Author Topic: ReddiArts ready for new owner  (Read 1328 times)

sanmarcomatt

  • Hero Member
  • *****
  • Posts: 1572
  • Donut Enthusiast
ReddiArts ready for new owner
« on: November 11, 2019, 02:27:18 PM »
MusicMan noted in another thread that this property is under contract. Business to be sold in a separate transaction.

https://www.bizjournals.com/jacksonville/news/2019/11/02/citys-oldest-arts-supply-business-up-for-sale.html




jcjohnpaint

  • Hero Member
  • *****
  • Posts: 1304
  • Jason John- www.jasonjohnart.com
    • Jason John Website
Re: ReddiArts ready for new owner
« Reply #1 on: November 11, 2019, 03:16:36 PM »
Talked to the owner a few days ago.  I guess a developer is interested in putting a low rise in the spot. 

MusicMan

  • Hero Member
  • *****
  • Posts: 2008
Re: ReddiArts ready for new owner
« Reply #2 on: November 11, 2019, 05:05:52 PM »
Hmmmmmmm  It's one acre.... And about 1500 apartments are either coming online or recently finished in the area.

jaxlongtimer

  • Sr. Member
  • ****
  • Posts: 268
Re: ReddiArts ready for new owner
« Reply #3 on: November 11, 2019, 07:10:22 PM »
At an acre, it could be a nice spot for another restaurant.   BB's next door seems to be doing great.  I guess Flavors of Thai is too.  Being in walking distance of several hotels and existing and new residential development should support the property well along with the Riverplace Blvd. makeover.

acme54321

  • Hero Member
  • *****
  • Posts: 2426
Re: ReddiArts ready for new owner
« Reply #4 on: November 11, 2019, 08:32:11 PM »
My wife and I were recently discussing that Readi Arts was on borrowed time at that location.  Guess we we weren't wrong.

MusicMan

  • Hero Member
  • *****
  • Posts: 2008
Re: ReddiArts ready for new owner
« Reply #5 on: November 11, 2019, 08:36:34 PM »
I am very curious as to what it sells for. COJ has it at $1.4 million which IMO is pretty spot on. The building probably will not survive the change in ownership.

Charles Hunter

  • Hero Member
  • *****
  • Posts: 2793
Re: ReddiArts ready for new owner
« Reply #6 on: November 11, 2019, 08:50:53 PM »
Back in my early career, went to Reddi Arts many times, to purchase Chart-Pak tapes in various colors and patterns. Then back to the office to make planning maps.  No computer graphics back then. Oh, and Exacto blades.  Glad I was using my employer's charge, because it seems that stuff was expensive!

Captain Zissou

  • Hero Member
  • *****
  • Posts: 3813
Re: ReddiArts ready for new owner
« Reply #7 on: November 12, 2019, 09:12:29 AM »
If my info is up to date then the building will be razed and 2 smaller buildings will be on the site.  One will have a little height to it (3-5 floors) and the other will be a restaurant.  My info is from august, so not sure if this is still the plan.

sanmarcomatt

  • Hero Member
  • *****
  • Posts: 1572
  • Donut Enthusiast
Re: ReddiArts ready for new owner
« Reply #8 on: November 12, 2019, 10:15:15 AM »
If my info is up to date then the building will be razed and 2 smaller buildings will be on the site.  One will have a little height to it (3-5 floors) and the other will be a restaurant.  My info is from august, so not sure if this is still the plan.

That sounds pretty good to me. Any chance it is the group behind the the Home St apartments? Since they have proven they can actually build something, I am impressed.

Captain Zissou

  • Hero Member
  • *****
  • Posts: 3813
Re: ReddiArts ready for new owner
« Reply #9 on: November 12, 2019, 10:21:42 AM »
If my info is up to date then the building will be razed and 2 smaller buildings will be on the site.  One will have a little height to it (3-5 floors) and the other will be a restaurant.  My info is from august, so not sure if this is still the plan.

That sounds pretty good to me. Any chance it is the group behind the the Home St apartments? Since they have proven they can actually build something, I am impressed.
Unfortunately, no.  I also just saw updated renderings.  Better than what's there now, but these could really use some work.  Luckily it's north of 95 so it has to go before DDRB.  Hopefully they stick to their guns on this one.

ProjectMaximus

  • Hero Member
  • *****
  • Posts: 3237
    • Firewalking Journey
Re: ReddiArts ready for new owner
« Reply #10 on: November 12, 2019, 10:45:53 AM »
New building hopefully means a better street frontage?

Luckily it's north of 95 so it has to go before DDRB.  Hopefully they stick to their guns on this one.

 ;D ;D

acme54321

  • Hero Member
  • *****
  • Posts: 2426
Re: ReddiArts ready for new owner
« Reply #11 on: November 12, 2019, 11:05:29 AM »
If my info is up to date then the building will be razed and 2 smaller buildings will be on the site.  One will have a little height to it (3-5 floors) and the other will be a restaurant.  My info is from august, so not sure if this is still the plan.

That sounds pretty good to me. Any chance it is the group behind the the Home St apartments? Since they have proven they can actually build something, I am impressed.
Unfortunately, no.  I also just saw updated renderings.  Better than what's there now, but these could really use some work.  Luckily it's north of 95 so it has to go before DDRB.  Hopefully they stick to their guns on this one.

Does one of the buildings front Kings Ave and the other Hendricks?  The Kings Ave "backside" of ReddiArts is pretty junky.  It would be really nice for that block if there was something fronting the street there.
« Last Edit: November 12, 2019, 11:07:57 AM by acme54321 »

sanmarcomatt

  • Hero Member
  • *****
  • Posts: 1572
  • Donut Enthusiast
Re: ReddiArts ready for new owner
« Reply #12 on: November 30, 2019, 08:31:38 AM »
The last page of the marketing materials has a map that includes the area MFH developments in various stages which I found interesting.Baby steps, baby!

https://florida.colliers.com/hubfs/Brokers/Jacksonville/Nancy%20Sumner/_Flyers/San%20Marco%20-%20Flyer.pdf

MusicMan

  • Hero Member
  • *****
  • Posts: 2008
Re: ReddiArts ready for new owner
« Reply #13 on: December 01, 2019, 10:37:54 AM »
"The Kings Ave "backside" of ReddiArts is pretty junky.  It would be really nice for that block if there was something fronting the street there."

It would improve greatly with out Reddi Arts junky look. It's a concrete block ware house. To the left is a decent reno by Jim Rinaman, an attorney friend of mine, and to the right is a decent looking building housing a marketing firm (CROP Creative Media). It will look a lot better once they fix the existing structure on Reddi Arts lot.  Jim owns 2/3 of an acre to the left of Reddi Arts (Kings Ave side.)  He has a nice brick building (2 stories commercial) plus a strange parking structure (behind the doggie day care) which could use some work.....
« Last Edit: December 01, 2019, 10:46:09 AM by MusicMan »

Captain Zissou

  • Hero Member
  • *****
  • Posts: 3813
Re: ReddiArts ready for new owner
« Reply #14 on: December 02, 2019, 10:08:33 AM »
Excluding the District, there are almost 3,700 units in what DVI considers "downtown" listed on that slide. On a busy night, I wonder how close the hotels get us to 10,000 people downtown.

That Block 1 development on Hendricks will really help connect north san marco to the southbank.  That is the development I'm most hopeful for.  A similar apartment development was recently completed in Gainesville that has a Target, Bento, Chick Fil A, MOD Pizza, Miami Subs Grille, and a Chase Bank on the bottom floor.