A joint venture led by Stiles acquired 93.1 net developable acres across six parcels at World Commerce in St. Johns County $45 million. The partnership consists of Stiles, Cantrell & Morgan and FCA Partners.
The acquisition includes Legends Landing, a +/- 40-acre mixed-use retail development positioned along International Golf Parkway, along with five additional parcels within the World Commerce Center DRI that collectively represent one of the largest entitled commercial land assemblages in Northeast Florida.
With multiple parcels, numerous allowable uses and flexible site planning, the portfolio can accommodate a curated mix of national retailers, restaurants, hospitality, office and residential uses.
“This acquisition represents a rare opportunity to control a fully entitled, large-scale development portfolio in one of Florida’s strongest growth markets,” said Jim Loftin, Co-CEO of Cantrell & Morgan. “Entitled land of this scale is increasingly difficult to secure in St. Johns County.”
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