Atlantic North: Jacksonville's Next Major Retail Center

[Metro Jacksonville]

Atlantic North: Jacksonville's Next Major Retail Center



The push to redevelop the Jacksonville Landing may have cooled down but life is good at Sleiman Enterprises' developing Atlantic North shopping center.


Read More: http://www.metrojacksonville.com/article/2014-dec-atlantic-north-jacksonvilles-next-major-retail-center

[I-10east]

I hate that decision to build Belk there. They put a longtime Belk at Regency out of business, then added a commonplace replacement down the road, it made zero sense to me... Believe me, I'm not one of these guys that's really big on Macy's, but how about a Macy's? On the name recognition alone, it would've generated tons of buzz, versus one of many neighborhood-ized Belks. I'm surprised that Nordstrom at SJTC wasn't a Belk... 

[Rob68]

Thats exactly what this city needs ...another fucking shopping center..with the kind of cash these boys have youd think theyd get more creative than another fucking shopping center...

[fieldafm]

They put a longtime Belk at Regency out of business, then added a commonplace replacement down the road, it made zero sense to me

Generally, when you run a business... you have to make make more than you spend. Closing an underperforming store and opening a new location on a site with better demographics makes perfect sense.

[spuwho]

Formerly called "The Fountains" it was originally supposed to be surrounded with ponds with water fountains in each.

After they got relief on the mobility fee, they filled in the ponds and turned them into outparcels. Then the name was changed to Atlantic North.

Kernan Boulevard north of this is funded (by the recent tax renewal) to be widened from 2 lanes to 6 from the Atlantic interchange to McCormick/Wonderwood. Kernan is also funded by COJ to be widened from 4 to 6 lanes from JTB to UNF Alumni Hall along with improvements to the Kernan exit from JTB.

The only corner Mr Sleiman doesnt own is held by the Titus Harvest Dome Church. That is currently leased to the Marble Waters Hotel which is owned by the church pastor Rev RJ Washington.

The Sleiman properties around the Walmart are nearly 100% leased. The only vacancies are a single unit facing Kernan. While outparcels in front of Kohls are doing well, the fast food parcels in front of Walmart have been vacant for over 5 years.

The corner anchored by BJ's and Walgreens will finally reach 100% when ATT takes over what had been a cycle of Chinese buffets and makes it a retail phone store.

What is interesting in the Kernan cooridor is that there is not one roadside fast food sign to be found.

Mr Sleimans company also owns more acreage west of Atlantic North and is pushing for another car dealership to locate there. Seeing that there are already 9 new car dealerships in a 2 mile stretch, adding another doesnt seem likely.

Also SE is attempting to woo a movie theater operator to Atlantic North. As posted earlier, I dont think that will fly due to market overlaps.

The question now is, what is next for Atlantic North after Belk opens?

[thelakelander]

I hate that decision to build Belk there. They put a longtime Belk at Regency out of business, then added a commonplace replacement down the road, it made zero sense to me...

Belk's new store is about 1/2 the size of the one they are closing at Regency. My guess is Belk is closing the Regency store for many of the same reasons that downtown department stores closed during the 1980s.  More obsolete space than what's needed for today's market and a higher cost associated with maintaining it.  If Belk wanted out, it would have probably been another shopping center to replace it or closing the store altogether.

[coredumped]

Anyone want to walk from Kohl's to academy?
Comon, it would be like real-life frogger!



We used to park downtown and walk everywhere. Then we used to park at the mall and walk within the mall. Now, we have to drive to go to the nearest store.

[finehoe]

Thats exactly what this city needs ...another fucking shopping center..with the kind of cash these boys have youd think theyd get more creative than another fucking shopping center...

The decisions of the "free" market are never to be questioned.

Generally, when you run a business... you have to make make more than you spend. Closing an underperforming store and opening a new location on a site with better demographics makes perfect sense.

Especially when it's the public at large who are footing the bill for the externalities.

[I-10east]

Belk's new store is about 1/2 the size of the one they are closing at Regency. My guess is Belk is closing the Regency store for many of the same reasons that downtown department stores closed during the 1980s.  More obsolete space than what's needed for today's market and a higher cost associated with maintaining it.  If Belk wanted out, it would have probably been another shopping center to replace it or closing the store altogether.

You and Field are right. It just seem like Jax has an overwhelming amount of Belk's, six in the metro (including St Aug). It's disappointing when you have a chance to bring something new and exciting to the area (like Earthfare in the same strip) and the more of the same comes. We have 1/4 of the Belk's in the state, and nearly all of the other's are in small towns like Lake City, Leesburg, and Destin.

[Wacca Pilatka]

Reminiscent of when JC Penney left Gateway for the store on Dunn.

[I-10east]

^^^Or Dunn's Marshall's for RCMP.

[JeffreyS]

Well this is a big pile of $#¡¶.

[JECJAX]

Question - why couldn't this deveopment been done at Regency Square ?  It's only 3 miles away and access is 1000 times better than the Atlantic North development ?? I know the mall is outdated but the property is already more shopper friendly than Atlantic North plus several anchor stores are already there ?  Tear the mall down and redevelop the property

[mbwright]

Shopper friendly is old school.  It's not fun if you can't get wet, and run over while shopping for less selection.

[spuwho]

For starts...

Sleiman Enterprises doesnt own Regency.
The properties in and around Regency are owned by others
Sleiman is offering a lower cost psf to his tenants (I assume)

I am not privy to what Mason offered Belk as part of a retention plan. I suspect that Belk was already down the road with Sleiman before Mason closed the deal. I am sure GGP was not willing to make any deals on a property they were unloading.