Publix is back at it again. This time it purchases the shopping center in Bartram Park; it is the second sale in recent days by Ponte Vedra-based Eastland.
Eastland’s last sale, 40 acres within Bartram Commons, was to a Jacksonville Beach development, Block One Ventures, that plans to build over 1,000 multifamily homes at the site.
Past December Publix purchased two sites in St. Augustine, which will also include an in-retail space for other tenants.
Most notably the purchase at Bartram Park is fully-leased with outparcel tenants like Wawa, Wendy’s, Aspen Dental, Dunkin Donuts, AutoZone and Island Wing Co.
The Bartram Market sale was for $27.1 million, 79,059-square-foot property at the border of St. Johns and Duval counties.
Eastland, the developer of the Bartram Park project, is retaining the 10 commercial outparcels for ground leases.
Eastland, regarding its previous sale, said on Jan. 3 it sold 38.93 acres at Bartram Commons to Block One Ventures for $33 million.
Block One Ventures, an affiliate of Trevato Development Group, announced Dec. 31 it bought the Duval County property Dec. 30. The land is near Interstate 95 and Florida 9B on the north side of Racetrack Road, on Dec. 30.
Block One Ventures plans to develop the property in three projects totaling 1,069 multifamily units.
As a Floridian or someone who travels to Florida one notable store they’ll encounter is Publix. The grocery franchise that is speckled all across Florida and where shopping is a pleasure is a staple of Florida food industry. Recently in St. John’s county, the food giant broke ground for its 48,400-square-foot store on a 8.55 acre lot of land near Beachwalk. The project will not only be concentrating on its grocery store it will also include a 10,500 square feet of additional in-line retail space for other tenants.
Most notably in our line of business, St. Johns County approved permits for interior renovations for two Publix Super Markets stores in St. Augustine. The permits are a $625,000 remodel at 955 Florida 16 and a $575,000 renovation at 84 Tuscan Way.
As you can see commercial projects can differ from location to location and depending on the client or type of industry. Let’s look into what commercial remodels consist of.
What Is a Commercial Remodel?
Commercial remodels are usually done to enhance the business’ look and accessibility for future endeavors – like Publix’s retail space venture.
Stages of a Commercial Remodel?
Just like a new build, a commercial remodel has several stages. In most cases, the following stages are used in a commercial remodel project:
- Planning & Design
- Pricing and bidding (selecting the best contractor)
- Engineering & Permitting
- Structural Repair – Redesign
- Final touches
- Clean up
Companies that undertake remodeling projects will want to hire a contractor that has experience in rebuilds/remodels. The reason is because the framework exists; they would need to know how to alter existing structures and maintain the structures integrity.
The duration of the remodeling project is all determined by how complex the rebuild is and if part of the building will remain during construction. Getting the necessary permits, designs, construction team early will lessen construction time – this will also help with moving current infrastructure (people and furniture) to different areas in the building during build.
Commercial remodeling projects take a structure and reface the look and feel / flow of the building.