Gateway Jax adds to Downtown property portfolio with LaVilla purchase

[thelakelander]

Investors in Gateway Jax, already with at least 28 acres under ownership in Downtown Jacksonville, have added another 2.85 acres in LaVilla with the acquisition of the former Interline Brands Inc. building at 801 W. Bay St.

Through 801 Bay St LLC, Gateway Jax bought the property Oct. 31. It paid $4 million for the two-story, 38,136-square-foot Interline building developed in 1998 at northwest Bay and Jefferson streets, according to a deed executed Oct. 31 and recorded with the Duval County Clerk of Court Nov. 5

“The approximately 38,000 square foot building with surface-level parking remains available for lease. While there are no immediate plans for additional development on this parcel, Gateway Jax believes in the growth potential of the LaVilla neighborhood and may reimagine the site as part of a larger development plan in the future.”

Full article: https://www.jaxdailyrecord.com/news/2024/nov/06/gateway-jax-adds-to-downtown-property-portfolio-with-lavilla-purchase/

[Steve]

This feels like a "buy and hold" one. While close to Johnson commons, how many different sectors of downtown can they develop at one time?

(Personally I'd love to see them develop everything they have!)

[Charles Hunter]

Someone needs to give the Daily Record a map, or a lesson in how to read one.

The property is north of the Lofts at Jefferson Station apartments and south of the Prime F. Osborn III convention center and the Jacksonville Transportation Authority headquarters.

The property is EAST of the JTA HQ and the Prime.

[Jax_Developer]

More importantly, the city/JTA/Johnson commons all own close to a dozen acres of contiguous public land, right now, some that is available for RFP that hasn’t been able to be utilized.