Commercial Real Estate, Capital, Insurance, Leasing & Management

St. Johns Town Center preparing expansion with theater, hotel and more

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Jacksonville's St. Johns Town Center is preparing for a fourth phase at the Southside shopping center that includes a theater, hotel and additional retail space.

Excerpted from Jax Daily Record story.

The St. Johns Town Center regional “main street” and lifestyle center has grown to 1.4 million square feet of retail and restaurant space.  News releases show it features 11 anchor stores and more than 175 brand-name specialty stores, along with the park green and a courtyard.

The center was developed on Skinner family land and owned 50-50 by Atlanta-based Ben Carter Properties and Simon Property Group of Indianapolis.

The Carter group sold its 50 percent ownership in June 2014 to Deutsche Asset & Wealth Management’s Real Estate Investment Group for a reported $375 million. 

Carrie Smith, managing director of the Franklin Street real estate company, said the potential expansion reflects the health of the trade area around St. Johns Town Center.

“Simon knows what kind of volume their current client base is doing at Town Center. It continues to speak about kind of strength the St. Johns Town Center has in our market,” she said.

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