Cross Regions Real Estate’s Fountains at St. Johns, a mixed-use medical and retail development, will be “the first of its kind” in the area, said Cross Regions CEO David Ergisi.
Fountains at St. Johns will sit on a 23-acre parcel at County Road 210 West and Interstate 95 in St. Johns County. The development will comprise 42,000 square feet of retail space and 40,000 square feet of medical and office space.
Seven of the 14 buildings on the property will be developed in phase one, and the remaining seven will be built in phase two.
Ergisi said phase one should be complete by mid-2020 and phase two before the end of 2021. Cross Regions broke ground on the project Saturday.
Ergisi paid $4.34 million for the property through DAR Investments One LLC.
He’s also buying 33 adjacent acres to develop Fountains North, which would be a similar concept to Fountains at St. Johns.
Ergisi cited the rapid growth around the property. To the east and west, neighborhoods are popping up along County Road 210. Further east on 210 is Nocatee, one of the fastest-growing master-planned communities in the country, according to RCLCO Real Estate Advisors.
“We have thousands of people located on 210 and in Nocatee who will travel through this development each morning going to work and each evening going back home,” Ergisi said.
The company has 11 confirmed tenants. Three are medical companies: Florida Eye Specialists, ENT Specialists of North Florida and Bartram Dental Center.
Ergisi said there are plans to bring in an outpatient surgery center, urgent care facility, primary care center and other specialty providers to the development.