Grand Ocean office and retail property to be built in Atlantic Beach

By: Dan Macdonald

From: Jaxdailyrecord

Grand Ocean, a three-story, 25,000-square-foot mixed-use office and retail building, is planned for the Beaches Town Center in Atlantic Beach.

The development is at 42 E. Coast Drive north of the Coop 303 restaurant. 

It is scheduled to break ground June 1 and be completed in 14 to 16 months, according to a news release May 1 from Shahab Derazi, president of J&H Advisors Inc. of Jacksonville Beach.

It is planned for completion in summer or fall of 2024.

The property is less than 0.4 acre.

The bottom floor will be reserved for retail, dining and interior parking and the top two floors will be Class A office space. Each floor will be about 7,000 square feet. 

There will be 40 on-site parking spaces with valet service for tenant and customer vehicles.

“Our vision is to create a special place that both locals are proud of and that visitors are impressed by,” Derazi said

J&H Advisors is representing project owner GPS Holding Group LLC.

Both groups are at 500 S. Third St. in Jacksonville Beach. Derazi is GPS Holding Group LLC title manager.

The estimated cost of construction is $4 million, according to Reputation Ink, the company's public relations firm.

GPS Holding Group LLC bought the lot for $500,000 in November 2018 from Chris Hionides through Shoppes of Lakeside, Inc., based in Atlantic Beach.

Jacksonville-based Tim Young Construction is the contractor. Developer and property manager Petra will handle retail and office leasing for the space. Hionides is vice president of Petra.

The offices will have balconies with a beach view. Elevators will service each floor.

“The floor plans don’t include demising walls, so our office tenants will have the freedom to customize the space to meet their needs,” Derazi said.

“Plus, with valet service and a two-minute walk to the beach, we expect high demand for this unique workplace.”