FRIDAY July 24, 2020
Public
jaxdailyrecord.com • 35 cents
legal notices begin on page 4
Daily Record JACKSONVILLE
THE MATHIS REPORT
CSX revenue falls 26% in second quarter
Daily Record JACKSONVILLE
The CSI Companies to lease The Point at Gate Parkway
“The most disruptive quarter I have experienced,” CEO Jim Foote says.
Daily Record Daily Record JACKSONVILLE
BY MARK BASCH CONTRIBUTING WRITER
and move in February or March, Flakus said. It continues to hire in the meantime. CSI said the building features a horseshoe-shaped layout, a Flakus private center courtyard, and an interconnected stairwell with marble and stone finishes. CSI said the space will feature a stateof-the-art fitness center on the first floor and a café-style lounge as well as collaborative spaces around the building. The building will be the home for CSI specialty divisions: CSI Financial, CSI Healthcare IT, CSI Professional, CSI Tech and its nonprofit organization, CSI
Freight traffic at CSX Corp. is picking up after COVID-19-related business shutdowns in the spring. However, as it reported sharply lower second-quarter earnings, CEO Jim Foote said July 22 it is difficult to predict when business will fully recover. Jacksonville’s other Fortune 1000 transportation company, Landstar System Inc., also reported a drop in earnings and revenue for the quarter on July Foote 22. CSX reported second-quarter revenue fell 26% to $2.26 billion with earnings of 65 cents a share, down from $1.08 in the second quarter of 2019. “This was the most disruptive quarter I have experienced in my career with both the fastest decline in volumes followed by one of the most rapid increases in volumes in the company’s history,” Foote said in the railroad company’s conference call with analysts. He said freight volume dropped more than 25% early in the quarter but has bounced back by 20% since Memorial Day. “We are happy to see the volumes recover from the May trough as the economy strengthens. However, while these trends are encouraging, the ultimate path of the recovery remains too
SEE MATHIS, PAGE 2
SEE CSX, PAGE 2
JACKSONVILLE
Special to the Daily Record
The CSI Companies will relocate and expand its headquarters at The Point at Gate Parkway at 7720 Baymeadows Road E. early next year.
KAREN BRUNE MATHIS EDITOR
The Jacksonville-based national staffing firm will relocate its headquarters within the suburbs to larger space.
The CSI Companies announced July 23 it will relocate and expand its headquarters at The Point at Gate Parkway at 7720 Baymeadows Road E. CSI is a national staffing firm with about 130 Jacksonville employees now based at 9995 Gate Parkway N., about 4 miles north of the new site. The CSI Companies was founded in 1995 and marks its 25th anniversary this year. “We have outgrown our current building and because this is our national headquarters, we were looking for someplace we can be for the next 10+ years,” Chief Operating Officer Chris Flakus said in an email. Ash Properties developed the threestory, 54,354-square-foot Point at Gate Parkway. CSI will occupy the entire building
Hillwood sells Wayfair fulfillment center Cecil Commerce Center master developer Hillwood sold the Wayfair Inc. fulfillment center to investor Stockbridge Capital Group LLC for almost $75.5 million. The deed was recorded July 21 with the Duval County Clerk of Courts. The 1.01 million-square-foot e-commerce fulfillment center occupies about 80 acres at 13483 103rd St. Hillwood sold the property through 103 BLDG A-B LLC. Stockbridge Capital is based in San Francisco. It bought the property through Cecil Distribution LLC. Wayfair, the Boston-based online home furnishings company, intends to lease the building and open it this summer.
VOLUME 107, NO. 176 • ONE SECTION