Robert Selton and Wade Powers of Colliers International Northeast Florida recently represented the Jacksonville Transportation Authority (JTA) in the $2.4 million sale of a 9.11-acre property located at 3011 Marbon Road to First Coast Energy LLP. The sale closed on June 14, 2018.

JTA will continue operating the Park-n-Ride lot that is currently located on the property, though the 175-space lot will be reduced and incorporated into the future development, which will include a Daily’s convenience store, a Shell gas station and a car wash.

“Jacksonville’s Mandarin submarket has strong residential and commercial traffic, making it an ideal place for JTA to continue its Park-n-Ride service and for First Coast Energy to expand the Daily’s brand,” said Powers. “This transaction was challenging due to rezoning requirements to accommodate mixed-use development plans, but because both sides were willing to work together, the highest and best use for the property was achieved.”

JTA has sold several land parcels in recent years as part of a strategic effort to reduce surplus properties and encourage transit-oriented development.