{"id":1004214711,"date":"2018-03-28T08:16:26","date_gmt":"2018-03-28T16:16:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004214711"},"modified":"2022-12-08T19:18:57","modified_gmt":"2022-12-09T03:18:57","slug":"north-fl-retail-development-lands-80m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/","title":{"rendered":"North FL Retail Development Lands $80M Loan"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004214717\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004214717\" data-attachment-id=\"1004214717\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/the-pavilion-at-durbin-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jason Shapiro&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1522064081&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Pavilion at Durbin Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Pavilion at Durbin Park&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg?w=800\" class=\"wp-image-1004214717 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004214717\" class=\"wp-caption-text\">The Pavilion at Durbin Park<\/p><\/div>\n<p>The Pavilion at Durbin Park, a retail development on track to become the largest shopping center in Northeast Florida, has landed $80.5 million in construction financing. City National Bank of Florida provided the three-year construction loan, which has a variable interest rate. The owner, a joint venture between Gatlin Development Co. and Gate Petroleum, is building the 80-acre property near Jacksonville, Fla., and the first retailer\u2014WalMart\u2014plans to opens its doors in November 2018.<\/p>\n<h2>Just the start<\/h2>\n<p>Located at the southwest corner of Interstate 95 and Race Track Road, the development site is positioned about 20 miles south of central Jacksonville. The first phase is expected to be fully complete by the summer of 2019 and will total 600,000 square feet, anchored by both WalMart and The Home Depot. The long-term plans for Durban Park call for a total of 2.4 million square feet of retail, 2.8 million square feet of office, 999 housing units and a 350-guestroom hotel, according to <em>The St. Augustine Record<\/em>.<\/p>\n<p>Aztec Group\u2019s Jason Shapiro and Sean Harrington worked on behalf of Gatlin to secure the financing.<\/p>\n<p><em>\u201cThe Pavilion is a much-needed and overdue addition to the <a href=\"https:\/\/www.commercialsearch.com\/news\/jacksonville-powers-through\/\">northern St. Johns submarket<\/a>, as the area is experiencing a surging residential population that has grown by 19 percent in five years \u2026 and continues to add new rooftops year over year,\u201d<\/em> said Shapiro, managing director of Aztec Group, in a prepared statement. <em>\u201cHighly desirable market fundamentals, including low per capita retail square footage in the trade area, combined with the credit strength of The Pavilion\u2019s investment-grade anchor tenants were all instrumental in helping us secure favorable financing terms for the borrower.\u201d<\/em><\/p>\n<p><em>Image courtesy of Aztec Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 80-acre shopping center in the Jacksonville area is already underway, with the first phase wrapping up later this year.<\/p>\n","protected":false},"author":861,"featured_media":1004214717,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,1591,21742,21749],"tags":[34272,33195,39564,32917],"class_list":["post-1004214711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-jacksonville","category-latest","category-retail","tag-aztec-group-inc","tag-city-national-bank","tag-jason-shapiro","tag-walmart"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>North FL Retail Development Lands $80M Loan - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North FL Retail Development Lands $80M Loan\" \/>\n<meta property=\"og:description\" content=\"The 80-acre shopping center in the Jacksonville area is already underway, with the first phase wrapping up later this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-28T16:16:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:18:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/\",\"name\":\"North FL Retail Development Lands $80M Loan - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg\",\"datePublished\":\"2018-03-28T16:16:26+00:00\",\"dateModified\":\"2022-12-09T03:18:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg\",\"width\":800,\"height\":620,\"caption\":\"The Pavilion at Durbin Park\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"North FL Retail Development Lands $80M Loan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"North FL Retail Development Lands $80M Loan - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/","og_locale":"en_US","og_type":"article","og_title":"North FL Retail Development Lands $80M Loan","og_description":"The 80-acre shopping center in the Jacksonville area is already underway, with the first phase wrapping up later this year.","og_url":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-03-28T16:16:26+00:00","article_modified_time":"2022-12-09T03:18:57+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg","type":"image\/jpeg"}],"author":"Jeff Hamann","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/","url":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/","name":"North FL Retail Development Lands $80M Loan - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg","datePublished":"2018-03-28T16:16:26+00:00","dateModified":"2022-12-09T03:18:57+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg","width":800,"height":620,"caption":"The Pavilion at Durbin Park"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/north-fl-retail-development-lands-80m-loan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"North FL Retail Development Lands $80M Loan"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4","name":"Jeff Hamann","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","caption":"Jeff Hamann"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/The-Pavilion-at-Durbin-Park.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004214711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/861"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004214711"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004214711\/revisions"}],"predecessor-version":[{"id":1004214738,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004214711\/revisions\/1004214738"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004214717"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004214711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004214711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004214711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}