JULY 14 TO JULY 20, 2022 | JAXDAILYRECORD.COM
BUSINESS & LEGAL NEWS IN BAKER, CLAY, DUVAL, NASSAU AND ST. JOHNS COUNTIES
BUSINESS STRATEGY
MUSSALLEMS MAKING MOVE TO A BIGGER VISION
INSIDE
COMMERCIAL REAL ESTATE
Four experts on the trends impacting the industry PLUS
PAGE 6
The top 10 commercial sales of the second quarter in Northeast Florida. PAGE 7 The top 10 sales of the past week. PAGE 8
YOU SHOULD KNOW
RS&H interior designer Briehn Wildman is a problem solver PAGE 9
Photo by Drew Dixon
Michael Mussallem and his wife, Elizabeth, are the co-owners of Michael’s Rug Studio and Mussallem Area Rug Specialist in Jacksonville. Michael Mussallem’s great-grandfather, Charles Mussallem, entered the rug business in Jacksonville in 1897.
Family-owned rug company is relocating to “the perfect spot.” BY DREW DIXON CONTRIBUTING WRITER
M
ichael Mussallem’s preparation for a new site for Michael’s Rug Studio and Mussallem Area Rug Specialist in Jacksonville is laying the groundwork for a broader business vision. His Mussallem Investments LLC paid $1.9 million on June 17 for a
10,700-square-foot building at 7119 Bentley Road and renovations are underway. The site near Butler Boulevard and Philips Highway more than doubles the space he leases at 7999 Philips Highway, Suite 306, about a mile south. The studio is a retail store for imported rugs while the specialist business is for cleaning services and repairs. Mussallem and his wife, Elizabeth, are
co-owners of the businesses and property, and are taking a big business step with the relocation. “I had never bought a piece of commercial property before. I said, ‘I needed 20,000 (square) feet,’ which in the scheme of things, is not what we needed,” Michael Mussallem said. With architectural consulting, they SEE RUG, PAGE 12
THE MATHIS REPORT
SilverLeaf Commons deals The first tenants are signed at SilverLeaf Commons, the commercial hub at the center of the masterplanned community in northern St. Johns County. PAGE 3 THE BASCH REPORT
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ICE defends its Black Knight deal
REAL ESTATE
Northeast Florida among leaders in new home starts The company that develops software for residential, insurance and commercial property inspections, ranks Jacksonville No. 4 in the U.S. PAGE 10
Intercontinental Exchange executive says said consumers and mortgage lenders will benefit from the merger because ICE’s investment in technology will lower costs. PAGE 14
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VOLUME 109, NO. 60 | TWO SECTIONS | PUBLISHED SINCE 1912