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  • Danis prepping space for Chase Bank in Barnett building
    by Will Robinson on December 5, 2019 at 7:03 pm

    Danis Construction has begun preparing the 5,400-square-feet space on the first floor of downtown's Barnett building that will become a Chase Bank branch. The contractor is now prepping floors so construction can begin in January, project manager Brian Tellier told the Business Journal. Construction is expected to take six to eight months at an expected cost of $1.5 million. Chase will also join the skyline with a sign atop the Barnett building, which has been renovated for $53 million. The Barnett…

  • Jacksonville sees third record-breaking apartment sale this year
    by Will Robinson on December 5, 2019 at 6:18 pm

    Ravella at Town Center, a 306-unit apartment community built last year, has sold for $67.4 million, a Jacksonville record. Its per-unit price, about $220,000 is also a record. Missouri-based The Michelson Group purchased the property at 4674 Town Center Parkway, its first acquisition in Florida. The property was sold and developed by Texas-based Stanmore Partners. Walker & Dunlop's Brian Moulder and Dhaval Patel brokered the sale. The sale continues a strong 2019 for the Jacksonville market. The…

  • Kirby to replace Munoz as United Airlines CEO
    by Mark Mensheha on December 5, 2019 at 5:43 pm

    Oscar Munoz, chief executive officer of United Airlines since 2015, is leaving the position in May and will be replaced by J. Scott Kirby, currently president at United. Munoz will transition to the role of executive chairman of the board of directors of United Airlines Holdings Inc. (Nasdaq: UAL), the airline's Chicago-based parent company. The company announced the moves on Thursday morning. "With United in a stronger position than ever, now is the right time to begin the process of passing the…

  • First Baptist hires broker for 11-acre downtown property
    by Will Robinson on December 5, 2019 at 5:30 pm

    First Baptist Church has hired CBRE's Cliff Taylor, Joe Ayers and Oliver Barakat to broker the sale of 11.3 acres of contiguous property it owns downtown. The First Baptist property comprises six city blocks and houses three parking garages. The church's total downtown holdings have an estimated market value of more than $53 million, according to the Duval County Property Appraiser; the church is keeping 182,000 square feet of the 1.5 million square feet it owns. The church announced in September…

  • Who is Jacksonville's newsmaker of 2019?
    by James Cannon on December 5, 2019 at 4:53 pm

    Each year, the Jacksonville Business Journal selects the individual whose business activities have had the greatest impact on the First Coast. This year, we'd like your help in doing so. In the attached poll, pick the individual who most shaped 2019 locally — for good or bad.

  • Florida Supreme Court weighs primary election overhaul
    by Jim Saunders on December 5, 2019 at 2:39 pm

    It’s dubbed a “jungle” primary system. And the Florida Republican and Democratic parties want no part of it. Now, the Florida Supreme Court will decide whether a proposed constitutional amendment that would overhaul the state’s primary-election system will go before voters in November 2020. Justices heard arguments Tuesday about the proposed amendment, which would allow registered voters to cast ballots in primary elections regardless of party affiliation. The two candidates getting the…

  • UF Health office at Wildlight will start accepting patients soon
    by Ellen Schneider on December 5, 2019 at 1:04 pm

    The new Nassau County medical office, at will open Dec. 6, and start accepting patients then. The UF Health office will offer comprehensive health services, including urgent care, family medicine, imaging, lab services, obstetric and gynecology, pediatrics and psychiatry. Dentistry will also become available in early January. The building is 40,000 square feet of office and medical space. The office is using a patient-centered model focused on prevention and early diagnosis. The facility is…

  • Patriot Transportation Holdings acquires trucking company, revenues decline
    by Ellen Schneider on December 5, 2019 at 1:04 pm

    Patriot Transportation acquired Danfair Transport, a Georgia-based trucking company, in November. "We are very excited about this acquisition as it fits nicely into one of the most stable market areas in our network and provides an opportunity to grow with some new customers in other markets we serve," Patriot Transportation said in a financial statement released Wednesday. Danfair has a total revenue of $2 million in 2018, compared to roughly $108 million in total revenues for Patriot in 2019,…

  • Jacksonville's bike share program is still coming, at some point
    by Ellen Schneider on December 5, 2019 at 1:02 pm

    Jacksonville's bike share program is in the wind. Despite approving the program and identifying a bike share partner, VeoRide Inc., in February, Downtown is no closer to seeing a program. The service was expected to launch in March, if all negotiations went well. The Jacksonville Transportation Authority received requests for proposals from five companies, including Lime, Inc. and created a short list of three before finally landing on VeoRide. "As far as I know, the city is still reviewing…

  • Top CRE sales for the week of Dec. 3
    by Will Robinson on December 5, 2019 at 1:00 pm

    Jacksonville saw 11 commercial real estate sales of at least $1 million close since Nov. 22, with sales totaling about $48.3 million. Investment came from California, Texas, Ohio and Florida. Lighthouse Jax LLC, an affiliate of California-based The Lighthouse Group, purchased the Beauclerc Bay Apartments at 9047 San Jose Blvd for $9.3 million on Dec. 2. The property was previously purchased in April for $6.8 million. Texas-based 5821 San Juan Avenue LLC purchased 5821 San Juan Avenue for $7.8 million…

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