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Jacobs Jewelers Space in Downtown Jacksonville Being Marketed to Tenants February 27, 2023 (0 comments)
Jacksonville, FL--The iconic Greenleaf Building, at the intersection of Northwest Adams and Laura streets in Downtown is about to undergo major changes.
[Image via Wikimedia Commons]
The property owner, JWB Real Estate Capital, has decided to demolish the interior retail space leased by Jacobs Jewelers on the first floor and basement after the store closes its doors by the end of February. The city is reviewing Opus Group's permit application to demolish the 3,326-square-foot space in preparation for the property to be leased to new tenants.
According to a news report, JWB Real Estate Capital, which purchased the 12-story historic building built in 1927 for almost $7 million in June, plans to relocate its headquarters into approximately 36,000 square feet of the building. JWB is located at 7563 Philips Highway, Suite 109, in Deerwood Center. The building is 60% occupied, and JWB President Alex Sifakis expects some tenants to remain while others will leave as their leases expire.
Retail Suite 2, the former jewelry store, is among the spaces available for lease. The report noted that the property is being marketed by Colliers Senior Director Matthew Clark, Olivia Steinemann, and Sam Middlekauff as The Greenleaf. The brochure states that the city offers retail enhancement and store facade grants as part of available city programs.
JWB is planning to request incentives from the city to support the renovation of the Greenleaf Building. Sifakis envisions the space eventually housing a restaurant on the ground floor. The iconic Jacobs Jewelers, which had been in operation since 1867, is in its final days, with owners Roy and Delorise Thomas selling off their inventory in a retirement sale.
Damon Greenleaf founded the jewelry store, located initially along Bay Street, in 1867. The business was sold in 1930 to V.E. Jacobs, who then changed the name. J.H. Crosby joined the company in 1890, and it became Greenleaf & Crosby. The partners constructed the Greenleaf & Crosby Building in 1927 and moved the store to its current location. The Thomases took ownership of the store in 1986 and offered customers 14-carat and 18-carat gold, platinum, diamonds, Omega and Rolex wristwatches, fine gifts, crystal, and china.
Learn more in this report.