Area brokers and construction industry estimators tell GlobeSt.com the price is considered a bargain since the estimated replacement cost of the structure would be at least $100 per sf, or about $12.5 million. Sleiman's affiliate, Jacksonville Landing Investments LLC, is the property's owner of record.
In a prepared statement, Rouse officials say the property is debt-free. The City of Jacksonville approved the transaction. Facing the St. Johns River, Jacksonville Landing opened June 25, 1987.
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