Building Up Jax, 8/13: EverBank sold off to TIAA, but it’ll be okay

This week, we discuss EverBank’s pending sale to TIAA, which has turned out to not be as bad as anyone expected. We also note yet another new brewery, and several other upcoming projects.

EverBank-TIAA sale

This week it was announced that TIAA, a large financial corporation based in New York, has reached an agreement to purchase Jacksonville-based EverBank for $2.5 billion in cash.

Rumors had been swirling about a pending sale ever since Bloomberg reported that EverBank was in advanced talks to be acquired by a major financial institution.

There’s been much discussion over the past few weeks about what the now-imminent sale of EverBank would mean for the city. While nothing is set in stone, it appears that the deal may actually end up benefitting Jacksonville in the long run. As part of the deal being announced, it was also disclosed that the combined banking operations of the two companies would still be headquartered in Jacksonville. This means no significant loss of jobs in the city; TIAA has expressed a desire to retain as many EverBank employees as they can.

There are, however, still a lot of unknowns. It’s unclear what the combined banking operations will be referred to as – if the EverBank brand ceases to exist, it could lead to a few key changes. For one, signage atop the bank’s Riverside and downtown buildings would have to be modified. Second, it would have to be decided what would become of the naming rights for EverBank Field. As of right now, there are no plans to change the stadium’s name.

If a rebrand occurs, the stadium’s name will likely either change to reflect this, or naming rights will be sold off to another company altogether.

So what does all of this mean for the average Jax resident? Honestly, probably not much. The deal itself will likely not even be officially completed for at least a few more months, so you won’t notice any changes until then – if you notice them at all.

Main and Six Brewing heading to Springfield

Last week, we mentioned that Hyperion Brewing Company was seeking to move to Springfield.

Now another brewery is looking to join them there. Main and Six Brewing Company will attempt to rezone property at 1636 N. Main St. in hopes of opening a new brewery at the location, according to the Florida Times-Union.

The owner of the brewery, Dennis Espinosa, will purchase the property upon securing the proper zoning.

Noted projects

• Bed, Bath & Beyond subsidiary andThat! will open at 8801 Southside Blvd. in the Timberlin Village shopping center, according to Jax Daily Record. It will replace the recently-closed OfficeMax, and will also have an annex in another unoccupied part of the center (previously home to SoundAdvice and The Athlete’s Foot, among others).
• Target’s location at 10490 San Jose Blvd. will undergo a $350,000 upgrade.
• Wendy’s is in the process of applying for permits to renovate its location at 2006 Park St. in Riverside. The chain has gradually been rolling out its new look for its Jacksonville locations.
• Jax-based Mac Papers acquired Alabama’s Higdon Paper & Packaging this past week.
• Gilbert’s Social, a new southern-concept restaurant by local chef Kenny Gilbert, will open at 4021 Southside Blvd., according to the Florida Times-Union.