Author Topic: Parking Lot next to Omni sold  (Read 466 times)

Steve

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Parking Lot next to Omni sold
« on: July 10, 2018, 09:21:50 AM »
A group led by Miami-based real estate investor Ramon Llorens bought the 1.48-acre Downtown parking lot by the Omni Jacksonville Hotel, adding to his North Florida holdings.

It is across the street from the Times-Union Center for the Performing Arts.

Llorens, through Amkin Terra LLC, paid $6.83 million for the 317 Water St. property in a sale executed June 29 and recorded Monday with the Duval County Clerk of Courts.

https://www.jaxdailyrecord.com/article/the-mathis-report-miami-investor-buys-downtown-parking-lot-next-to-omni-jacksonville-hotel

Steve

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Re: Parking Lot next to Omni sold
« Reply #1 on: July 10, 2018, 09:22:33 AM »
One of the most Prime lots for development-as good as a captive audience as you can have with the TU Center and the Omni adjacent to it.

thelakelander

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Re: Parking Lot next to Omni sold
« Reply #2 on: July 10, 2018, 10:41:48 AM »
He's purchased a ton of key parcels and properties within the Northbank. It will be interesting to see what he has planned.
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Steve

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Re: Parking Lot next to Omni sold
« Reply #3 on: July 10, 2018, 10:45:12 AM »
He's purchased a ton of key parcels and properties within the Northbank. It will be interesting to see what he has planned.

Agreed-a lot of them are near each other too. He seems to have capital to do something large if he wanted to.

heights unknown

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Re: Parking Lot next to Omni sold
« Reply #4 on: July 10, 2018, 01:51:38 PM »
So...if someone acquires or purchases property in the urban core of a city, that means they will develop it? Could it just be an investment? I am hoping that they, or him has some type of development interest in mind not only for his own investment acquisition, but also because he or they have a particular interest in downtown Jacksonville and the city as a whole. He could also be purchasing in hopes that someone else wants to buy those properties from him for their own use and/or development.
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Steve

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Re: Parking Lot next to Omni sold
« Reply #5 on: July 10, 2018, 02:12:16 PM »
So...if someone acquires or purchases property in the urban core of a city, that means they will develop it? Could it just be an investment? I am hoping that they, or him has some type of development interest in mind not only for his own investment acquisition, but also because he or they have a particular interest in downtown Jacksonville and the city as a whole. He could also be purchasing in hopes that someone else wants to buy those properties from him for their own use and/or development.

Spending $6M+ to use solely as a parking lot charging people for going to shows at the TU Center or Omni people who don't want to use their garage seems like a REALLY long term strategy to make back that $6M. I can't imagine he'd want to spend that sort of money just for a parking lot.

KenFSU

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Re: Parking Lot next to Omni sold
« Reply #6 on: July 10, 2018, 02:52:37 PM »
He's purchased a ton of key parcels and properties within the Northbank. It will be interesting to see what he has planned.

Agreed-a lot of them are near each other too. He seems to have capital to do something large if he wanted to.

He's got property on the Southbank as well.

I believe he's said in the past that the properties are long-term investments that he's buying to hold, at least for the time being.