Updated Sep 18, 2025
Lisa Palmer Of Regency Centers Purchases 22 Acres In Jacksonville For $8.47M
5101 Kernan Boulevard South
$8,470,000
Building Size
—
Asset Type
Development Site
Closing
Sep 15, 2025
About this deal
AI
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.
On the Map
$8,470,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93