Author Topic: Sleiman Acquires Historic San Marco Properties  (Read 920 times)


thelakelander

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #1 on: August 16, 2019, 08:25:19 AM »
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Sleiman Acquires San Marco Square Properties



Sleiman Enterprises, the former owner of the Jacksonville Landing acquires key properties in San Marco Square. Will downtown's loss become San Marco Square's gain?

Read More: https://www.thejaxsonmag.com/article/sleiman-acquires-san-marco-square-properties/
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sanmarcomatt

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #2 on: August 16, 2019, 09:26:54 AM »
I have mixed feelings about this. I am no fan of Sleiman and certainly no fan of his work (does he own anything outside of crap strip malls?) but this is probably about the best hope for something going in that is worthy of the spot. Considering the location and the building itself, this should be the signature space of San Marco but has been pathetic. I am hoping for restaurant/bar and for it to be “done right”, it will take serious capital and vision. I am not sure how many local options are left so it may need someone from outside the area. I would think Sleiman would help in that regard. I worry that a national chain will be the answer, though.

It can’t be worse than Seafood Island Grille, right? Right?!?!

realestatejax

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #3 on: August 16, 2019, 09:34:16 AM »
I have mixed feelings about this. I am no fan of Sleiman and certainly no fan of his work (does he own anything outside of crap strip malls?) but this is probably about the best hope for something going in that is worthy of the spot. Considering the location and the building itself, this should be the signature space of San Marco but has been pathetic. I am hoping for restaurant/bar and for it to be “done right”, it will take serious capital and vision. I am not sure how many local options are left so it may need someone from outside the area. I would think Sleiman would help in that regard. I worry that a national chain will be the answer, though.

It can’t be worse than Seafood Island Grille, right? Right?!?!

I'm very optimistic that Sleiman will do something worthy of this space.  He is a San Marco resident as are many of the higher ups at Sleiman Enterprises.  He has the capital that space will need to make it a signature location in San Marco.  Man I would love something like Flying Iguana or Taco Lu!

sanmarcomatt

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #4 on: August 16, 2019, 10:07:15 AM »
I have mixed feelings about this. I am no fan of Sleiman and certainly no fan of his work (does he own anything outside of crap strip malls?) but this is probably about the best hope for something going in that is worthy of the spot. Considering the location and the building itself, this should be the signature space of San Marco but has been pathetic. I am hoping for restaurant/bar and for it to be “done right”, it will take serious capital and vision. I am not sure how many local options are left so it may need someone from outside the area. I would think Sleiman would help in that regard. I worry that a national chain will be the answer, though.

It can’t be worse than Seafood Island Grille, right? Right?!?!

I'm very optimistic that Sleiman will do something worthy of this space.  He is a San Marco resident as are many of the higher ups at Sleiman Enterprises.  He has the capital that space will need to make it a signature location in San Marco.  Man I would love something like Flying Iguana or Taco Lu!

If we are looking to the Beaches, than I am thinking Eleven South. Paging Karen Thomas.....

thelakelander

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #5 on: August 16, 2019, 10:10:42 AM »
I believe Sleiman gets a bad rap. In reality, he's no different from Regency or any of the other commercial real estate companies with significant retail development experience. In the case of the Jacksonville Landing, I believe it was pretty short sighted for COJ to not follow through with the Brown administration's attempt to work with them in redeveloping that site. It would have been built and open by now for $12 million in public incentives if we had stayed to course. Now we're nearing $25 million for a hole that will be dead of consistent activity through the entirety of Curry's second mayoral term. That miss (8 years minimum when you add up Curry's two terms) will set the revamp of that core downtown site back a good generation. As for the San Marco acquisition, I have higher hopes for it being revamped and leased years before the market and engineering studies for the Landing park site are completed.
« Last Edit: August 16, 2019, 10:13:31 AM by thelakelander »
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sanmarcomatt

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #6 on: August 16, 2019, 10:45:10 AM »
I believe Sleiman gets a bad rap. In reality, he's no different from Regency

When it comes to San Marco Square, I hope he is VERY different from Regency :)

Captain Zissou

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #7 on: August 16, 2019, 10:52:41 AM »
He is different than Regency in that his company is much smaller, more locally focused, privately held, and not working with a large company like Publix to negotiate the lease on this property.  Sleiman can get this capitalized and built up very quickly if he makes it a priority, however the long term vacancies in prime spaces in Miramar Center worry me.

sanmarcomatt

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #8 on: August 16, 2019, 11:10:52 AM »
He is different than Regency in that his company is much smaller, more locally focused, privately held, and not working with a large company like Publix to negotiate the lease on this property.  Sleiman can get this capitalized and built up very quickly if he makes it a priority, however the long term vacancies in prime spaces in Miramar Center worry me.

I was just joking as the Regency Lawn has been about as impressive as their dog shit stock.

Jagsdrew

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #9 on: August 16, 2019, 02:05:13 PM »
I'm excited for what's in store. He's basically cashed that check from the COJ and turned around and purchased Lakewood Plaza and now three San Marco buildings. I think he will be able to pump some capital into those properties.
Twitter: @Jagsdrew

Papa33

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #10 on: August 16, 2019, 02:32:05 PM »
I believe he will re-brand Lakewood Promenade as THE Jacksonville Landing.

jaxlongtimer

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #11 on: August 16, 2019, 06:31:58 PM »
Sleiman can get this capitalized and built up very quickly if he makes it a priority, however the long term vacancies in prime spaces in Miramar Center worry me.

For a price, most spaces can be rented.  If the vacancy is extensive, probably asking too much.  Between Sleiman, Hakimian and Ashourian, I wonder what percent of the mid-range or better retail square footage, exclusive of Town Center, the malls and River City Market Place, are controlled by them and if that concentration is impairing full price competition in some centers.  How unusual is it to have so few landlords dominate the landscape in a city the size of Jacksonville?

MusicMan

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Re: Sleiman Acquires Historic San Marco Properties
« Reply #12 on: August 17, 2019, 02:10:41 PM »
For anyone interested, the building housing "JACKRABBITS" is for sale on Loopnet.com

3200 sq feet with some private parking.

Asking $800,000   Looking at the listing it appears the club IS NOT included with the sale.....