Daily Record Financial News &
TUESDAY, OCTOBER 25, 2016
Vol. 103, No. 247 • oNe SectioN
35¢ www.jaxdailyrecord.com
Hines pays $20M for Gate Parkway site
By Karen Brune Mathis Managing Editor
There’s still no formal name, but the Hines group’s large mixed-use project near St. Johns Town Center has taken a pivotal step toward development. The global real estate firm bought the land last week, paying $20 million for property it intends to develop for residences, retail stores, a hotel, offices, services, parks and green space.
Through S-15 Land Holdings LLC, Hines bought the property along Gate Parkway on Oct. 18 from He Otter LLC and He Shoulda Investments LLC. Hines took out a $9 million mortgage from Atlantic Coast Bank of Jacksonville. The deed and mortgage were recorded Monday with the Duval County Clerk of Courts. Hines Managing Director Lane Gardner said in a statement Monday evening the company has
closed on the first phase of the development and further details, including the number of acres purchased, will be released later. He said there is no name to announce for the property, referred to during early planning as Mill Dam Branch. Hines plans to announce the name in the next few months. The site is at southwest Butler Boulevard and Interstate 295 and stretches from the FBI Building to the Shoppes at Village Walk.
It was reported previously that Hines contracted for a little more than 100 acres, of which about 75 acres can be developed, from members of the Skinner family. Hines has said it expects to complete the project in phases over six to eight years. To start the project, the city is reviewing the mass grading, roadway and utility plan for the property. England, Thims & Miller Inc. is the civil engineer. Gardner said Hines hopes to
start infrastructure work within the next month. An architectural site plan shows two lakes surrounded by parcels identified for residential, office, commercial and commercial-office. Gardner said the mix of uses is evolving. “Ultimately the market will dictate the final square footages within those approved,” he said. Hines also has been talking HINES CONTINUED ON PAGE A-2
Anderson center to serve the Southeast
Cancer facility will put city ‘more on the map’
Downtown’s first parklet open for business
Photo by Max Marbut
By Max Marbut Staff Writer
Downtown Investment Authority CEO Aundra Wallace cut the ribbon Monday morning to open Jacksonville’s first parklet. He was joined by Downtown Vision Inc. CEO Jake Gordon, DVI board members, project consultants and other supporters. The parking space turned public space is along West Adams Street in front of The Brick Coffee House in the Ed Ball Building. Wallace said the first parklet is important for Downtown because it will boost pedestrian activity and increase revenue at nearby businesses. The construction cost — about $10,000 — was covered by proceeds from DVI’s inaugural gala. The Urban Land Institute provided a $15,000 grant to develop a guide for creating a parklet.
Reeling in real estate’s young guns By Kevin Hogencamp Contributing Writer
Cole Slate is an anomaly in the real estate profession. Not because he’s a high-producing entrepreneur who pays it forward by mentoring new agents. And not because he advocates for the industry and is steeped in community service. But because he’s all of that — and 29 years old. “It’s an exciting, fulfilling way to make a living, that’s for sure,” said Slate, of Exit Real Estate Gallery in Jacksonville. Slate and many other young guns of real estate — the industry’s successful 20- and 30-somethings — typically are products of advanced training programs and mentorships, Northeast Florida agents and brokers say. Real estate’s up-and-comers also tend
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to have technological savvy, a desire to be in a team setting and a laser-focus on making a good living. “(Today’s agents) are commission-oriented and they want a lot of help when they get started, instead of figuring it out as they go like we did in the old days,” said Anita Hiles, managing broker of Realty Executives Oceanside in Jacksonville. They also are hot commodities, particularly because of the huge age gap between sales agents and the largest chunk of today’s homebuyer — millennials. The National Association of Realtors says in 2015, 41 percent of Realtors were 60 and older, while 2 percent were under 30. After holding steady for many years, the median Realtors’ age fell from 57 in 2014 to 54 in 2015, the NAR said. YOUNG GUNS CONTINUED ON PAGE A-3
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Exit Real Estate Gallery’s Cole Slate is among Northeast Florida’s young guns of real estate, who are highly sought by companies. He’s pictured with Amy Snoddy, Exit relationship manager; Amber Junker, PHP Consulting marketing and event consultant; and Erika Pledger, an Exit agent.
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Special to the Daily Record
Entrepreneurial, tech-savvy millennials are hot commodity with area brokers
World-class care for better health and improving lives is how Dr. Bill Putnam describes the mission of Baptist MD Anderson Cancer Center. He was the Rotary Club of Jacksonville’s keynote speaker Monday at the Omni Hotel. “We’ve been embraced by the community,” said Putnam. That was evident Sunday when Jacksonville Jaguars owner Shad Khan presented at $1 million gift to Hugh Greene, president and CEO of Baptist Health. Combined with matching funds, the donation will create a $2.25 million endowment for breast cancer prevention, treatment and care. When the cancer treatment and research center opens in 2018 at Baptist Health’s Downtown campus, it will be the fourth of six planned centers that will replicate the care available at the Putnam University of Texas MD Anderson Cancer Center in Houston, Putnam said. There also are centers in in Gilbert, Ariz., and Berkeley Heights and Camden, N.J. Jacksonville was chosen, Putnam said, due to Baptist Health’s scope of care and facilities and MD Anderson’s plan to establish regional cancer centers that can serve about 3 million people. “We’ll take the intellectual property that exists at MD Anderson together with Baptist Health’s patient care excellence and build on those strengths,” Putnam said. “Jacksonville will be the center for the Southeast,” said Greene. Putnam and other physicians have been treating patients for 12 months at an MD Anderson outpatient facility at Baptist Health. About 2,000 people have been treated to date, he said. When the new building is complete, the center will comprise more than 300,000 MD ANDERSON CONTINUED ON PAGE A-2
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