JACKSONVILLE, Fla., February 24th, 2020 – NAI Hallmark, a leading commercial real estate and property management firm in Jacksonville officially announces the sale of the former westside Kmart located at 4645 Blanding Boulevard, Jacksonville, Florida 32210 (the “Property”). Representing the seller was Vice President Austin Kay of NAI Hallmark. The buyer was Blanding Self Storage LLC who purchased the 107,000 SF building for $4,800,000.
Upon completion of the sale, Kay and Senior Associate Eric Yi of NAI Hallmark, represented Blanding Self Storage LLC in leasing the Property and the adjacent parcel to a Fortune 500 E-Commerce Company for redevelopment as a last-mile delivery center. The properties included in the lease are 4567 Blanding Boulevard and 4645 Blanding Boulevard for a total of 11.36 acres. The rezoning application was approved by the city in February.
“This reuse of vacant big box space is a great example of the evolution of the retail industry,” said Kay. “It is very rewarding to me personally to see this deal through as I used to shop at this Kmart during my childhood. I think this Fortune 500 E-Commerce Company will be a great addition to the neighborhood, increasing jobs and totally revitalizing the property.”