WEDNESDAY December 22, 2021
WaterWalk hotel breaks ground
jaxdailyrecord.com • 35 cents
PAGE 2 Public legal notices begin on page 3
Daily Record JACKSONVILLE
THE MATHIS REPORT
NorthPoint Daily Record Building 7 OK’d for construction Daily Record JACKSONVILLE
Photo by Monty Zickuhr
Work is underway inside the former Staples at 10261 River Marsh Drive.
WAREHOUSE IN WORKS JACKSONVILLE Pattillo Industrial Real Estate is developing the NorthPoint Building 7 on 18.88 acres at 3397 Port Jacksonville Parkway in North Jacksonville. The speculative 314,900-square-foot warehouse is expected to be completed in the first quarter.
City permits Marshalls build-out at Town Center The off-price retailer is replacing the Staples store that closed in July.
Daily Record JACKSONVILLE
BY KAREN BRUNE MATHIS EDITOR
Special to the Daily Record
KAREN BRUNE MATHIS EDITOR
The Conlan Co. will build the 314,900-squarefoot shell warehouse at a cost of$15.44 million. Jacksonville’s hot industrial market is adding more space. The city issued a permit Dec. 16 for The Conlan Co. to build the shell of a 314,900-squarefoot warehouse in NorthPoint Industrial Park at a cost of $15.44 million. Pattillo Industrial Real Estate is developing the NorthPoint Building 7 on 18.88 acres at 3397
Port Jacksonville Parkway. The Conlan Co. built the foundation at a cost of $325,500. Pattillo Industrial Real Estate Vice President Peter Anderson said previously the building was designed speculatively for lease to up to two tenants, starting at 120,000 square feet. Completion of NorthPoint 7 is expected in the first quarter. NorthPoint Industrial Park is designed for 11 buildings along Port Jacksonville Parkway between New Berlin Road and Alta Drive. Atlanta-based Stone Mountain Industrial Park Inc., a Pattillo affiliate, owns the 362-acre NorthPoint. As of the third quarter, industrial vacancy was 3.6% to 4.3% in Northeast Florida with much space quickly leased. Market reports show that up to 4 million square feet of space is under construction, and most of that will be fully leased by the end of the third quarter of 2022. KMATHIS@JAXDAILYRECORD.COM (904) 356-2466
The city issued a permit Dec. 13 for the $1.63 million tenant buildout for the Marshalls off-price retailer at the closed Staples store in St. Johns Town Center. VCC LLC of Little Rock, Arkansas, is the contractor for the 23,694-square-foot project. The city issued a permit Oct. 5 for VCC to turn the closed Staples into shell space for later tenant build-out for Marshalls at a cost of $526,837. That takes the total investment to $2.16 million. Staples closed the office supplies and services store at 10261 River Marsh Drive as of July 23. Marshalls has six area stores in North and West Jacksonville, Mandarin, Jacksonville Beach, Orange Park and St. Augustine. TJX acquired Marshalls in 1995. The TJX Companies Inc. also owns T.J. Maxx, HomeGoods and other brands. The company, based in Framingham, Massachusetts, says it is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide with more than 4,600 stores.
KMATHIS@JAXDAILYRECORD.COM @MATHISKB (904) 356-2466
Orange Park apartments sold for $118 million The Villages at Oakleaf Plantation in Orange Park sold for $118 million on Dec. 15. The sale comprises three apartment communities – The Villages of Oakleaf Plantation, Millstone Village and the Gemstone Apartments. The apartments were built in phases from 2009 to 2017. LeClair Management Inc. of Fort Lauderdale sold the properties to Venterra Realty Inc. of Richmond Hill in Ontario, Canada. The communities total 512 units with a per-unit sales price of $230,469. It is the second-largest single-asset sale for a multifamily community in the Jacksonville area, according to a news release from Colliers International. The 1,112-unit Paradise Island sold for $120 million in February 2017.
VOLUME 109, NO. 27 • ONE SECTION