News Summary
The real estate market in Northeast Florida is witnessing substantial growth, evidenced by increased transactions across residential and commercial properties. Key developments have taken place in St. Johns and Jacksonville counties, with notable acquisitions such as the World Golf Village Renaissance Resort and various commercial properties. This surge indicates economic vitality and ongoing investor confidence, along with diversified growth opportunities throughout the region.
Real Estate Market Sees Significant Growth in Northeast Florida
The real estate market across Northeast Florida is experiencing a notable increase in transactions, reflecting changing market dynamics and ongoing development in the region. From residential communities to commercial properties, this surge highlights continued economic activity and growth potential in areas such as St. Johns and Jacksonville counties.
Major Property Transactions in St. Johns County
In St. Johns County, several high-profile property deals have taken place, demonstrating strong investor confidence. One significant transaction involved the World Golf Village Renaissance St. Augustine Resort, located at 500 S. Legacy Trail. The property encompasses approximately 1.61 acres with a substantial building footprint of nearly 290,000 square feet. The buyer, St. Augustine Lodging Associates LLC, acquired this resort from Atrium Finance IV.
Another key deal in the area was the sale of rental weeks at the Resort at World Golf Village, situated at 100 Front Nine Drive. The property was sold to Vacation Trust Inc., with the previous owner, Bluegreen Vacations Unlimited Inc..
Jacksonville County Leads in Commercial and Residential Activity
Jacksonville continues to be a hotspot for property transactions. In Duval County, a notable acquisition was for the Candlewood Suites hotel located at 2073 Mayport Road. The property, sitting on a little over one acre (1.13 acres), includes a building of about 31,700 square feet. The transaction involved Butler Lodging LLC purchasing from Mayport Lodging 2 Inc..
In the commercial sector, multiple properties were bought and sold, including a collection of occupied and undeveloped parcels in downtown Jacksonville. Notably, a package of properties at 211, 241, and 225 W. Ashley Street, along with 604 N. Hogan Street and West Beaver Street, totaling roughly 1.16 acres, changed hands from EJPC LLC to North Core 904 LLC.
Other significant deals involved planned residential developments and educational facilities. For example, Mattamy Jacksonville LLC purchased 3.8 acres of land on Glen Kernan Parkway from Hodges Properties I LLC, indicating ongoing residential expansion projects.
Educational infrastructure also saw expansion, with the acquisition of a 52,346-square-foot school on 1824 and 1866 Dean Road. The Islamic Center of Northeast Florida Inc. bought the property from Akam Soranny LLC for an undisclosed amount, following its previous sale in 2024 for approximately $2.7 million.
Commercial real estate transactions also included properties on W. Ashley Street, where a 0.48-acre parcel was purchased by North Core 904 LLC from AWP331 LLC. Additionally, office space at 2443 St. Johns Bluff Road S. changed ownership, with Big Swole Holdings LLC acquiring a 6,000-square-foot building previously sold for $525,000 in 2005.
In the industrial and warehouse segment, Knox Property Group LLC bought a 7,167-square-foot warehouse at 146 Levy Road, Atlantic Beach. This property was last sold in 1999 for $225,000.
Residential development remains active, with construction on six residential lots in the SEQ Residential Phase 2A area at Stillwood Pine Boulevard. The lots were purchased by Jax Construction Holdings LLC from CND-ICI SEQ LLC.
Implications of the Market Trends
The increase in property transactions across Northeast Florida indicates a vibrant and resilient real estate market. The diversity of deals—ranging from hospitality and commercial to residential and educational facilities—suggests ongoing investor confidence and regional growth. These transactions are also reflective of broader economic trends, including increased tourism, urban development, and infrastructure investment.
Experts forecast continued activity in the coming months, as buyers and developers capitalize on favorable market conditions. This growth is expected to support local economies, create jobs, and foster further development in key communities throughout the region.
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Additional Resources
- Realtor.com: 2024 HGTV Dream Home in St. Augustine
- St. Augustine Record: HGTV Dream Home for Sale
- Jacksonville.com: Tom Petty’s Beach House for Sale
- PR Newswire: New St. Augustine Community Development
- Business Insider: Florida Home Price Trends
- Wikipedia: St. Augustine, Florida
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