JWB Real Estate Capital Buys The Greenleaf Building Downtown | Jax Daily Record | Jacksonville daily record

JWB Real Estate Capital paid nearly $7 million for the Greenleaf Building at 208 N. Laura St. Downtown, President Alex Sifakis said June 17.

Sifakis said JWB Real Estate Capital paid $6.25 million for most of the building and $700,000 for the ninth floor of the 12-story building.

The historic building, built in 1927, is divided into some commercial apartments, so JWB bought the ninth floor separately from that owner, he said.

Sifakis said JWB will be moving its headquarters to approximately 36,000 square feet of the 66,000-square-foot building located on Northwest Laura and Adams streets.

JWB is now located at 7563 Philips Highway, Suite 109 in the Deerwood Center.

Sifakis said JWB will seek incentives from the city for the renovation.

Sifakis said the building was 60% occupied. Some tenants will move out after the lease expires, others will stay.

He envisions a future restaurant on the ground floor.

The historical marker placed on the building in 2005 shows that it was constructed as the Greenleaf & Crosby Building designed by architects Marsh & Saxelbye.

Visit Jacksonville includes the building on its Downtown Jacksonville Historic Building self-guided tour.

It includes the Greenleaf & Crosby Building and the historic clock in front of it, built by the Seth Thomas Clock Company more than 100 years ago.

It is said that the Greenleaf & Crosby Company owned one of Jacksonville’s earliest and best jewelry stores, dating back to its first location on Bay Street in 1880.

The 15 foot clock was originally located in the Bay Street store and was moved to the location of the new store in 1927.

JWB has been an investor in Downtown for several years and on February 24 bought 119 and 129 W. Adams St. for $1.2 million. The vacant building previously housed the locations of the Breezy Jazz Club and the Scottie convenience store. They are on the same block as The Greenleaf.

Breezy moved to San Marco in late 2020 and the Scottie store closed prior to the acquisition.

Sifakis said the buildings would be converted into offices, restaurants, retail and rooftop bars and lounges.

“Downtown is a convenience,” Sifakis said.

“We really think it’s going to be around a corner. People will want to work in this 24/7 neighborhood.”

Sifaksi said the investments and renovations show JWB’s intentions.

“It’s all about recruitment and retention and another way to show our commitment.”

Leasing representatives at real estate company Colliers are senior director Matthew Clark and associates Olivia Steinemann and Sam Middlekauff.

JWB Real Estate Capital has been investing in Downtown since 2020.

Sifakis has led JWB’s focus on adaptive reuse in North Core Downtown and the blueprints in LaVilla.

The company is restoring historic Federal Reserve and Florida Baptist Convention buildings on Church Street and Hogan Street into apartments, restaurants and retail outlets.

In 2020, JWB purchased Sweet Pete’s anchored Seminole Building at 400 N. Hogan St.

JWB is converting the Porter House Mansion at 501 N. Julia St. into office and restaurant space with a planned multi-family extension.

The company purchased a warehouse at 331 W. Ashley St. and a parking garage from the First Baptist Church of Jacksonville.

At LaVilla, JWB is developing a 91-unit, $18 million townhouse project for sale with a proposed second phase of 10,000 square feet of retail space on the ground floor.

It purchased a 1.37-acre vacant lot at Jefferson, Forsyth, Houston, and Broad streets to hold for future development.

JWB is also investing in Arlington, which is across the Mathews Bridge from downtown.

He said the development costs for the first phase of the rehabilitation of College Park’s former Town & County shopping mall as of March 4 are $18.5 million.

The company will fund the project with city incentives, loans and cash.

Sifakis views College Park as the gateway to Arlington, a neighborhood where JWB has built and renovated approximately 500 homes.

Sifakis founded JWB in 2006 with his high school friend and college roommate, CEO Gregg Cohen, to remodel single family homes.

It has grown to purchase 996 properties in 2021 and has diversified into single family, multi-family and commercial property development and management.

Sifakis co-owns JWB with Cohen, CFO Adam Rigel and COO Adam Eiseman.

Its core business is the management and development of single family homes in Duval, Clay, Nassau and St. Johns counties.

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