Business and Tax Lawyer Blog

In a brief statement released by Winn-Dixie Stores, Inc., it confirmed having filed suit against Dolgencorp, the parent company of the Dollar General discount retail chain. Winn-Dixie alleges that Dollar General is willfully violating non-compete provisions built in to all of its commercial leases where a Winn-Dixie is located within a shopping center in which it is the anchor tenant. The non-compete provides Winn-Dixie the exclusive right to sell groceries within said shopping centers. The Jacksonville based grocer claims that Dollar General has been selling produce out of its stores that share commercial space with Winn-Dixie. Dollar General provided a response via email wherein it stated plans to vigorously defend these allegations.

To read more on this article, visit Winn-Dixie Sues Dollar General.

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In a press release issued today, Friday, May 20, 2011, a spokesperson for Wachovia/Wells Fargo announced that the building formerly known as "The Modis Building" will be renamed "The Wells Fargo Center".
The bank stated that the rebranding effort should be completed by the end of summer, and will encompass 6 floors (over 120,000 square feet) of the building. The bank has committed to a long-term lease, the details of which are undisclosed, and will not displace any of the building's current tenants.

To read more on this article, visit Modis Building will be Wells Fargo Center.

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Jacksonville’s industrial and retail commercial real estate market saw some positive growth during the first quarter of 2011.

Industrial space had a positive absorption increase of over 100,000 square feet. A positive absorption rate indicates that more space was either leased or bought than was vacated. Jacksonville's Northside had the region's highest industrial vacancy rate of over 15 percent.

First quarter reports also show that the total office vacancy rate was over 20 percent. However, office space saw a positive absorption of over 35,000 square feet. Currently, Arlington has the highest office vacancy rate at almost 32 percent. The total freestanding retail and shopping center absorption was over 70,000 square feet.

To read more on this article, visit Jacksonville commercial real estate leasing gains strength.

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The value of the 20 largest NE Florida construction projects grew by almost $300 million in 2010. This is a significant increase in project spending compared to 2009.
However, by the end of Q1, 2011, only three (3) comparable building permits have been issued. Compared to the twelve (12) permits issued by end of Q1, 2010, NE Florida is off to a slow start.

The silver lining to this news is that the three (3) largest projects on the top 20 list are still under construction, and will continue to provide jobs in the area. The top three (3) projects are the Duval County Courthouse at $150 million, the Baptist/Wolfson Tower at $100 million, and Saft America Inc. at $65 million.

The top 20 construction list is comprised of office, hospitality, retail, schools, recreational, industrial and multifamily units.

To read more on this article, visit Construction rebounds in 2010, but 2011 starts off slowly.

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