Newspaper article The Florida Times Union

Wyndham Riverwalk Is for Sale

Newspaper article The Florida Times Union

Wyndham Riverwalk Is for Sale

Article excerpt

Byline: Roger Bull

The Wyndham Jacksonville Riverwalk is for sale. The 322-room hotel was foreclosed on and then sold in auction last year and is lender owned. The hotel is listed by Colliers International Hotels. Rich Lillis, one of the lead brokers, said Colliers does not use an asking price.

Both the Wyndham license and third-party management agreement can be terminated upon sale.

The 5.81-acre property is on the Southbank and includes 35,000 square feet of banquet and meeting space.

APARTMENTS

More apartments are changing hands.

- Cortland Partners of Atlanta paid $17.4 million for The Reserve at Deerwood, 7632 Southside Blvd. The 271-unit complex was built in 1981 and last sold for $19.5 million in 2005. Last year, Cortland paid $28 million for the 391-unit Avistele at Deerwood and renamed it Aqua Deerwood. It also paid $26.3 million for the Mirador and Stovall at River City apartment complexes on Broxton Bay Drive off Airport Center Drive.

- WRH Realty Services of St. Petersburg paid $19.2 million for Addison Landing, 9455 103rd St. The 289-unit complex was built in 2007. WRH has 16 other complexes in the Jacksonvile area.

TOWN CENTER

Lots of happenings the St. Johns Town Center:

- The Microsoft store should be an impressive one. The city issued a $3.1 million permit for improvements on the 4,975-square-foot space.

- The Athleta store first mentioned two weeks ago is scheduled to open this fall between Urban Outfitters and Michael Kors.

- Building permits have been issued for the new Penzeys Spices ($20,050, 4,200 square feet, D.A. Davison Contracting) and The Great Frame Up ($21,917.20, 1,466 square feet, D.A. Davison Contracting.)

- Construction bids are being sought for a Charlotte Russe women's clothing store planned for the Markets at Town Center.

- Leasing has begun on 5 Thousand Town, one of the two apartment complexes going in at Town Center. First residents are expected to move in next month. Rents range from $1,335 to $2,350.

ETC.

- Hunter Hotel Advisors has opened an office in Jacksonville with Trey Scott, Hunter vice president, heading it. …

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