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Lisa Palmer Of Regency Centers Purchases 22 Acres In Jacksonville For $8.47M

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SOLD
$8,470,000

Florida

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Development Site
Sold 09/15/2025
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Property Image
SOLD

Lisa Palmer Of Regency Centers Purchases 22 Acres In Jacksonville For $8.47M

5101 Kernan Boulevard South

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Development Site
Sold 09/15/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

A 22-acre development site located at 5101 Kernan Boulevard in Jacksonville has been sold for $8,470,000. The property, designed for a retail project known as The Village at Seven Pines, encompasses a total of 182,000 square feet, with a price per square foot of $47.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $8,470,000
  • Buyer: Lisa Palmer - Regency Centers
  • Seller: Sawmill Timber LLC
  • Acres: 22
  • BSF: 182,000
  • PPBSF: $47

Lisa Palmer, representing Regency Centers, intends to develop a retail project anchored by Publix on the site. Additionally, Regency Centers will relocate its headquarters to this location, with construction expected to commence in the first quarter of 2026 and retail openings targeted for 2027.

Players

Lisa Palmer
Regency Centers
Lisa Palmer
12 deals$804.6M volume
BUYER

Details

SOLD
IMAGE: Lisa Palmer DATE: 09/15/2025 ADDRESS: 5101 Kernan Boulevard MARKET: Jacksonville ASSET TYPE: Development Site ~ ACRES: 22 BUYER: Lisa Palmer - Regency Centers (@RegencyCenters) SELLER: Sawmill Timber LLC SALE PRICE: $8,470,000 BSF: 182,000 ~ PPBSF: $47 NOTE: Regency Centers bought 22 acres in the Seven Pines community for $8.47M to develop The Village at Seven Pines, a 182,000 SF retail project anchored by Publix. The Jacksonville-based developer will also relocate its headquarters there, with construction set to start in Q1 2026 and retail openings planned for 2027.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$451,733.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,092.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,152.12
Annual Debt Service$481,825.45