Jacksonville Business Journal Report

Mike Mozart / Flikr / Use under Creative Commons

A major retailer is shutting down one of its handful of locations on the First Coast.


Jeff Wright / Flickr Creative Commons

A favorite local restaurant has solidified its plans to expand to the heart of Downtown.

A local company called SweetWater Restoration is busily turning two cargo containers into a restaurant. Come summer, Riverside eatery Black Sheep will open a kiosk in the containers in Hemming Park. 

shoppers in Fresh Market produce section
The Fresh Market

Jacksonville’s favorite supermarket could be facing some new competition.

Publix could have a fight on its hands after a private equity fund announced it is buying The Fresh Market. That grocery chain has 40 stores in Florida, including four in Jacksonville.

The fund making the acquisition, called Apollo Management Group, plans on making Fresh Market more competitive by lowering prices. That could put it on a collision course with Publix.

Fidelity logo
SEC

A Jacksonville community bank is no more after the closing of a merger with an Atlanta Bank.

American Enterprise Bank of Florida has been subsumed into Atlanta-based Fidelity Southern Corp., the conclusion of a $27 million deal.

Fidelity Southern has been focusing on expanding in Florida for a while, making other Sunshine State acquisitions in 2014 and 2015.

With the American Enterprise deal, Fidelity Southern picked up about $177 million in deposits.

woman takes out trash
Advanced Disposal Services

A Jacksonville-area waste disposal company is looking to go public.

Advanced Disposal Services Inc. of Ponte Vedra has filed paperwork with the Securities and Exchange Commission to launch an initial public offering.

The company expects its shares to go for around $21 each, which would raise about $163 million. That money would be used to pay off outstanding debt.

Advanced Disposal said it would trade on the New York Stock Exchange under the symbol ADSW. 

Bank of America Tower
Hertz Investment Group

The legal marketplace in Jacksonville is about to get a little bit more crowded.

A Birmingham, Alabama-based law firm with offices in five states in the Southeast said Monday it has opened a Jacksonville office.


Jacksonville location exterior
Google Maps

After years of struggle, a Jacksonville entertainment venue has shut its doors.

Restaurant and entertainment center Latitude 360 shut down its operations in Jacksonville and Indianapolis this week. 

The Jacksonville location was off Philips Highway across from the Avenues Mall. The closure comes after the landlord sued the company, saying it owed almost $6 million in past rent and other charges.

exterior
Google Maps

An Ormond Beach investor has bought a strip mall and office building on Beach Boulevard in a multi-million dollar deal.

The Millennium Business Center went for $4.7 million in a deal that closed Monday.

The center is about a half-mile east of I-295, with Kernan Boulevard two miles to the west. It’s fully leased, according to Prime Realty, the broker on the deal. Its main tenants are MCCI Medical Group and Mattress One.

The sale comes as more investors are looking for space east of I-295, which has seen growth in the residential market.

One of Jacksonville’s most storied luxury car dealerships will soon have a new owner.

Brumos Automotive is selling its Mercedes-Benz, Lexus and Porsche dealerships to Fields Auto Group, the company said.

Fields is based in Illinois and has dealerships in several states. Locally, it has the Land Rover and Jaguar dealerships in Jacksonville and Cadillac dealerships in Orange Park and St. Augustine.

The two companies have been in talks for several months.

The transaction, whose terms were not disclosed, is expected to be finalized in mid-February.

Embraer

The Lebanese Air Force is buying six aircraft that will be built right here in Jacksonville.

 


CBRE

The space housing an iconic Jacksonville Beach art gallery is hitting the market.

The owner of the J. Johnson Gallery in Jacksonville Beach is moving on to other pursuits — and that means the 19,000 square foot spot is up for sale.

The building on 4th Avenue North is being offered for $6.2 million, which is about $325 per square foot.

CBRE, which is handling the list, said the property has a 2,000 square foot balcony, skylight windows and full-service kitchen. The property adjacent to the gallery is also part of the sale.

Crane Ramen / Facebook

If you’re a fan of ramen restaurants, you’ll soon have a reason to rejoice.

A popular Gainesville ramen eatery is eying Jacksonville for its second location.

Crane Ramen opened in Gainesville location in December. It’s now looking to expand to the Riverside or Avondale area.

A Jacksonville furniture store owner accused of faking his death plans to plead guilty to federal charges.

Jose Lantigua owned the Circle K furniture store chain in Jacksonville. In 2013, he vanished in Venezuela and was declared dead.

Maersk Line / JAXPORT

The state may be providing more than $86 million for deepening the St. Johns River, but plenty of questions still remain.

The state’s five-year work plan includes the $86 million, including $10 million in the 2016 fiscal year. That figure would have to be approved by the state Legislature when it next meets.

Healogics / LinkedIn

A Jacksonville-based company is being accused in a lawsuit of scheming to defraud Medicare.

The company, called Healogics, has been accused in a federal lawsuit of performing unnecessary treatments and then billing Medicare for them. The suit is being brought by two former employees under whistleblower laws.

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