PRESS

A Newberry-based investor bought about 112 acres in North Jacksonville that is being marketed for residential and commercial development.

C.O.B. Investments L.L.C. paid $6.5 million for the timberland at northwest Interstate 95 and Pecan Park Road.

The site is north of Jacksonville International Airport.

The deal closed Aug. 19 with seller Pecan Park Road Investments LLC of New Smyrna Beach. The sale was recorded Aug. 31 with the Duval County Clerk of Courts.

SVR Commercial of Ponte Vedra Beach said it was hired to sell the residential and commercial acreage separately.

SVR President Jeffrey Terwilliger said Sept. 6 that a national builder has a contract for 95 acres and plans 136 single-family lots. He declined to identify the builder.

He said he and the property owner are reviewing contracts for the 17.81 acres that will be developed for commercial uses. 

State corporate records show Richard Glaser as the managing member of C.O.B. Investments.

The site, at 671 Pecan Park Road, is zoned for residential in the northern section and commercial in the southern part.

The site is near Amazon, Bacardi, UF Health, River City Marketplace and other developments and employers.

SOURCE: Jacksonville Daily Record

Written By: KAREN BRUNE MATHIS