Jacksonville Property Sale: 30.76 Acres Acquired for $1.49 Million

Jacksonville Sees Property Sale: 30.76 Acres Change Hands for $1.49 Million

Jacksonville, FL – In a significant real estate transaction, Miami-based USA Express Inc. has sold a substantial 30.76 vacant acres in North Jacksonville to PSG Group LLC for $1.49 million. This deal was officially completed on December 4, 2023 and includes a noteworthy $1.35 million mortgage issued by USA Express.

Location and Accessibility

The property, which is zoned as Commercial Community/General-1, is strategically located just north of Airport Road between Interstate 95 and Ranch Road. It lies at the northwest corner of Airport Road and I-95, in close proximity to the Jacksonville International Airport. Interestingly, it is adjacent to a variety of establishments, including the Tru by Hilton Jacksonville Airport and the Red Roof Inn Jacksonville Airport, as well as the Denny’s restaurant.

Duval County Property Appraiser records indicate potential access to the property via two gas stations located along Airport Road and Ranch Road, right near the Wally Park airport parking center. This prime location hints at several commercial development opportunities.

A Brief History of the Land

USA Express Inc. originally purchased the land in 2006 for only $202,500 from the late Jacksonville businessman Hy W. Kliman, who was heavily involved in international trade until his passing in 2017 at the age of 90.

Property metrics show that USA Express also maintains ownership of an adjoining 30.56 acres to the north, currently designated as a conservation easement. This indicates a level of commitment to preserving the natural landscape in the area while also providing opportunities for commercial growth.

Who is PSG Group LLC?

PSG Group LLC, the new owners of the property, are also based in Jacksonville. The group is led by WG Pitts Development Inc., Jorge Andres Suazo, and Crea Arquitectura FL LLC. Their corporate filings have listed various addresses, showcasing a broad operational base. Notably, WG Pitts specializes in construction management, professional services, and real estate development.

The company has an impressive portfolio of projects, including master-planned residential communities, Class A office complexes, and extensive resort developments. Present projects in the area list the 418-unit residential Treaty Oaks in St. Augustine, along with the Hampton Professional Park which comprises over 55,000 square feet.

A Glance at Previous Ventures

While PSG Group is advancing in Jacksonville’s real estate market, it’s worth noting the past challenges faced by president William Pitts, particularly in Georgia. During the economic downturn of the Great Recession, Pitts attempted to create a theme park called Steamboat City in Brunswick, Georgia. The venture ultimately led to bankruptcy in 2010, after failing to break ground on the project.

Despite these setbacks, Pitts and PSG Group continue to pursue meaningful real estate development projects in Florida, with a focus on delivering quality and service. Their commitment to the Jacksonville area highlights the potential for revitalization and growth in the local economy.

The recent sale of the Jacksonville property reflects both opportunities for commercial expansion and the continuous evolution of the urban landscape in this vibrant city.