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Jacksonville Business Journal
Demolition first step toward new Pinstripes location
The Simons Property Group received a city permit on Thursday for a $361,498 demolition of the building at 10274 Buckhead Drive in the St. Johns Town Center.<\p> Previously the site of retailer West Elm, this demolition is the first step in preparing the site for a future 29,354-square-foot, two-story Pinstripes lifestyle center. Jacksonville-based England-Thims & Miller submitted the civil engineering plans April 26 for Pinstripes at Town Center.<\p>
Another Shipyards development under review
A week after the city approved vertical construction for Jacksonville Jaguars owner Shad Khan’s office building, his development company submitted site plans for the final component of the Shipyards development.<\p> Iguana Investments Florida LLC filed plans for the marina support building, event lawn and Riverwalk on 1.92 acres next to the Four Seasons Hotel & Residences and office building Wednesday.<\p>
Alien Taco build-out receives permit
The City of Jacksonville generated a permit Thursday for a $38,500 build-out at 7643 Gate Parkway. The plan is to construct a 2,600-square-foot Alien Taco restaurant.<\p> When finished, the interior will hold an estimated 96 seats and its patio, 24 seats. <\p>
Spec industrial/office space proposed in St. Johns, seeking incentives
A spec industrial/office project is likely coming to St. Johns County, and it could receive a boost from the county government.<\p> Pavo LLC, which is based in Wyoming but has an office in Sarasota, has proposed a 22,680-square-foot project located near the intersection of Interstate 95 and International Golf Parkway.<\p>
Wawa proposed near Jacksonville airport
More gasoline and hoagies may soon be closer to the Jacksonville International Airport.<\p> Plans to build a Wawa near the airport will be reviewed at the next board meeting for the Jacksonville Aviation Authority. Board members will decide whether to approve the construction of the new convenience store and gas station Monday.<\p>
AI's latest casualty? Entry-level jobs
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at how artificial intelligence is taking roles that used to act as entry-level positions; Frontier Airline's strategy targeting business travelers; and how you can buy everything in a Red Lobster restaurant. But we'll start with what higher-for-longer rates mean for those in the real estate business.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
First Look: Here are the local top small real estate teams in 2024
The flurry of rising prices and bidding wars in the aftermath of the pandemic might be over, but local real estate agents are still optimistic about the market’s growth potential.<\p> The overall sentiment remains positive, buoyed by Jacksonville’s robust economy, job market and the ongoing influx of relocating buyers. Agents highlight the city’s appeal, affordability and growth potential as key drivers of market strength. Despite challenges like rising interest rates and a slowdown during election season, many anticipate continued growth, especially if interest rates decrease.<\p>
CEO of UF Health St. Johns to step down
Carlton DeVooght, CEO of UF Health St. Johns, has announced his resignation effective June 7.<\p> The leader of the St. Augustine-based section of the UF Health system, DeVooght has guided the provider through a time of significant change.<\p>
DIA executive's contract extended
The CEO of the Downtown Investment Authority is willing, and now able, to serve for two more years in her position.<\p> After five years leading the organization, Lori Boyer will serve another year with the option for one more. In a unanimous vote Wednesday, the DIA board decided to move forward on negotiating a new employment agreement for Boyer, which should be “substantially similar” to the existing agreement. Her current salary is $227,089 and will remain the same.<\p>
Here's questions the public had about the Jags deal
Tuesday night, representatives from the city and the Jaguars rolled out the plan for a $1.4 billion upgrade to EverBank Stadium to a crowd in suits.<\p> Wednesday, they took the show on the road, presenting the plan to crowd decked out in teal T-shirts and Jaguars caps.<\p>
Southbank high-rise incentive deal passed on to City Council
The future of the Related Group’s high-rise development planned for the Southbank depends on City Council’s willingness to provide a $39 million completion grant.<\p> The Downtown Investment Authority unanimously forwarded a recommendation for City Council approval for the incentives for the high-rise development at the former River City Brewing site at its board meeting Wednesday. <\p>
'We've got a lot of questions' — Council president on stadium deal
With Mayor Donna Deegan unveiling a tentative Stadium of the Future agreement with the Jacksonville Jaguars to City Council on May 14, the question is: What happens next?<\p> With consideration for the stadium in City Council’s hands, the Business Journal spoke Wednesday afternoon to Council President Ron Salem to learn his initial reaction to the deal and what steps the Council will take next.<\p>
Eastside community looking forward after 'positive' Jags stadium deal
With $300 million in initiatives (split evenly between the City of Jacksonville and the Jaguars over 30 years) committed to community investment as part of the Stadium of the Future deal, historic Eastside leaders are encouraged.<\p> “We are excited about funding finally coming to the Eastside neighborhood, and it not being seen as a one off, something separate, but an inclusive complement to development in that area,” Suzanne Pickett, president of the Historic Eastside Development Corporation told the Business Journal. <\p>
Jacksonville-based Patriot Rail names new CEO
A new CEO is set to take the helm at Patriot Rail.<\p> Brandy D. Christian was appointed as the new CEO for the Jacksonville-based operator of short line and regional freight railroads, according to a news release on Tuesday.<\p>
Restaurant, retail project near Mango's expected to go forward
The City of Jacksonville Beach approved a rezoning request from Jax Beach Investment Holdings for a proposed mixed-use development in the 100 block of Fifth Avenue North in Jacksonville Beach, adjacent to Mango’s Beach Bar. <\p> The preliminary development for the property includes a two-level complex with retail space on the ground floor and above, a "high-end" restaurant that features “coastal Tulum Mediterranean-inspired cuisine” with an added lounge and private member club.<\p>
Elevated interest rates force re-pricing of billions in CRE debt
Just shy of $20 billion in commercial mortgage-backed securities debt backing U.S. office properties is set to mature in the next year, occurring at a time that's now also expected to feature a higher-for-longer interest-rate environment. <\p> Moody's Analytics Inc. found that as of April, $19.9 billion in office CMBS loans will mature by next spring. That's a marked increase over the $8.75 billion in office CMBS debt that matured in 2023. <\p>
Jaguars to play twice in London in '24
As the Jacksonville Jaguars sort out their future in Northeast Florida in ongoing stadium discussions, the NFL has determined where two of its games will be played in the upcoming season.<\p> For the second year in a row, the Jaguars will play two games in London. <\p>
Young entrepreneurs bringing first Dirty Dough shop to NE Florida
When Caleb Hutchinson and his wife, Jalen, were trying to decide what kind of business they wanted to start, they asked themselves what they missed from when they lived in the West.<\p> Their thoughts quickly went to some of the treats they enjoyed with their young family like custom sodas, specialty ice cream and cookies.<\p>
The coveted perk that could be critical for workforce development
As the focus shifts from recruitment to retention in a still-tight hiring market, many employers are searching for the incentives that will retain workers. <\p> While perks like four-day workweeks, unlimited vacation and remote work are often in the spotlight, another coveted perk is career development and upskilling opportunities. <\p>
Here's what the Jaguars' Stadium of the Future deal looks like
After more than a year of discussion and months of negotiations, the Jacksonville Jaguars and Mayor Donna Deegan have reached a tentative stadium deal that evenly splits the $1.4 billion cost of renovating EverBank Stadium into the Stadium of the Future.<\p> Deegan, city chief negotiator Mike Weinstein and Jaguars president Mark Lamping stood before City Council Tuesday evening to roll out the deal. <\p>
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