WEDNESDAY November 11, 2020
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Daily Record JACKSONVILLE
THE MATHIS REPORT
Jay Stowe signs CEO contract with JEA
With aDaily new division office and a store, Record Circle K expanding in Regency area JACKSONVILLE
The utility’s next chief executive starts Nov. 30 with a $560,000 base annual salary.
Daily Record Daily Record JACKSONVILLE
BY MIKE MENDENHALL STAFF WRITER
Square Blvd. Lane Architecture is the architect. The international convenience-store chain is building-out 11,147 square feet of space on the fourth floor of the fivestory North Regency One building. Circle K will move the office from Waycross, Georgia. Heather Risener, brand, communications and advertising manager for the Circle K South Atlantic Division, said Sept. 30 it will employ up to 60 people. Most live in the Jacksonville area or plan to relocate. She said the move tentatively is scheduled by the end of November, although that might be adjusted.
Jay Stowe’s first day on the job as CEO and managing director of city-owned utility JEA will be Nov. 30. The former Tennessee Valley Authority and Huntsville, Alabama, public utility executive signed a five-year contract with JEA on Nov. 6. It includes a base salary of $560,000. JEA board C h a i r Jo h n Baker signed the fully executed contract Nov. 8. Stowe’s deal includes JEA’s standard pen- Stowe sion and health benefits; a monthly $850 vehicle allowance; a $1,000 monthly business allowance; and an immediate allowed grant of 80 hours of leave. He then will accrue leave at the same rate as JEA employees with five years of service at 184 hours a year. Stowe will receive a 3% annual salary increase beginning in November 2021. The board selected the 52-yearold Stowe as its next leader during a special meeting Nov. 2 to replace interim CEO Paul McElroy. McElroy came out of retirement May 8 to lead JEA on a six-month contract after the board fired former CEO Aaron Zahn in January. Stowe is CEO and founder of Stowe Utility Group LLC in Chattanooga, Tennessee. He is the former senior vice president
SEE MATHIS, PAGE 2
SEE STOWE, PAGE 2
JACKSONVILLE
OFFICE AND A STORE
Above: The Circle K South Atlantic Division office is moving to the North Regency One building at 9485 Regency Square Blvd. where it is building-out 11,147 square feet of space on the fourth floor.
Left: Circle K plans a $2.14 million convenience store and gas station at northwest Atlantic and Southside boulevards, the former site of Coggin Pontiac and a JEA staging site.
File images
KAREN BRUNE MATHIS EDITOR
The gas station and convenience store chain has more than 100 area locations.
Circle K is creating a larger retail and office presence in the Regency area. The city approved a permit Nov. 6 for Duckworth Construction Co. to buildout the Circle K South Atlantic Division office in the North Regency Executive Park. The building is east of Southside Boulevard and north of Regency Square Mall. About 1½ miles south, Circle K proposes an almost $2.14 million convenience store and gas station at northwest Atlantic and Southside boulevards, the former site of Coggin Pontiac and a JEA staging site. For the division office, Duckworth Construction is the contractor for the $219,399 project at 9485 Regency
Spyglass apartments in Baymeadows sold for $54M San Diego-based ConAm Management Corp. paid $54 million for the 252-unit Spyglass apartments in Baymeadows, Walker & Dunlop announced Nov. 5. Jacksonville-based Fort Family Investments sold the property at 8540 Homeplace Drive across from Fort Family Park. It built the community in 2015. Brian Moulder, Dhaval Patel and Bobby Gatling, multifamily sector specialists with Walker & Dunlop in Jacksonville, brokered the sale. Monthly rents range from $1,105 for a studio to $1,955 for a three-bedroom unit.
VOLUME 107, NO. 253 • ONE SECTION