The Wideman Company acquired Citigroup’s Jacksonville campus for $24 million. The campus consists of four interconnected buildings at 14000 Citicards Way. Citigroup will continue occupying 230,000 square feet of the office space, and the other 260,000 square feet are being offered to new tenants.

The property last sold in 2003 for $14.44 million. It recently underwent $12.9 million in renovations.

BayBridge Real Estate Capital arranged the financing from an independent, employee-owned financial services firm in Chicago, for the property purchase from Citigroup.

Three of the four buildings in the Butler/Baymeadows submarket total 491,386 square feet for offices, and the fourth is a dedicated amenity center with a made-to-order food hall, outdoor dining and a large conference facility. The campus also includes a separate, 40,000-square-foot building and 2,652 parking spaces.

Chuck Diebel at Colliers International is handling the leasing for the property.

Jacksonville University and Lake Erie College of Osteopathic Medicine (LECOM) are joining up to build a $50 million medical school. The Jacksonville Business Journal reports the school, which will go up at 3412 N. University Blvd will be called LECOM Jacksonville at Dolphin Reef and will be what is described as a medical building with classrooms. It will be 50,000 square feet and is expected to accommodate 75 students when it opens in 2026, eventually housing 150

LECOM is the nation’s largest osteopathic academic health system.

The medical school will be built adjacent to the Health Sciences Complex, creating what JU is calling the Jacksonville University Medical Mall, an expanding mixed-use health care plaza established at the north end of the university’s Arlington.

The medical school will increase JU’s downtown presence for higher learning, joining the school’s law school.

Noble Investment Group purchased two acres off Interstate 295 for $2 million in order to develop a four-story, 13,550-square-foot StudioRes by Marriott, an extended-stay hotel with 124 rooms. It bought the land from Harmony Farms of Jacksonville.

The new Marriott is planned for Collins Town Center with an address listed as 8045 Parramore Road. The job is expected to cost $9.9 million.

The Jacksonville Business Journal reports Noble Investment Group is a real estate investment manager that specializes in the travel and hospitality sector. It purchased the Courtyard Jacksonville Beach Oceanfront for $26.1 million in July. McKibbon Hospitality of Tampa will manage the beachfront hotel and currently manages 32 hotels for the owner.

The hospitality group expects to develop 50 StudioRes properties across several submarkets in major U.S. cities. Marriott says the StudioRes prototype is the company’s most affordable cost-per-key product to develop and build.

BGFP International, a strategic partnership between BG Capital, Saoud Development, and FreezPak Logistics, has secured $72 million in funding from Valley National Bank, the Israel Discount Bank of New York (IDB), and Nuveen Green Capital to develop a 275,000-square-foot cold storage facility in Jacksonville. Construction is underway and expected to be completed in November 2024.

The debt execution was originated by Tyler Huffman and Joseph Byrne of BG Capital, which consists of Valley National Bank and IDB contributing as the senior lenders and Nuveen Green Capital providing Commercial Property-Assessed Clean Energy financing (CPACE).

The facility, to be leased exclusively by FreezPak Logistics, spans over 20 acres and will offer 53,000 new pallet positions, 212,000 square feet of freezer space and a 41,000-square-foot cooler dock. Users will have access to blast freezing, cross-docking, transportation, repacking, overseas container plug-ins, and USDA inspections. The facility will also include 34 loading docks, 132 trailer parking stalls, 90 container plug-ins, and 67’ clear-height ceilings.

The Jacksonville facility will be BGFP International’s third built-to-suit location within its national expansion program.

Woodside Capital Partners paid $19.2 million for the Greystone at Town Center, a five-building, 212,240 square foot single-story suburban office park located at 10550 Deerwood Park Blvd. in Jacksonville, Florida. 

Jacksonville brokers Karl Johnston, Senior Director of Cushman & Wakefield’s Capital Markets Group, along with Traci Jenks, Senior Director of Cushman & Wakefield’s Office Brokerage Services Group, represented the seller in the transaction, Taurus Investment Holdings.

“This office park was developed in 1999 and is currently leased to multiple high-quality companies. It offers a quality suburban and central access location of choice and should perform well into the future for Woodside Capital Partners,” said Johnston.

Woodside Capital Partners, has been actively investing in office assets throughout the U.S. At the beginning of 2024, the firm entered the state of Arizona, paying $9.3 million for Talavi Corporate Center, a 153,332-square-foot office and medical office property in Glendale. The company now operates a portfolio of 35 office properties totaling more than 3.7 million square feet.

A new Marriott concept hotel called StudioRes is slated for Jacksonville along Parramore Road south of Interstate 295. Marriott says StudioRes focuses on the short-term rental market for stays exceeding 20 days. Features include fully furnished studios with queen beds and a kitchen.

The public spaces include a communal table, fitness room, guest-paid laundry, covered patio and vending area. There is no breakfast buffet. Noble Investment Group is the developer. VHB Engineering is the civil engineer.

The first StudioRes is expected to open in Ft. Myers next year. StudioRes is said to be “a new-build, midscale extended stay development platform for owners & franchisees in the US and Canada.” Marriott says StudioRes will allow owners to capitalize on increased consumer demand for longer stay options at an affordable price while taking advantage of a turnkey prototype. The company is planning for 300 nationwide.

It’s nowhere near the size of a standard community hospital. Nutex Health is moving forward on a 28,000-square-foot hospital with many attributes of a larger hospital. The facility will provide services that include eight inpatient beds, eight treatment rooms, one full operating suite, two pre/post-operative recovery rooms, a fully equipped emergency department, and a range of imaging modalities such as MRI, CT Scan, and X-ray. The location will also offer behavioral services, including drug and alcohol detox services.

The company expects to spend $21 million on the project. Groundbreaking is slated for this summer, and completion is expected in Q3 2025.

The hospital will be situated at the intersection of Beach Boulevard and Kernan Boulevard South in Jacksonville.

NutexHealth’s hospital division owns and operates 20 facilities in eight states. In Florida, it will open ER & Hospital facilities in Gainesville, Jacksonville, Miami and Odessa.

Home Depot intends to demolish a former Jacksonville K-Mart that had been there, empty, since 2016 and build a 133,123-square-foot home improvement center that includes a 25,225-square-foot garden center on the 11.5-acre site at 9600 San Jose Blvd. The application explains the closed 105,737-square-foot K-mart would be demolished.

There also is site and parking lot work, including an 8,575-square-foot outdoor seasonal sales area outside the garden center.

Sun-Ray Cinema thought about expanding with a five-screen theater at the site but the 2020 pandemic shut down those plans.

The Mayo Clinic is building out its $432 million Phase 3 tower expansion, adding five stories with 250,000 square feet of space to be added.

The Robins & Morton Group will construct a shell building for the tower expansion above the existing eight-story building. The project, which anticipates adding 121 beds, is expected to be completed in 2026.

The Jacksonville Business Journal reports the Mayo Clinic has had a busy 2023, with several projects getting the go-ahead. The hospital broke ground on its 252-room Hilton Hotel in June and acquired a $49.5 million permit to start construction in August. It earned a $74.2 permit for its integrated oncology building.

Earlier in the year, the hospital also received Jacksonville City Council approval to add 210 acres to the 4500 San Pablo Road Campus.

In September, Mayo Clinic opened its downtown office at the Ed Ball building.

A development group, Gateway Jax, has been assembling downtown parcels to ensure it has the critical mass to get going on a project that looks to add a thousand apartment units and an abundance of retail space.

The Jacksonville Business Journal reports Gateway Jax is made up of a group of experienced investors. DLB Capital and JWB Real Estate will be helming the project, in the North Core, which the developers believe could be valued at $2 billion over the next ten years.

Work on the first phase of the project could begin in mid-2024, transforming a four-block area on the edge of downtown.

That phase will consist of five buildings centered on Pearl Street, with the project stretching between Union and Church Streets, near Florida State College at Jacksonville’s downtown campus.

The rest of the project would extend throughout the urban core, with Gateway saying it owns almost two dozen acres of properties in North Core, the center of downtown LaVilla and Cathedral Hill.