(For more retail coverage, click GlobeSt.com/RETAIL.)
JACKSONVILLE, FL-The Sembler Co. of St. Petersburg and Plano,TX-based Granite Properties Inc. are joint venturing thedevelopment of Oakleaf Town Center. The planned 858,642-sf,open-air shopping center has broken ground at Argyle ForestBoulevard and Old Middleburg Road, near Brannan Chaffee Road.
A Sembler spokesperson declined to disclose the project'sdevelopment cost. "We don't discuss monetary values," she tellsGlobeSt.com. However, area construction sources familiar withcomparable large-size retail undertakings in Florida tellGlobeSt.com the recent price rise in materials will probably meanthe center will be built for no less than $125 per sf or about atotal $107 million.
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