MEDIA ROOM

November 22, 2017

Sunday Notebook: Apartment sales, Armada store and Wawa openings

Several Jacksonville apartment complexes have sold for big dollars, Jacksonville Armada is opening its own store store at the Town Center and the first Wawa stores in the area will be opening in a week and a half.

First, a few of the apartment sales.

Blackstone Real Estate Income Trust of New York has paid $140.5 million for three complexes totalling 1,032 units. The properties:

$67.9 million for the 480-unit Cape House Apartments, 4460 Hodges Blvd.They were built in 1998 and last sold for $55,075,000 in 2013.

$36.3 million each for the 276-unit Mirador and Stovall at River City apartments, 131100 Broxton Bay Drive near River City Marketplace. Both were were built in 2014 and last sold for $31 million each in 2014.

Meanwhile, Pollack Shores Real Estate Group, the developer of Brooklyn Riverside, is back in the Jacksonville market. The Atlanta company sold the 310-unit Brooklyn Riverside for $58 million in 2016, a year after it opened.

Now it’s paid just about the same price, $58,775,000, for The Retreat at St. Johns, 12310 Seacrest Lane off Kernan Boulevard. The complex was built in 2007 and is 94.75 percent occupied, the company said.

Pollack Shores plans about $4 million worth of improvements, mostly inside the units, including granite countertops and stainless steel appliances.