Miami-dependent developer The Relevant Team bought River Town Brewing Co.’s leasehold for its Downtown Southbank restaurant website for $10 million, CBRE declared Aug. 3. 

CBRE  Senior Vice President Cliff Taylor and Initially Vice President Joe Ayers facilitated the sale concerning Associated and River City mother or father company Maritime Ideas L.C.

River City co-homeowners Anthony Candelino and Eugene Van Observe said July 15 that Maritime planned to near Aug. 2 on its fiscal deal with Relevant. 

The riverfront cafe closed July 18. Similar designs an 8-tale, 327-unit apartment with an attached garage and a free-standing restaurant at the internet site. 

The developer purchased Maritime’s remaining 76 years of a 99-calendar year land lease with the town and assumes possession of the 3.34-acre parcel at 835 Museum Circle.

“To have a developer the caliber of Related in Jacksonville is a testomony to the dynamic development developing in our town,” Taylor explained in a news launch. “This new progress is well-positioned to gain from Jacksonville’s explosion of expansion that has only been heightened in the write-up-COVID age.”

The approximated $99.16 million Southbank growth, named RD River Town Brewery flats, is Related’s first in Jacksonville. 

“With staggering in-migration numbers and strong position progress, the metropolis demands major-tier, good quality development in the city core that will generate a perception of location and drive traffic to place firms,” Taylor explained.

In the release, CBRE praised the Downtown Financial commitment Authority and its CEO Lori Boyer