Author Topic: Kmart Property in Mandarin?  (Read 21299 times)

jaxlongtimer

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Kmart Property in Mandarin?
« on: June 02, 2022, 02:38:30 PM »
Anyone have an update on this?  There is now a construction fence around the entire perimeter (around the Zaxby's) of this property and the adjacent closed 5/3 Bank building.  I assume the bank property has been acquired to increase the development potential of the Kmart property.

Are they demolishing both buildings?  Is a big box store (Home Depot?) a candidate?  Or, another apartment complex?  Last thing Mandarin needs is another strip center.  Lots of vacant storefronts in the existing ones.

Jagsdrew

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Re: Kmart Property in Mandarin?
« Reply #1 on: June 02, 2022, 03:10:01 PM »
Initial plans were a SunRay movie theater but that was pre-Covid and those obviously fell through. Hearing shopping center split into anchor tenant plus smaller shops. But also heard multi-family so I don’t know what’s the truth just a lot of rumors since I live around that area. 

I think the fence was put in place bc of the whole car gangs that arose a month ago. They were burning out in that parking and along the intersections of San Jose.
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Steve

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Re: Kmart Property in Mandarin?
« Reply #2 on: June 02, 2022, 04:44:28 PM »
I think the fence was put in place bc of the whole car gangs that arose a month ago. They were burning out in that parking and along the intersections of San Jose.

Has to be more than that. There are signs from Balfour Beatty Construction about safety protocols and hard hat signs. Wouldn't need that for Car Clubs!

Jagsdrew

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Re: Kmart Property in Mandarin?
« Reply #3 on: June 03, 2022, 09:38:56 AM »
I think the fence was put in place bc of the whole car gangs that arose a month ago. They were burning out in that parking and along the intersections of San Jose.

Has to be more than that. There are signs from Balfour Beatty Construction about safety protocols and hard hat signs. Wouldn't need that for Car Clubs!

Depends on the stunts these cars clubs are doing!  ;D ;D
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jaxlongtimer

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Re: Kmart Property in Mandarin?
« Reply #4 on: July 31, 2022, 09:49:14 PM »
Anyone have an update on this?  There is now a construction fence around the entire perimeter (around the Zaxby's) of this property and the adjacent closed 5/3 Bank building.  I assume the bank property has been acquired to increase the development potential of the Kmart property.

Are they demolishing both buildings?  Is a big box store (Home Depot?) a candidate?  Or, another apartment complex?  Last thing Mandarin needs is another strip center.  Lots of vacant storefronts in the existing ones.

I just saw where Ash Properties, the owner of the Kmart and adjacent property says they put up the fencing to keep vagrants off the property.  At this time, they say they have no active prospects for developing it.  Must be asking a hefty price.  The saga continues....

thelakelander

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Re: Kmart Property in Mandarin?
« Reply #5 on: May 01, 2023, 08:01:17 AM »
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

marcuscnelson

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Re: Kmart Property in Mandarin?
« Reply #6 on: May 01, 2023, 08:23:48 AM »
I guess that's something. Little disappointing, seems like a site you could do a lot with.
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Jagsdrew

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Re: Kmart Property in Mandarin?
« Reply #7 on: May 01, 2023, 09:05:58 AM »
Lots of potential but this is probably the most realistic expectation.

Anything with mixed-use or an ounce of creativity would take 10 more years.
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Jax_Developer

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Re: Kmart Property in Mandarin?
« Reply #8 on: May 01, 2023, 09:32:42 AM »
Lots of potential but this is probably the most realistic expectation.

Anything with mixed-use or an ounce of creativity would take 10 more years.

Extremely accurate lol.

Jagsdrew

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Re: Kmart Property in Mandarin?
« Reply #9 on: May 01, 2023, 09:54:27 AM »
Lots of potential but this is probably the most realistic expectation.

Anything with mixed-use or an ounce of creativity would take 10 more years.

Extremely accurate lol.

This could've been a really cool development to establish the area as a focal point, especially with two major roads coming together (San Jose and Old St Augustine). I always pictured something similar to Tapestry Park.
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jaxlongtimer

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Re: Kmart Property in Mandarin?
« Reply #10 on: May 01, 2023, 10:56:13 PM »
Anyone have an update on this?  There is now a construction fence around the entire perimeter (around the Zaxby's) of this property and the adjacent closed 5/3 Bank building.  I assume the bank property has been acquired to increase the development potential of the Kmart property.

Are they demolishing both buildings?  Is a big box store (Home Depot?) a candidate?  Or, another apartment complex?  Last thing Mandarin needs is another strip center.  Lots of vacant storefronts in the existing ones.

As per above, I have long speculated that this site is ripe for Home Depot.  There is no HD within a reasonable range of Mandarin, the closest being a poorly accessible store on Southside Blvd. and not a very big one at that.  Meanwhile, Lowes has two stores serving Mandarin, at Baymeadows & Philips Highway and at I-295 and St. Augustine Road.  That tells you all you need to know about what HD has been missing out on.

Too add, this HD will draw people from the Southbank, San Marco, Miramar, Lakewood and over to Phillips Highway via Baymeadows and Sunbeam Roads.  Plus all the St. Johns County traffic that passes by on the way to and from Downtown.  It may even pull from nearby I-295 given there are no HD's along that route in that quadrant of the City.

Not only is the Kmart the last reasonably available site in Mandarin to host a HD, but it is at the prime junction of San Jose and St. Augustine Road, the major arteries serving the heart of Mandarin.

The only question is why HD waited so long to pursue this spot  ;D.

Houseboat Mike

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Re: Kmart Property in Mandarin?
« Reply #11 on: May 04, 2023, 01:53:59 PM »
Anyone have an update on this?  There is now a construction fence around the entire perimeter (around the Zaxby's) of this property and the adjacent closed 5/3 Bank building.  I assume the bank property has been acquired to increase the development potential of the Kmart property.

Are they demolishing both buildings?  Is a big box store (Home Depot?) a candidate?  Or, another apartment complex?  Last thing Mandarin needs is another strip center.  Lots of vacant storefronts in the existing ones.


The only question is why HD waited so long to pursue this spot  ;D.

Probably because they were burned by the one they were going to open at University and 95. LOL. That one has been in the works since at least 2007 or so, if memory serves me correct.

jaxlongtimer

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Re: Kmart Property in Mandarin?
« Reply #12 on: May 05, 2023, 07:49:20 PM »
Anyone have an update on this?  There is now a construction fence around the entire perimeter (around the Zaxby's) of this property and the adjacent closed 5/3 Bank building.  I assume the bank property has been acquired to increase the development potential of the Kmart property.

Are they demolishing both buildings?  Is a big box store (Home Depot?) a candidate?  Or, another apartment complex?  Last thing Mandarin needs is another strip center.  Lots of vacant storefronts in the existing ones.


The only question is why HD waited so long to pursue this spot  ;D.

Probably because they were burned by the one they were going to open at University and 95. LOL. That one has been in the works since at least 2007 or so, if memory serves me correct.

That has not been "in the works" for years.  I am familiar with the Univ. & I-95 site as it was offered to a group of investors when HD long ago walked away from it.  Per the tax rolls, RaceTrac bought about 25% of it and there is already a gas station there.  The other 75% is now owned by FDOT.

Someone spent millions buying out the hotels/restaurants on that site and I recall HD buying the assembled site for about $10 million.  But, I heard HD didn't do their homework and ultimately realized they couldn't get bi-directional access directly from Univ. Blvd. due to the proximity to the I-95 interchange (and, thus, why FDOT probably also bought the land portion adjoining I-95.  It looks like they may be planning a future southbound on-ramp for Univ. Blvd. instead of having to go to Bowden Rd.).  After HD backed off, the land, at the time, was being offered for far less than HD paid for it.

So, I wouldn't lay that "burn" on the marketplace but rather incompetent real estate actors on behalf of HD.

Houseboat Mike

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Re: Kmart Property in Mandarin?
« Reply #13 on: May 08, 2023, 04:20:43 PM »
Thanks for the clarification on that Jax.

Captain Zissou

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Re: Kmart Property in Mandarin?
« Reply #14 on: May 16, 2023, 12:22:14 PM »
https://www.cnn.com/2023/05/16/business/home-depot-shoppers-pulling-back/index.html

Quote
The retailer posted disappointing sales for its first quarter and lowered its outlook for the year after customers slowed their spending on home improvement projects. Home Depot (HD) said sales fell 4.5% at stores open at least a year during its latest quarter, and its income decreased 6.4% from the same stretch a year ago.

Hopefully they're hitting the brakes on capex due to the reduced outlook.  I get the business case for opening a location here, but I'd really rather see this site become something else.