Group Inc. Established in 1912, the Financial News & Daily Record, now the Jacksonville Daily JACKSONVILLE Court Newspaper of the Circuit Record, is published Monday-Friday and is the Official 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.

bank Hotel at Jacksonville Riverwalk of the hotel after the Omni was sold in February, did not respond to a request STAFFDowntown and the Marriott Jacksonville on Salisbury Road. for comment. Publisher / Matt Walsh Director of Advertising / Jay Lesowitz Omni Jacksonville Corp. sold the Marriott’s website features the mwalsh@jaxdailyrecord.com jlesowitz@jaxdailyrecord.com Omni on Feb. 25 for $35.1 million to LR Marriott Jacksonville Downtown at Publisher Emeritus / James F. Bailey Jr. Advertising Coordinator / Codi Gildberg Jax LLC. 245 Water St. and indicates the “new jbailey@jaxdailyrecord.com

Publisher / Matt Walsh mwalsh@jaxdailyrecord.com

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mmarbut@jaxdailyrecord.com Atlanta developer Jeff Fuqua pro-

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REDEVELOPMENT

Proposed $151.61M project for old T-U property Associate Editor Legal Affairs / Max Marbut Staff poses Writer to / Katie startGarwood construction in 2022 Court Typeset / Paula Steiner kgarwood@jaxdailyrecord.com on the proposed $151.61 million retail, admin@jaxdailyrecord.com Staff residential Writer / Mike Mendenhall and park redevelopment at Director of Circulation / Diana Ewing mmendenhall@jaxdailyrecord.com 1 Riverside Ave. in Brooklyn. subscriptions@jaxdailyrecord.com The project, in twoCampbell phases, would be Business Manager / Angie Distribution / Tim Reagan acampbell@jaxdailyrecord.com completed in 2026. distribution@jaxdailyrecord.com

A Downtown Investment Authority Project Profile Assessment explains more details for Fuqua Development PRESS RELEASE/INQUIRY/REPRINTS LP’s plans to buy and redevelop the Submit a pressformer releasecampus or editorial inquiry onlinecomprise 301 apartments, 47,400 18.8-acre of The jaxdailyrecord.com/submit-news-release or email editorial@jaxdailyrecord.com. square feet of retail space and a Florida Times-Union on the Northbank Article are available 38,750-square-foot organic grocer. of reprints the St. Johns River. at jaxdailyrecord.com Phase 2 is shown to begin in 2024 The land is owned by the Morris for completion in 2026 to develop family of Augusta, Georgia. HOW TO SUBSCRIBE another 15,000 square feet of retail The DIA expects Phase 1 to start Subscribe online jaxdailyrecord.com/subscribe or contact subscription space and 125our apartments. next year forat completion in 2024 and department by phone at (877) 231-8834 or email subscriptions@jaxdailyrecord.com

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Thursday only ..........$66 per year 2 years ................................... $154 Single Downtown copy ......................35 cents 1 yearThe ........................................$89 Bread & Board to open 6 months .................................$55 grab-and-go items. The Bread & Board will open its new The restaurant will be open 11 a.m. Downtown restaurant at 100 W. Bay St. HOW TO ADVERTISE to 9 p.m. Monday-Thursday; 11 a.m. to on Aug. 15. DisplayThe & Digital Advertising: Jay Lesowitz (904) 356-2466 or email 10at p.m. Friday-Saturday; and 10 a.m. Bread & Board offersCall made-toadvertise@jaxdailyrecord.com to 6 p.m. Sunday. Also opening is The order sandwiches, sandwich boards, Bread & Board Provisions, a store ofsalads and entrees. The Downtown Legalrestaurant Advertising: public notices toitems legal@jaxdailyrecord.com fering from local vendors. will Submit have a specialty cock- via email The Bread & Board closed its locatail menu, a full-service dining option tion in Five Points on Aug. 8. and expanded hours. It also will offer

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PRICES 2 years ................................... $154 1 year ........................................$89 6 months .................................$55

Thursday only ..........$66 per year Single copy ......................35 cents

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Publix shopping center in Riverside sold POSTAL INFORMATION

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Jacksonville Daily Record (USPS 190-620) is published daily except Saturday, Sunday aged by West Palm Beach-based North The Publix supermarket-anchored & legal holidayscenter (New Year’s Day, Memorial Independence Day, Labor Day, Development Group. shopping in Riverside sold for Day,American Thanksgiving and July Christmas) by Daily Record & Observer LLC, 121 W. Forsyth St.,at The 28,857-square-foot store $17.5 million 23 to a San FranSuitecisco-based 150, Jacksonville, FL 32202. Periodicals paid at Jacksonville, Florida 2033 Riverside Ave. was built in 2002. company, according to a postage and at additional mailing offices. Under no circumstances willlast anysold news records The center inor 2010 for deed recorded with the Duval County of Duval County be suppressed in this newspaper is for our $8.675 million. Clerk of Courts on Aug. 5. for anyone. Information subscribers only and must not be purchased used by anyoneThe for publication purposes. property also includes the two Stockbridge Capital Group retail and restaurant strips along Marthe property through SCG Riverside Market LLC from LF2 Riverside LP, man- garet Street and Riverside Avenue. POSTMASTER

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.

Send changes of address to the Daily Record, Observer Media Group, PO Box 135, Lincolnshire, IL 60069-0135

OFFICIAL DESIGNATIONS THE DAILY BRIEF The Official Newspaper for The Official Newspaper The Official Court There’s to staying in loop Court thethe U.S. Bankruptcy of The Jacksonville Bar Newspaper of Duval a shortcut thesend Middle District of Association, Nov. 21, 1926. County by Order of the Don’t miss a story. Subscribe to the Daily Brief andfor we’ll our Florida, Jan. 4, 1947. Circuit Court, July 7, 1961. top news to you Monday-Friday morning via email. To sign up, visit JaxDailyRecord.com and look for the “Sign up” box, enter your email and AFFILIATIONS you’ll be set. Florida Press Association

POSTMASTER

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.

AFFILIATIONS Florida Press Association

The Official Newspaper for the U.S. Bankruptcy Court for the Middle District of Florida, Jan. 4, 1947.

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THURSDAY, AUGUST 12, 2021

MADE ON THE FIRST COAST

A POSITIVE OUTLOOK FOR MANUFACTURING About 50% of the current new business prospects are in the sector targeted by JAXUSA Partnership. BY MAX MARBUT ASSOCIATE EDITOR

anufacturing is a steadily growing industry sector in Northeast Florida and the trend is expected to continue for years. JAXUSA Partnership, the economic development division of JAX Chamber, has been targeting manufacturing for the past decade, said Aaron Bowman, senior vice president of business development. The coronavirus pandemic increased interest in Jacksonville as a site for manufacturers that want to expand operations or open new facilities. “Before COVID, about 20% of the projects we were working were manufacturers. Now it’s about 50%,” said Bowman, who also is the District 3 City Council representative. The disruption of the global supply chain made domestic facilities more attractive to manufacturers. Northeast Florida’s industrial real estate inventory and transportation infrastructure — interstate highways, rail lines and port — helps seal the deals, he said. “With our supply chain and logistics profile, we can get materials here and we can get products out,” Bowman said. Manufacturing substantially supports import and export business at JaxPort, said Robert Peek, general manager of business development. “In total tonnage, about 90% of what moves through the port is raw materials or finished products,” Peek said. More than 550,000 vehicles entered the country through JaxPort last year. For many, the port’s Foreign Trade Zone is where the final stage of the manufacturing process occurs. “Components like custom wheels and GPS are installed at JaxPort before the vehicles are

Bowman

Peek

sent to the dealers,” Peek said. Business recruitment is another aspect of the port’s support for manufacturers, helping existing and proposed facilities set up the services needed to obtain raw materials and ship products to customers. “If a company is looking to locate or expand here, we help them with shipping lines, transportation and supply chain, trucking companies and warehouses,” Peek said. The available and trained workforce is another factor that helps. “We can give you a building and electricity, but we also have a strong labor force,” Bowman said. JAXUSA works with Florida State College at Jacksonville, the University of North Florida and Jacksonville University to “feed the workforce,” Bowman said. “It’s a big supply that we can turn on and modify to meet an employer’s needs.” Another reason JAXUSA recruits manufacturers is the long-term benefits to the community. Bowman cites as an example The Boeing Co.’s recent decision to undertake a $116.5 million expansion of its maintenance and repair facilities at Cecil Airport. “You don’t make that kind of investment and walk away from it. They stay forever,” Bowman said. With the increased number of qualified prospects and what Jacksonville has to offer, Bowman said he expects more factories and similar facilities to establish or expand operations. “We are going to be busy for at least the next five years. Hang on, it’s going to be fun.” MMARBUT@ JAXDAILYRECORD.COM (904) 356-2466

Special to the Daily Record

The Fleet Readiness Center Southeast is the U.S. Navy’s maintenance, repair and overhaul facility at Naval Air Station Jacksonville.

Top manufacturers Northeast Florida’s top 25 manufacturers, ranked by number of employees, according to the JAX Chamber: Rank Company Employees

Rank Company Employees

1. Fleet Readiness Center Southeast 4,200

14. Southeastern Toyota Distributors 400

2. Flightstar Aircraft Services

1,500

15. Baker Hughes, a GE Company

400

3. Northrop Grumman

1,200

16. Boeing

400

4. Georgia-Pacific Corp.

1,000

17. Hydro Extrusions North America

355

5. Anheuser-Busch

700

18. Safariland

350

6. Carlisle Interconnect Technologies

650

19. Vulcan Materials Co.

350

7. BAE Systems Southeast

650

20. Pepsi Beverage Co.

300

8. Unison Industries

600

21. Vac-Con

300

9. Ring Power

545

22. Gerdau Ameristeel

300

10. Colomer USA

500

23. Kaman

280

11. WestRock

460

24. SEMCO Southeastern Metals

250

12. Coca-Cola Refreshments

450

25. Pilot Pen

250

13. Beaver Street Fisheries

425

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THURSDAY, AUGUST 12, 2021

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MADE ON THE FIRST COAST

AIR QUALITY EMPHASIS BOOSTS SOLER & PALAU 6393 Powers Ave. Founded: 1956 CEO: Jeff Bredeson Employees: 120 to 130, depending on seasonality Annual revenue: Declined to provide Sales territory/market: North America, Central America, South America and the Caribbean Major products: Commercial and residential ventilation systems, fans, energyefficient ventilation systems

The company that builds ventilation systems sees sales grow 10% as customers seek to to improve the air in their buildings amid the COVID-19 pandemic. BY KATIE GARWOOD STAFF WRITER

hen COVID-19 hit, businesses, building owners and others realized the need for fresh air in their facilities to mitigate the spread of the virus. So when demand for air filtration increased during the pandemic, Soler & Palau was ready with its supply of ventilators and fans for customers wanting to freshen their air. Following the onset of the virus, CEO Jeff Bredeson said S&P launched a catalog for COVID mitigation solutions featuring the company’s products that fit that category. It also developed lines of filtered fans, which “more heavily filtered the air coming into the

Special to the Daily Record

Soler & Palau manufactures ventilation systems and fans at its facility in Jacksonville.

Special to the Daily Record

Soler & Palau’s manufacturing facility at 6393 Powers Ave. The company is seeking a larger location.

building,” he said. As a result, Bredeson said the company performed “surpris-

ingly well,” with sales growing nearly 10%. “Part of that is the COVID

impact. Ventilation has become a much more important topic,” he said. “People who had never heard of it or cared about it in the past are starting to pay attention to indoor air quality and to ventilation systems.” Bredeson said he sees companies and building owners paying more attention to indoor air quality. “Now we build systems called domain control ventilation systems that can turn on and off different parts of the ventilation system based on poor indoor air quality,” he said. “But I think once people are aware of that, and aware of the health impacts to bad indoor air quality, I think they’re going to see that as an important thing.” Aside from sales related to COVID-19, Bredeson said S&P has been looking at ways to grow. In the past several years, S&P added residential products to its lineup. It also wants its catalog to include products made by S&P subsidiaries. “I think there’s plenty of opportunity for us in the market to grow,” he said. “We just have to be open to what we need to do to take the

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SOLER & PALAU

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

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THURSDAY, AUGUST 12, 2021

MADE ON THE FIRST COAST

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growth.” Bredeson said S&P created a growth initiative, which identified areas of the market “where we win more often.” He said salespeople are instructed to pursue those opportunities. The company primarily sells in the U.S., Canada, Central and South America and the Caribbean. He said of the company’s broad line of products, it most often sells outside air solutions, filtered outside air solutions and centrifugal power roof ventilators. “I think it’s our mix of products that makes us unique,” Bredeson said. “When we do studies and evaluations on our product lines, we find that we have a much broader mix than most of our competitors.” S&P was founded in Jacksonville in 1956 as Stanley Fans. In the 1970s, it moved to its location at 6393 Powers Ave. in the Bowden area of South Jacksonville. There, it manufactures its products. Stanley Fans purchased Breidert Air Products and JencoFan in the 1990s to expand its offerings to include centrifugal and food service products. In 2004, S&P purchased the company, and it became known as S&P USA Ventilation Systems. Its parent company is based in Barcelona, Spain. The Jacksonville operation employs 120 to 130 people, depending on the season. S&P has been in the Powers Avenue facility since then, but S&P sold the property in June as

Photo by Katie Garwood

“Indoor air quality has become a heightened topic, where people who had never heard of it or cared about it in the past, are starting to pay attention to indoor air quality and to ventilation systems,” Soler & Palau CEO Jeff Bredeson says.

it searches for a larger location that will accommodate all of its business under one roof. For now, it still occupies that space and leases it.

It also has offices and warehouse space at 8215 Westside Industrial Drive in Westside Industrial Park. “We have about 150,000

square feet here in Jacksonville currently,” Bredeson said. “We really need about 200,000 in order to not have capacity constraints that would stop us from

reaching our goals.” KGARWOOD@ JAXDAILYRECORD.COM (904) 356-2466

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, AUGUST 12, 2021

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MADE ON THE FIRST COAST

GARAGE SUCCESS STORY Started in 2014, gun holster manufacturer Concealment Express now sells in 50 states and 78 countries.

10066 103rd St., Jacksonville Founded: August 2014 CEO: Benedict Jimenez Employees: 52 full-time Annual revenue: Declined to provide, but said there has been 140% growth in 2020 year-over-year Sales territory: Sales in all U.S. states and in 78 countries; distribution in eight countries throughout Europe, Africa, South America and Southeast Asia. Major products: Concealed-carry handgun holsters; gun safety products

BY MIKE MENDENHALL STAFF WRITER

he owners of Concealment Express LLC began making gun holsters in August 2014 inside a garage at CEO Benedict Jimenez’s Jacksonville home. Co-founder Pablo Conde said they quickly scaled the business, filling 50 to 60 orders daily and moving to an 8-by-10-foot shed. The company has grown to a 7,500-square-foot manufacturing facility and offices on 103rd Street near Cecil Commerce Center with 52 employees. In 2020, Concealment Express filled 4,000 orders on its busiest day. Conde, chief marketing officer, says when Concealment Express started, its research found a gun accessory industry full of enthusiasts making a specific type of safety lock concealed holsters but no one scaling the product to a mass market. “So, over some tequila, we decided we’re going to put the pieces in place and turn it into an actual business,” he said. “We realized this thing was going to grow as big as we could take it.” Benedict, 39; Conde, 43; and 39-year-old President and CFO Sang Cho own the company.

904.539.9766 | arcodb.com |

Concealment Express holsters are sold at 1,400 independent stores and 400 big-box retailers, including Academy Sports.

Photos by Mike Mendenhall

Concealment Express Managing Director of Corporate Strategy and Development Eun Cho; his brother, President and CFO Sang Cho; and Chief Marketing Officer Pablo Conde.

Cho’s brother, Eun Cho, 41, is managing director of corporate strategy and development. The four business partners grew up together in Florida. Sang Cho said Concealment holsters are sold at 1,400 independent stores and 400 big-box retailers, including Academy Sports, Sportsman’s Warehouse and Scheels sporting goods. Cho said Concealment also fills specification orders for several

federal government agencies and the Jacksonville Sheriff’s Office. The company sells its products in all 50 states and in 78 countries with distribution in Bulgaria, South Africa, Thailand, Poland, Belgium, Philippines, Peru and Chile, according to Cho. Concealment Express is using market research to expand to women’s apparel with integrated concealed carry pockets, field triage kits and coffee, he said.

48 STATES

4,000+ PROJECTS

The company plans to open a Downtown Southbank showroom this year in the 15,694-squarefoot former Dimension Design building at 1451 Louisa St. Cho said it will be a demonstration space for its independent retailers to see better ways to merchandise and display Concealment Express products in their own stores. “We want to create a showroom where not only we can show off our new products on a mannequin but say here are these prebuilt aisle stands you can take to your place and dazzle it up,” Cho said. MMENDENHALL@ JAXDAILYRECORD.COM @MIMENDENHALL (904) 356-2466

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WAREHOUSE/ DISTRIBUTION CONSTRUCTION FIRM BY ENR

EXPERIENCE A BETTER WAY TO BUILD

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CONCEALMENT EXPRESS

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THURSDAY, AUGUST 12, 2021

MADE ON THE FIRST COAST

SALLY DARK RIDES: THEME PARK LEADER

Special to the Daily Record

Sally Dark Rides CEO John Wood leads a Jacksonville-based company that designs and manufactures rides for theme parks around the world.

SALLY INDUSTRIES INC. D/B/A SALLY DARK RIDES 745 W. Forsyth St. Founded: 1977 CEO: John Wood Employees: 32

The company was established in 1977 and has products in more than 100 theme parks and 60 museums. BY MAX MARBUT ASSOCIATE EDITOR

Annual revenue: $15 million Sales territory/market: International Major products: Animatronics installations for amusement parks and museums

ally Dark Rides was established in Jacksonville in 1977 to build a talking tooth fairy that taught children waiting in dental offices about oral care. Over 44 years, the company has become a world leader in animatronics and theme park ride design. “We had a string of our best years before the pandemic,” said CEO John Wood. The company lost a couple of contracts because the attractions industry had to shut down for COVID-19, but it is recovering. “The theme park industry is bouncing back,” Wood said. Sally has installations at more than 100 theme parks and 60 museums aroud the world. Revenue is $15 million. Wood said Sally is one of only a few companies that handle the entire process comprising scripting the ride, writing the music,

Special to the Daily Record

Riders on Sally’s “Ghost Blasters” ride are equipped with laser guns and score points as they shoot their way through a “haunted manor.”

designing the sets, lighting and special effects and manufacturing the animated figures that bring the story to life. The attractions are created Downtown in a 40,000-squarefoot facility at 745 W. Forsyth St. and shipped to destinations in the U.S., Canada, Europe and Asia. The company specializes in designing attractions for regional theme parks and about 3 million people interact with Sally’s cre-

ations annually, Wood said. The most recently completed project, “Sesame Street: Street Mission,” debuted in April 2019 at PortAventura World in Spain. The first Sesame Street ride in Europe, it was recognized by the Park World Excellence Awards for “Family Ride of the Year” and received a European Star Award for “Europe’s Best New Ride.” Sally also received the 2020 Thea Award for Outstanding

Achievement from the Themed Entertainment Association. A ride for a new theme park in the Midwest currently is in development, scheduled to open in summer 2021. “We have a niche that I think will be around in this industry for a long time,” Wood said. MMARBUT@ JAXDAILYRECORD.COM (904) 356-2466

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, AUGUST 12, 2021

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MADE ON THE FIRST COAST

FROM COFFEE TO CUPS VyStar’s CEO is working with LIFT JAX to identify more products that can be made in Jacksonville. BY MIKE MENDENHALL STAFF WRITER

yStar Credit Union CEO Brian Wolfburg says he has been charged by the nonprofit LIFT JAX Inc. to see if the everyday supplies used by Jacksonville companies could be made in Jacksonville’s Eastside to create jobs. “We’re trying to bring together not just (VyStar’s) purchasing, but several of the larger institutions in the area to see if we can look at what it is we buy in the quantity that is not produced here,” Wolfburg said. He said the work with LIFT JAX is conceptual, but plans are to poll Jacksonville corporate leaders to find common products in their procurement orders that could be made locally to spur manufacturing in the Eastside. He uses coffee cups as an example of what VyStar and other companies buy in bulk. Wolfburg said companies could combine orders to provide a production startup an immediate customer base or recruit manufacturers to move to Jacksonville’s Eastside and create jobs. “It’s not going to change the world but it’s going to make small dents,” Wolfburg said. “It’s going to move things forward especially if we position

File image

“It’s not going to change the world but it’s going to make small dents,” VyStar Credit Union CEO Brian Wolfburg says.

those manufacturers in the right location.” Jacksonville business and community leaders, as well as residents of the Eastside neighborhood, formed LIFT JAX in March 2020 after nearly three years of preliminary work. The historic Eastside neighborhood is east of Downtown, north of TIAA Bank Field and the Arlington Expressway and west of Talleyrand. President David Garfunkel said Aug. 5 that LIFT JAX’s goal is to end generational poverty in the Eastside and, eventually, citywide with the “Purpose Built Com-

munities” model that he says has helped revitalize Atlanta’s East Lake neighborhood. Wolfburg said the concept came as he worked with Florida Blue Market President Darnell Smith, Jessie Ball duPont Fund President Mari Kuraishi and Garfunkel over the past year on the LIFT JAX Steering Committee and Financial Stability Subcommittee. Wolfburg said purchase commitments from local corporations could be combined with property, facility and financial incentives to help entrepreneurs start manufacturing operations on the Eastside.

Startups could work with local nonprofits and financial institutions to acquire the land and establish capital lending relationships or with the city for tax incentives, Wolfburg said. According to Wolfburg, VyStar buys locally made products like coffee from Martin Coffee Co. and contracts with local companies like Brightway Insurance for services. He said buying locally produced goods can cost more upfront, but it increases a manufacturer’s return on investment. “(VyStar’s) business exists solely based on the membership of the people in central and Northeast Florida and soon to be Georgia. It’s foolish for us to take those dollars, extrapolate them and spend them outside the region,” he said. “They’re putting their money with us, they’re helping us grow, we’re adding to our infrastructure and employment, which helps the area, but we can also create a flywheel by continuing to reinvest in the area,” Wolfburg said. Garfunkel said LIFT JAX plans to implement its strategy of mixed-income housing, cradleto-career education, community wellness and long-term financial viability to the Eastside that can be replicated in other areas of the city like Durkeeville and Moncrief. Garfunkel said the Eastside and Talleyrand neighborhoods

are good for the manufacturing pilot because of land availability, building vacancies and the area’s history in manufacturing. He said unemployment in Jacksonville’s Eastside is four times the city average, which stood at 5.4% in June, according to the Florida Department of Economic Opportunity. “If we were able to create a couple of hundred good jobs that were for working-age adults in the Eastside, we would eliminate unemployment … to functionally zero.” Garfunkel said even a pilot that creates 10 jobs is “10 jobs more than we had and it keeps the money local.” He said the concept’s success depends on business leaders’ buyin. The diversity of corporate, nonprofit and business leaders on the LIFT JAX executive board and steering committee are a good starting point, he said. “The initial seeds have been planted,” Garfunkel said. “So, I actually feel very confident that if we put a stake in the ground around this, especially if someone like Brian (Wolfburg) and others are leading it, then I think we could generate the support.” MMENDENHALL@ JAXDAILYRECORD.COM @MIMENDENHALL (904) 356-2466

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THE MATHIS REPORT

Permits in review for CarParts.com warehouse

KAREN BRUNE MATHIS EDITOR

The California-based auto parts business plans an almost 180,000-square-foot space in Crossroads Distribution Center. CarParts.com Inc. is preparing to build-out its 150job Northwest Jacksonville distribution center at a cost of almost $1.9 million. The city is reviewing a building-permit application for Arco Design/Build to renovate the almost 180,000-squarefoot warehouse space, including an office, in Crossroads Distribution Center. CarParts.com will lease Building 300 at 6610 Pritchard Road. CarParts.com Inc., based in Torrance, California, announced June 29 it will open the center in the first quarter of 2022 to stock and allow for expansion of auto part categories, including mechanical, replacement and Certified

File image

The CarParts.com distribution center is planned in Building 300 at 6610 Pritchard Road in West Jacksonville.

Automotive Parts Associationcertified collision parts. The center will be CarParts. com’s sixth center and part of its more than 1 million square feet of warehouse space nationwide. CarParts.com Chief Operating Officer David Meniane said in June that Jacksonville is positioned to support the Southeastern U.S. market.

“The Jacksonville distribution center will let us cover 55% of the country with 1-day shipping and over 98% of the country with a 2-day transit time including both the Miami and Atlanta metropolitan areas,” he said in a news release. “Jacksonville has a talented workforce and its proximity to the port also increases

efficiencies and decreases lead times. In the first quarter of this year, we grew revenues 65% and our continued investment in our supply chain will help us further disrupt the auto industry.” The Jacksonville center will include equipment and technology, a photo studio and more. The center will stock Car-

Parts.com’s premium brands like TrueDrive, DriveWire, DriveMotive, JC Whitney and SureStop along with domestic and European brands such as Moog, Raybestos, Monroe, TRW, Beck/Arnley, Bestop and Curt. CarParts.com said it has more than 25 years of experience and has delivered more than 50 million parts.

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The city issued a permit March 26 for Arco Design/ Build to construct Crossroads Distribution Center Building 300 at a project cost of more than $5.17 million. Through Crossjax Distribution II LLC, Miles Rivers Partners LLC developed the 235,200-square-foot center on 11.52 acres at southeast Pritchard Road and Interstate 295 in Northwest Jacksonville. Miles Rivers Partners Principal Michael Bradley said previously the building, estimated at a total investment of $14 million, should be completed by the third quarter for single or multitenant use. Miles Rivers Partners is based in Southport, Connecticut.

Atlantic Logistics expansion The city issued a permit July 28 for Osterer Construction Co. to build-out expansion space for Jacksonville-based Atlantic Logistics’ Mandarin headquarters by 2,700 square feet at a job cost of $282,000. The company said June 7 it is expanding at 3003 Claire Lane in Willens Professional Park. The third-party logistics company employs 43 in its 4,100-square-foot space. It expects to complete the addition in December to house additional service lines and new employees in sales, administration and communications. KMATHIS@ JAXDAILYRECORD.COM @MATHISKB (904) 356-2466

THURSDAY, AUGUST 12, 2021

RESTAURANT NOTES Cajun Boil Express to San Pablo: The closed Co3 VIETaco in Pablo Station now is Cajun Boil Express, a fast-casual seafood restaurant serving shrimp, crawfish, mussels and snow crab legs in boiler bags or rice bowls. Each bowl comes with a bed of rice, corn, sausage and potatoes. More add-ons are available and there is a choice of sauces. Cajun Boil Express also sells combos, platters and party platters. The restaurant, at 14333 Beach Blvd., No. 101, is open 11 a.m.-2:30 p.m. and 5-9 p.m. daily. The Cajun Boil Express LLC fictitious name filing with the state June 8 lists Minting B Chan as the owner of the restaurant location. Min Ting Bernie Chan managed Co3 VIETaco.

File image

Checkers is in review for 4105 Dunn Ave. in Northwest Jacksonville.

Checkers to Dunn Avenue: The city is reviewing plans for a Checkers restaurant at 4105 Dunn Ave. in Northwest Jacksonville. Plaza Street Fund 177 LLC of Prairie Village, Kansas, is the property owner. Connelly & Wicker Inc. is the civil engineer. The 985-square-foot restaurant with outdoor seating is planned on 0.83 acres at Dunn Avenue and Wingate Road.

Inc. to put up a Dollar Tree sign at a cost of $3,438. Dollar Tree Inc. bought Family Dollar Stores Inc. in July 2015.

RETAIL NOTES

7-Eleven to St. Johns: St. Johns County is reviewing an application for 7-Eleven to build a 5,000-square-foot gas station with 20 fueling pumps at Parkway Village in World Commerce Center. The location is Outparcel 1 at International Golf Parkway and Florida 16.

Renovations at River City Marketplace: Bed Bath & Beyond intends to renovate at 13221 City Station Drive, Unit 125, in River City Marketplace at an estimated cost of $150,000. Old Navy proposes an estimated $300,000 remodel at the same address in Unit 101. Dollar Tree replacing Family Dollar: The city is reviewing a permit application for a Family Dollar store at 10550 Old St. Augustine Road to be renovated into Dollar Tree. No contractor is listed for the $59,070 project to convert the 9,627-square-foot store in the Crossroads at Mandarin center. The city issued a permit July 29 for Anchor Sign

Publix renovating in St. Johns: Publix Super Markets Inc is remodeling its store at 3777 Palm Valley Road in St. Johns County at a cost of $500,000.

Gas station to RiverTown: St. Johns County is reviewing plans for an unidentified gas station and retail space in Longleaf between Longleaf Pine and Veterans parkways in RiverTown. Scrubbles to Durbin: The St. Johns River Water Management District and St. Johns County are reviewing plans for a Scrubbles Express Wash in Durbin Creek Crossing in

1 West Adams Street

St. Johns County. The 3,950-square-foot project is planned on 1.22 acres at 145 Harper Lane at St. Johns Parkway and Race Track Road. Tidal Wave to St. Augustine: St. Johns County issued a permit for a 3,243-squarefoot Tidal Wave Auto Spa at 2795 Kenyon Morrison Road in St. Augustine at a cost of $1.74 million. Mr. Clean to Palencia: St. Johns County is reviewing plans for the 3,202-square-foot Mr. Clean Car Wash along U.S. 1 at Palencia.

DEVELOPMENT NOTES Covius build-out: The city issued a permit July 21 for Dav-Lin Interior Contractors to build-out expansion space for Covius Holdings Inc., led by former EverBank Financial Corp. leaders Rob Clements and John Surface, on the 16th floor of Wells Fargo Center at a cost of $119,836. Dav-Lin will renovate 4,650 square feet of space in the 1 Independent Drive W. tower. Denver-based Covius provides technology to financial companies.

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THE MARBUT REPORT

Florida Coastal another step toward closure as emergency motion denied

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A federal court upholds the U.S. Department of Education’s termination of the law school’s access to student loans. U.S. District Judge Marcia Morales Howard on Aug. 9 denied Florida Coastal School of Law’s emergency motion for a restraining order that would have temporarily restored the school’s access to the Title IV Higher Education Opportunty Act student loan program. Without access to the federal funds, the school has said it will close this month. “Last night Judge Howard issued her ruling in our challenge to the Department of Education. Unfortunately, she ruled against us. We are reviewing the opinion with counsel to assess options for next steps as we work diligently to support our students and staff,” said Peter Goplerud, president and dean of Florida Coastal, in an email Aug. 10. Goplerud The law school filed a lawsuit July 20 against the U.S. Department of Education that alleges the department exceeded and abused its authority and acted arbitrarily and without due process in terminating the school’s Program Participation Agreement in the student loan program May 13. “FCSL has not shown that the Department acted contrary to the law or outside of its ample discretion in determining whether FCSL was eligible to participate in the Title IV, HEA programs or the conditions under which the Department would issue a new PPA,” Howard wrote in the order. “Nor has FCSL shown that the reasons the Department provided for its determination were based on irrelevant factors or unsupported by the administrative record before the agency.” Howard referenced that Florida Coastal currently is operating under a teach-out plan approved by the American Bar Association that allows students to transfer immediately to other law schools to complete their postgraduate education and receive a juris doctor degree. “The Court recognizes that the denial of injunctive relief here may well end FCSL’s battle to continue to provide legal education in the Jacksonville community. While the school’s closure has been anticipated at least since the ABA’s approval of the Teach-Out Plan, no doubt some students, faculty and staff have clung to the hope that the school would find a way to reopen,” she wrote. “The closure may significantly jeopardize the dreams of hardworking students and the financial futures of the remaining students, faculty, staff, and investors. But a dire outcome, no matter how devastating, cannot support the

Florida Coastal School of Law at 8787 Baypine Road in Baymeadows. The school is expected to close this month after losing access to the federal student loan program.

entry of injunctive relief in a case such as this where the school has made no showing that it can ultimately succeed on the merits of its attempt under the APA to obtain an order requiring the Department to reinstate its eligibility to participate in Title IV, HEA programs.” Goplerud said July 1 that if Florida Coastal’s access to the federal loan program was not restored, the school would close in early August, after final exams for the summer term. About 135 students and 15 faculty and staff members would be affected by the closure, he said. The student loan program denial is the latest action in the 17 years since Florida Coastal became part of the InfiLaw consortium of for-profit law schools. Sterling Capital, a private equity firm based in Naples, Florida, purchased Florida Coastal in 2004 and at the same time established the InfiLaw System. InfiLaw founded the Phoenix School of Law (later renamed Arizona Summit School of Law) in 2004 and the Charlotte School of Law in 2006. All three schools had issues with the ABA and Department of Education related to admission standards, belowaverage Bar exam passage rates and high levels of student debt combined with below-average employment in the Bar percentages, income levels after graduation and financial practices. The ABA put Arizona Summit on probation for violating ABA academic and admission standards in March 2016. The school began a teach-out plan when its accreditation was withdrawn in July 2018. It closed in May 2020. Charlotte School of Law was placed on probation in November 2016 for violating admissions standards required for ABA accreditation. The Department of Education terminated it from the Title IV student loan program a month later. Charlotte School of Law closed in August 2017. The financial liability with the Department of Education stemming from the failure of the schools in Arizona and Charlotte is substantial. Howard’s order denying the motion states that InfiLaw is responsible for $3,605,688 in unchallenged discharges, $1,585,802 in discharges under appeal, and $330,743 in automatic discharges subject to appeal. InfiLaw also is facing $167 million in potential liability related to pending discharge applications submitted by former students who contend they were defrauded by the two schools. Florida Coastal’s ABA accreditation will continue until July 1, 2023, to allow enrolled students to receive credits earned as transient students at other ABA-approved law schools. MMARBUT@JAXDAILYRECORD.COM (904) 356-2466

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THURSDAY, AUGUST 12, 2021

FROM STAFF

Here are the top 10 commercial real estate sales in Northeast Florida, comprising Clay, Duval and St. Johns counties. The sales were recorded Aug. 2-8.

RiverVue Apartments

RiverVue Apartments in Avondale sold for $63 million. It’s the former Commander and St. Johns Village site. The property sits between St. Johns Avenue and Fishweir Creek.

DUVAL

$63,000,000

$58,000,000

$35,000,000

$32,100,000

$17,500,000

3946 St. Johns Ave., Jacksonville

8335 Freedom Crossing Trail, Jacksonville

13225 Vantage Way, Jacksonville

8291 Dames Point Crossing Blvd., Jacksonville

2033 Riverside Ave., Jacksonville

Type: RiverVue Apartments Parcel size: 5.86 acres No. of units: 228 Buyer: ACIF I RiverVue LLC Seller: CRP/Chance Jacksonville Owner LLC

Type: The Vue at Baymeadows Apartments Parcel size: 24.45 acres No. of units: 352 Buyer: BMF IV FL Vue Baymeadows LLC Seller: Vue at Baymeadows LP Previous sale: $34,220,000 in 2017

Type: Freebird Commerce Center Parcel size: 18.78 acres Building size: Two warehouse buildings totaling 277,942 square feet Buyer: USPP Freebird LS LLC Seller: SPCH Jacksonville I LLC

Type: Villas at Dames Point Crossing Apartments Parcel size: Not available No. of Units: 61 Buyer: Atlantic Multi Family II LLC Seller: VMHF Jacksonville LLC

Type: Riverside Market Square Parcel size: 2.93 acres Building size: Three buildings totaling 52,932 square feet Buyer: SCG Riverside Market LLC Seller: LF2 Riverside LP Previous sale: $8,675,000 in 2010

CLAY

DUVAL

ST. JOHNS

DUVAL

$14,544,538

$11,508,000

$5,250,000

$5,000,000

$3,815,000

570 Wells Road, Orange Park

13475 Ranch Road, Jacksonville

145 Movie St., St. Augustine

2300 Bartram Road, Jacksonville

3200 S. Third St., Jacksonville Beach

Type: Heartland Health Care Center Parcel size: 6.51 acres Building size: 37,590 square feet Buyer: Orange Park FL Propco LLC Seller: Well PM Properties LLC

Type: Home2 Suites by Hilton Parcel size: 2.24 acres Building size: 87,705 square feet Buyer: 13475 Jacksonville Holdings LLC and Bhupendra Patel Seller: BPR Jacksonville LLC

Type: Datil Wash car wash Parcel size: 1.66 acres Building size: 6,590 square feet Buyer: Al & Patty Mori LLC Seller: Datil Wash LLC

Type: Florida Baptist Children’s Homes Parcel size: Not available Buyer: Covenant School of Jacksonville Inc. Seller: FBCH Land Holdings Inc.

Type: Office Parcel size: 0.06 acres Building size: 8,628 square feet Buyer: Sunshine International Enterprise Corp. Seller: ARD 3200 S 3rd Street LLC Previous sale: $3,100,000 in 2017

Credit: Cole LoCurto

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THE BASCH REPORT

Regency Centers optimistic amid COVID spike helped in part by acquisitions. In the Jacksonville market, home closings rose by 18 to 265 and the average sales price rose by 15% to $351,496. “Price appreciation in our homes sold has flowed through to our margins, which are outpacing the industry-wide headwinds we are facing in the supply chain,” CEO Patrick Zalupski said in a news release. “Our operations have been impacted by numerous supply chain disruptions that - in our opinion - ultimately stemmed from suppliers’ start and stop production schedules, resulting from COVID-19,” he said. “The homebuilding industry is resilient, and our suppliers and trade partners are working hard to address these issues.”

MARK BASCH CONTRIBUTING WRITER

The shopping center owner says retailer demand is strong. Shopping center operator Regency Centers Corp. is seeing customer traffic back to pre-pandemic levels, company officials said last week. Even with the recent spike in COVID-19 cases, they are optimistic the Jacksonvillebased company’s retail tenants can handle it. “Our portfolio of foot traffic is now back to at least 100% of pre-COVID levels in nearly all of our markets,” CEO Lisa Palmer said Aug. 6 in Regency’s quarterly conference call with investment analysts. “Retailer demand is healthy. This is reflected in our strong leasing activity and we’re seeing fewer tenant failures and, therefore, lower move-out activity than we expected,” she said. However, Palmer said the company is cautious. “We are all keenly aware of rising virus cases in many cities across the country as we experience another wave of the pandemic. New mask and vaccine restrictions are emerging, with the risk of perhaps even the return of capacity restrictions in some markets,” she said. “But with the knowledge and experience that we and our tenants have gained over the last year and a half, we feel good about where we stand long term and our ability to weather additional storms,” she said. Palmer also said the company expects any new restrictions to be short-term. Regency’s portfolio of 403 properties across the country, largely grocery-anchored shopping centers, was 92.5% leased as of June 30. While many retailers fell behind on rent a year ago, Regency said it had collected 96% of second-quarter rents as of Aug. 2.

Fortegra parent may revisit IPO File image

“Our portfolio of foot traffic is now back to at least 100% of pre-COVID levels in nearly all of our markets,” CEO Lisa Palmer said.

Regency’s funds from operations (earnings excluding some noncash items) were 99 cents a share in the second quarter, compared with 61 cents in the second quarter of 2020 when the pandemic had its strongest impact on businesses.

Treace Medical also monitoring COVID spike

Treace Medical Concepts Inc. also is monitoring the COVID resurgence and the impact it could have on its business. Ponte Vedra-based Treace Medical produces a surgical system to treat bunions. Demand for elective medical procedures fell sharply a year ago as health care resources were devoted to COVID, so a resurgence Treace could impact demand for bunion surgery again. “We are closely monitoring the impact of the delta variant, including potential changes in hospital responses and the impact they may have on elective procedures,” CEO John Treace said in the company’s conference call last week. “Notwithstanding, we remain cautiously optimistic

and are increasing our fullyear 2021 revenue guidance to $95 million, up from our prior guidance of $87 million to $92 million,” he said. Treace Medical reported second-quarter revenue of $20.7 million nearly tripled the 2020 second-quarter results, but also was 10% higher than the first quarter of this year when conditions were closer to normal. “All in, we are pleased to see continued growth in the second quarter and early into the third quarter, which is generally a soft quarter for elective procedures,” Treace said. Treace Medical, which completed its initial public offering in April, had a net loss of $5.1 million, or 10 cents a share, in the quarter.

Dream Finders earnings rise The other Northeast Florida-based company to complete an IPO this year, Dream Finders Homes Inc., reported higher second-quarter earnings despite supply chain disruptions affecting homebuilders. Dream Finders said Aug. 10 that net income jumped 144% to $29 million, or 31 cents a share. Revenue rose 83% to $365 million and home closings rose 91% to 996 in the quarter,

Law enforcement products company Cadre Holdings Inc. postponed its planned stock sale last week, becoming the third Jacksonville-based company this year to call off an IPO. Southeastern Grocers Inc., parent of Winn-Dixie and three other supermarket chains, canceled its IPO in January and specialty insurance company Fortegra Group Inc. withdrew its IPO in April. Fortegra’s parent company, Tiptree Inc., reported earnings last week and an investor asked in its conference call if the company plans to try a Fortegra IPO again. “I will tell you that it is very much something that we are continuing to consider,” Tiptree Executive Chairman Michael Barnes said. Barnes said the decision comes down to Fortegra meeting growth objectives without needing additional capital from an IPO. “But right now, as I think we communicated previously, we believe Fortegra can continue to meet its growth objectives being part of Tiptree for the time being,” he said. Tiptree said Fortegra’s second-quarter revenue rose 52.9% to $252.3 million and its adjusted earnings rose 56.8% to $14.1 million.

Black Knight grows with acquisitions Black Knight Inc. said last week its second-quarter organic revenue grew 11% but

helped by acquisitions, total revenue rose 23% to $361.3 million. The Jacksonville-based mortgage technology company’s adjusted earnings rose by 5 cents a share to 57 cents. “We’re able to achieve these results due to the strength of our Jabbour integrated end-to-end platforms and strong execution of our growth strategies,” said CEO Anthony Jabbour. “We believe M&A is a great tool to supplement our internal innovations, which is why we have completed six acquisitions since March of 2020,” he said.

Cannae sells some D&B shares While not an acquisition, Black Knight has made a significant investment in Dun & Bradstreet Holdings Inc., owning 54.8 million shares, or 12.7% of the stock. Jabbour also is CEO of Dun & Bradstreet, which is moving its headquarters to Jacksonville. Investment company Cannae Holdings Inc., which like Black Knight was spun off from Jacksonville-based Fidelity National Financial Inc., is another large investor in Dun & Bradstreet. As Cannae reported its quarterly earnings last week, it disclosed it sold 8.5 million Dun & Bradstreet shares June 28 for $21.88 Foley a share, but the company remains Cannae’s largest investment. Dun & Bradstreet’s April proxy statement said Cannae owned 76.6 million shares, or 17.8% of the stock. Cannae Chairman Bill Foley said in the company’s conference call that Cannae is working with Dun & Bradstreet to seek out possible acquisitions. “To supplement the building organic momentum, we will also be on the lookout for strong targets that can complement the existing D&B assets and drive further revenue acceleration,” said Foley, who is also chairman of Dun &

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These are the largest commercial building permits by job cost issued Aug. 10 by the city of Jacksonville.

Rayonier AM completing portfolio plan

HOSPITAL, INSTITUTIONAL Mayo Clinic, 4500 San Pablo Road S., contractor is The Robins & Morton Group, 11,630 square feet, emergency room expansion, $7.98 million. Nemours Children’s Specialty Care, 807 Childrens Way, contractor is Commercial Construction Services Inc., 14,586 square feet, interior renovation, $600,000.

Rayonier Advanced Materials Inc. reported second-quarter earnings from continuing operations of 13 cents a share, reversing a loss a year ago, as the company nears completion of its “strategic portfolio optimization” plan. Jacksonville-based Rayonier AM’s main business is high purity cellulose products and it expanded the business with its 2017 acquisition of Canadabased Tembec Inc. However, Tembec’s operations included some noncore businesses that Rayonier AM is divesting. During its conference call last week, CEO Paul Boynton said the company expects to complete the divestitures Aug. 28 by closing on the sale of its lumber and newsprint assets. “Each sale was well timed to optimize the value to our shareholders,” Boynton said. “Now with the lumber and newsprint asset sale, the company is well positioned for the future as we will use the cash flow and the proceeds to reduce leverage and support disciplined investments in our core high purity cellulose business, including investments in green energy and our biofuture.” RBC Capital Markets analyst Paul Quinn thinks the sale will

CHURCH, OTHER RELIGIOUS The Potter’s House Christian Fellowship Inc., 5310 Lenox Ave., contractor is Alpha Foundation Specialists Inc., foundation repair, $23,286.

File image

The Rayonier Inc. headquarters in Wildlight in Nassau County. Wildlight is a master-planned community at Interstate 95 and Florida A1A.

benefit the company’s stock, as he raised his rating from “sector perform” to “outperform” last week. “With the sale of the Forest Products and Newsprint businesses expected to close later this month, Rayonier Advanced is a much cleaner story for investors,” Quinn said in his research note. However, the company’s core business is facing challenges, he said. “As the market leader in specialty cellulose, Rayonier Advanced has a role in helping to develop new markets to help offset the decline in acetate demand (largely due to falling cigarette filter consumption),” he said.

Rayonier Inc. earnings rise Rayonier Inc., which split up with Rayonier AM in 2014, reported higher secondquarter earnings as strength in its timber business offset lower earnings in its real estate operations.

The company did say in its quarterly conference call last week it is making continued progress in its Wildlight community in Nassau County, where Rayonier is headquartered. Chief Financial Officer Mark McHugh said the company closed a $9.1 million sale of 130 acres to a national homebuilder to begin an active adult community. “The addition of an active adult community is a significant milestone for the Wildlight project, as it adds a complementary market segment, which we believe will help to catalyze additional downstream demand,” McHugh said, according to a company transcript of the call. “In addition, we closed on 36 residential lots in our Wildlight project for $2.3 million or $65,000 per lot,” he said. Rayonier reported adjusted earnings of 22 cents a share in the second quarter, doubling last year’s earnings of 11 cents.

OFFICE, BANK, PROFESSIONAL Millennium Physician Group, 7751 Baymeadows Road E., contractor is Eason Development LLC, 1,871 square feet, tenant build-out, $295,000. The Selfie Showroom LLC, 9433 Lem Turner Road, contractor is Fresh Start Construction Inc., 2,545 square feet, tenant build-out, $15,000. OTHER Newton at eTown, 11317 Newtonian Blvd., contractor is Custom Graphics & Sign Design Inc., install gate and entryway, $95,000. SCHOOLS, LIBRARY, OTHER EDUCATIONAL River City Science Academy-Intracoastal, 2002 San Pablo Road S., contractor is Legacy Construction Services Group Inc., install playground, $23,015. SIGNS VyStar Credit Union, 1831 Dunn Ave., contractor is Brown Enterprises, two permits for monument signs, $79,262. Lofts at Murray Hill, Lofts, 840 Edgewood Ave. S., contractor is Albany Neon Sign Inc., two permits for rooftop and canopy signs, $52,000. UF Health Family Medicine-Normandy, 1584 Normandy Village Parkway, No. 32, contractor is River City Advertising Inc., wall sign, $2,000. Compiled by Daily Record Staff

MBASCH@ JAXDAILYRECORD.COM

PRESENTS:

The Budgeting Conundrum – How the General Contractor is Operating in Today’s Construction Environment Please join us for a luncheon featuring an expert panel of General Contractors who will examine the impact that scarcity and high prices of materials as well as labor shortages are having on current and future projects in Northeast Florida and beyond. The GCs will provide insight into the effect on their margins and how they plan for this volatility when bidding for jobs. We will learn how they are setting expectations with clients and if they believe the adaptive trends will become common practice for the long term. GUEST SPEAKERS

Paul Bertozzi

Jared Vincent

Tony Suttles

Dan Croft

Live Oak Contracting

Auld & White Contractors

Danis Construction

ARCO Design Build

Thursday, August 19th

11:30 am - Registration & Networking 12:00 pm - Plated Lunch 12:35 pm - Program Begins San Jose Country Club 7529 San Jose Blvd. Jacksonville, FL 32217

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MODERATOR

Terry Durand Stuebben AEC Advisory Group

Registration/pay online www.naiopnefl.com/event Registration Deadline: Monday, August 16th at Noon For more information contact Carmel Buchanan, 904/730-8075 or naiopnefl@comcast.net NAIOP Members: $35 | Non-Member/Guest: $55 VIP Table of 8: $350 for NAIOP Members | $500 for Non-Members (Includes table signage and preferred seating)

No Cancellations will be accepted or refunds given after Monday, August 16th at Noon.

DEVELOPMENT TODAY

Bradstreet and Fidelity. “Anthony Jabbour has also brought in new senior leaders this past quarter and I’m confident the business plans they have laid out will drive growth,” he said.

JACKSONVILLE DAILY RECORD / JACKSONVILLE RECORD & OBSERVER

THURSDAY, AUGUST 12, 2021

Top 10 home sales of week FROM STAFF

Here are the top 10 single-family residential real estate sales in Northeast Florida, comprising Duval, Nassau and St. Johns counties. The sales were recorded Aug. 2-8.

JaxDailyRecord.com ST. JOHNS

NASSAU

$2,550,000

$2,350,000

221 Settlers Row N., Ponte Vedra Beach

1600 Fletcher Ave. S., Fernandina Beach

Type: Single-family Lot size: 0.55 acres House size: 5,883 square feet Buyer: Min Li Seller: Heather A. Moore and the Heather A. Moore Living Trust Previous sale: $1,825,000 in 2011

Type: Single-family Lot size: 0.32 acres House size: 2,148 square feet Buyer: 78 Sheridan Atlanta LLC Seller: Theron Rogers Previous sale: $805,000 in 2013

ST. JOHNS

$2,500,000 608 Ibis Cove Place, Ponte Vedra Beach NASSAU

$3,215,000 8 Sound Point Place, Fernandina Beach Type: Single-family Lot size: 0.85 acres House size: 4,767 square feet Buyer: John L. and Sherri L. Kalkreuth Seller: Robert W. and Carrie A. Selton Previous sale: $2,150,000 in 2005

About the property: Intracoastal Waterway frontage home features four bedrooms, five full and one half-bath, office, balcony, deck, summer kitchen and dock with boat lift.

ST. JOHNS

$3,200,000

$3,100,000

$2,850,000

24625 Harbour View Drive, Ponte Vedra Beach

528 Moonshine Drive, Ponte Vedra

225 Rivershore Lane, St. Augustine

Type: Single-family Lot size: 0.54 acres House size: 7,643 square feet Buyer: John Germinario Seller: Mark F. and Janet Armstrong Previous sale: $2,500,000 in 2004

Type: Single-family Lot size: 10 acres House size: Not available Buyer: Antonio Raimond Seller: Albert S. Mills

Type: Single-family Lot size: 0.21 acres House size: 4,496 square feet Buyer: Matthew B. Thomas and Chelsea Cunningham Seller: Tony E. Augustine

Type: Single-family Lot size: 0.51 acres House size: 5,994 square feet Buyer: The Natsch Family Trust Agreement Seller: Joshua and Nicole Resnick Previous sale: $1,750,000 in 2020

ST. JOHNS

$2,180,000 2511 S. Ponte Vedra Blvd., Ponte Vedra Beach Type: Single-family Lot size: 0.45 acres House size: 2,289 square feet Buyer: Brian and Summer Dumont Seller: Sherif A. Elfayoumy and Doaa Gamal Previous sale: $950,000 in 2016

ST. JOHNS

DUVAL

$2,350,000

$2,150,000

301 Pablo Road, Ponte Vedra Beach Type: Single-family Lot size: 0.57 acres House size: 2,535 square feet Buyer: Dream Finders Homes LLC Seller: Emily M. Szabo and the Carolyn Marsh Lindsay Living Trust Previous sale: $390,000 in 1997

4200 Ortega Forest Drive, Jacksonville Type: Single-family Lot size: 1.25 acres House size: 7,856 square feet Buyer: Michael and Meredith Jetton Seller: Barry R. and Robin C. Barco

PONTE VEDRA BEACH HOME READY FOR OCCUPANCY 2022

800-728-1934 x1217 • www.PonteVedraBeachNewHome.com For Direct Sales Inquiries Call Steve Williams 904-241-8687 *See Agent for Details. Subject to change without notice. For financing information, contact Paul Miller (NMLS# 121182) at SouthState Bank Mortgage. Cell: (904) 334-8080 | Email: paul.miller@southstatebank.com www.southstatebank.com/paulmiller All loans subject to credit approval. South State Bank and CenterState Bank, N.A. have merged to become South State Bank, N.A. NMLS #403455. Please visit bankingforward.com to learn more.

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RESIDENTIAL REAL ESTATE