Jacksonville-based mostly Hanania Automotive Team proprietor and CEO Jack Hanania has a deal to obtain the former Stein Mart setting up on the Downtown Southbank for $20.6 million.

He intends to transfer his corporate headquarters there and set the Hanania title on the building.

“I have a whole lot of enthusiasm for our Downtown and our neighborhood,” explained Hanania, who grew up in Lakewood and life in San Marco, both neighborhoods in close proximity to the Southbank.

“I think Downtown is poised to explode.”

It also is the very first time in memory that a single individual has bought a higher-rise developing Downtown to put a identify on it.

Hanania claimed July 25 he hopes it encourages other people to do the exact same, declaring such expense implies to outside the house firms that neighborhood buyers are willing to place revenue into the group.

“It will assist stimulate more Downtown initiatives,” he stated.

Hanania and expenditure companion Joe Hassan currently individual two Downtown Northbank buildings – the 6-story historic Dyal-Upchurch Constructing at 6 E. Bay St., ordered in 2017, and the 3-tale Title & Trust Corporation of Florida Creating at 200 E. Forsyth St., acquired late past 12 months.

“I grew up in Jacksonville and I want to do my part to preserve Downtown Jacksonville,” Hanania said when acquiring the Title & Rely on setting up.

Hanania is purchasing the Stein Mart residence on his have and intends to include it. He