Commercial real estate headlines in Jacksonville include some significant happenings in the beaches area. Firstly, the sale of One Ocean Resort & Spa. Secondly, a multi-million dollar building permit for Mayo Clinic.
One Ocean Resort & Spa
The premier One Ocean Resort & Spa in Atlantic Beach sold on June 27th for $48.62 million.
The prominent beach hotel will be transformed by its new owners. Indeed there are multiple new owners. The sale was a joint venture among Aspect Real Estate Group, Sage Hospitality Group, Corner Lot, and Kelco Management & Development. Furthermore, these investors plan to begin renovations in 2025.
One of the investors in this project, Andy Allen, was quoted in the Jacksonville Daily Record. The quote reads: “This project will honor the history of the community while creating a destination hotel experience.” Andy Allen is CEO of Corner Lot, a Jacksonville-based real estate development firm.
Notably, One Ocean isn’t the only oceanfront hotel undergoing renovation in the Atlantic Beach area. In fact, we wrote about the sale of Seahorse Oceanfront Inn, Lemon Bar in a past post. The new owner, Shad Khan, is also owner of the Jacksonville Jaguars. He plans to renovate his beach hotel as well.
We will be seeing a lot of changes in the Beaches Town Center area in coming years.
Mayo Clinic
In other Jacksonville commercial real estate news, $87.58 million dollars in permits have been approved this summer.
According to the Jacksonville Business Journal, “Removing 712 permits for single-family homes, townhouses, duplexes, mobile homes and condominiums leaves 106 permits totaling $48.15 million.”
Significantly, Mayo Clinic’s integrated oncology building is included among these permits. The $12 million permit was received by The Robins & Morton Group on behalf of the hospital.
Together with previous permits, this new permit allows continuation of the $233 million radiology build out. Remarkably, this will include proton beam and carbon ion therapy services. Ultimately, calendars are marked for the third quarter of 2025 to complete the project.
Fluid Realty
The Fluid Realty Team is Jacksonville’s top real estate group and local boutique brokerage. We provide a full-service experience with the best realtors in the area. Our expertise includes luxury beach real estate within the four Beaches of Jacksonville, FL: Atlantic Beach, Neptune Beach, Jacksonville Beach, and Ponte Vedra Beach.
