One Palafox Place, LLC, a group of investors managed by Bobby Switzer has entered into a contract with Durnford Enterprises, Ltd, to purchase the city corner bound by Garden, Palafox, Romana, and Baylen Streets.
Durnford Enterprises, Ltd, founded by Crawford Rainwater, Sr., acquired the property in 1980 and restored it with the help of his wife Betty, and son-in law Ken Woolf.
The entire parcel set to switch hands is approximately 4.5 acres. It includes a parking lot on the west side of Baylen Street and two Pensacola landmarks – the historic Blount and Brent buildings, currently occupied by popular restaurants, including The Global Grill, V Paul’s, Picasso’s and NY Nicks. The pending acquisition carries special significance for Switzer, the great-grandson of F.C. Brent, for whom the building is named.
“We have an exciting opportunity to bring new developments to our vibrant and growing downtown, and we look forward to continuing this block’s tradition of being right in the center of the action,†said Switzer.
The property is set to close at the end of April 2015. Switzer says his group will honor all current tenants’ leases and contracts for their full term, emphasizing they should carry on business as usual and expect a seamless transition.