JWB Real Estate Capital Purchases Greenleaf Building Downtown | Jax Daily Record | Jacksonville Daily Record

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JWB Real Estate Capital has paid nearly $7 million for the Greenleaf Building at 208 N. Laura St. Downtown, Chairman Alex Sifakis said June 17.

Sifakis said JWB Real Estate Capital paid $6.25 million for most of the building and $700,000 for the ninth floor of the 12-story building.

The historic structure, built in 1927, is divided into a few commercial condos. JWB therefore purchased the ninth floor separately from that owner, he said.

Sifakis said JWB will move its headquarters to approximately 36,000 square feet of the 66,000 square foot building, which sits northwest of Laura and Adams streets.

JWB is now at 7563 Philips Highway, Suite 109, Deerwood Center.

Sifakis said JWB would seek incentives from the city during its renovation.

Sifakis said the building is 60% occupied. Some tenants will leave when the leases expire and others will stay.

He is considering a possible restaurant on the ground floor.

The historical marker erected on the building in 2005 shows that it was built as the Greenleaf & Crosby Building, designed by architects Marsh & Saxelbye.

Visit Jacksonville includes the building on its self-guided tour of historic downtown Jacksonville.

It includes the Greenleaf & Crosby building and the historic facade clock built by the Seth Thomas Clock Company over 100 years ago.

It says the Greenleaf & Crosby Company had one of Jacksonville’s oldest and finest jewelry stores, dating back to its first location on Bay Street in 1880.

The 15-foot clock originally stood at the Bay Street store and moved to the site of the new store in 1927.

JWB has been investing in downtown for several years and on February 24 purchased 119 and 129 W. Adams St. for $1.2 million. The vacant building previously housed Breezy Jazz Club and Scottie convenience store locations. They are on the same block as The Greenleaf.

Breezy moved to San Marco in late 2020 and the Scottie store closed prior to the acquisition.

Sifakis said the buildings will be renovated into offices, restaurant, retail and rooftop bar and lounge space.

“Downtown is a convenience,” Sifakis said.

“We really think this is turning a corner. People will want to work in this 24/7 neighborhood.

Sifaksi said the investment and renovations show JWB’s intentions.

“It’s about recruitment and retention and another way of showing our commitment.”

The leasing representatives for the Colliers real estate company are senior manager Matthew Clark and partners Olivia Steinemann and Sam Middlekauff.

JWB Real Estate Capital has been investing downtown since 2020.

Sifakis led JWB’s focus on adaptive reuse in the downtown north core and building plans at LaVilla.

The company is restoring historic Federal Reserve and Florida Baptist Convention buildings on Church and Hogan streets to apartments, restaurants and retail.

In 2020, JWB purchased the Seminole Building, anchored by Sweet Pete’s, at 400 N. Hogan St.

JWB is rehabilitating the Porter House Mansion at 501 N. Julia St. into office and restaurant space with a proposed multi-family addition.

The company purchased a warehouse at 331 W. Ashley St. and a parking lot at First Baptist Church in Jacksonville.

In LaVilla, JWB is developing an $18 million, 91-unit townhouse project for sale with a proposed second phase of 10,000 square feet of ground floor retail space.

He purchased a vacant 1.37 acre lot at Jefferson, Forsyth, Houston and Broad streets for future development.

JWB also invests in Arlington, which is across the Mathews Bridge from downtown.

He said on March 4 that development costs for the first phase of his rehabilitation of the former Town & County mall in College Park were $18.5 million.

The company will finance the project with municipal incentives, loans and cash.

Sifakis considers College Park the gateway to Arlington, a neighborhood where JWB has built and rehabilitated about 500 homes.

Sifakis formed JWB in 2006 with his high school friend and roommate, CEO Gregg Cohen, to transform single-family homes.

It has grown to purchase 996 properties in 2021 and has diversified into developing and managing single-family, multi-family and commercial properties.

Sifakis co-owns JWB with Cohen, chief financial officer Adam Rigel and chief operating officer Adam Eiseman.

Its primary business is the management and development of single family homes in Duval, Clay, Nassau and St. Johns counties.

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