05:10 AM EST Share Developer Scott Gendell, who recently bought the Monument Landing shopping center in Arlington, credits the Jaguars owner for his move into the Jacksonville market.
Score at least one Jacksonville shopping center investment for Jacksonville Jaguars owner Shad Khan.
Developer Scott Gendell, who recently bought the Monument Landing shopping center in Arlington, is a graduate of the University of Illinois Urbana-Champaign.
As such, he is familiar with one of what he calls its most revered alumni.
Jacksonville Jaguars owner Shad Khan.
“One of the reasons we chose to invest in Jacksonville is if it’s good enough for Shad Khan, it is good enough for me,” Gendell said April 6.
Terraco, based in Wilmette, near Chicago, bought the property March 19 through BGP Orland Park L.L.C.
The Josephs Group of Orangeburg, New York, sold the center through Monument Landing LLC. It bought the shopping center June 26, 2017, for $12.2 million.
The property is assessed at $8.5 million for tax purposes, according to the Duval County Property Appraiser.
The 66,780-square-foot retail center is on 8.85 acres at 2485 Monument Road. Major tenants include Walgreens, Bailey’s Health & Fitness, UF Health Family Medicine and Dollar Tree.
The shopping center is at McCormick and Monument roads. (Google)
The center was developed in 1988 and Walgreens was built in 2008. Site brochures also list its address as 12002 McCormick Road.