Pensacola developer and businessman Quint Studer has added another property to his portfolio, and this time, it’s one of downtown Pensacola’s most historic buildings.
The 1896 building at 511 South Palafox Street was home to legendary Pensacola bar Trader Jon’s for a half-century. Over the years, the two-story building has also housed a shoe repair business, a ship chandlery, and clothing store, among other activities. For the past seven years, the building has been home to 5eleven, a special events business which Studer also purchased as part of the deal.
Studer Properties purchased the building in June for $2 million from previous owner Sarah Brown Properties, which had owned the building since 2003.
“We’re excited to announce that the Studer Family of Companies owns the 5eleven Palafox event venue,” Studer said on social media. “We look forward to providing the excellent service that has led 5eleven to a flawless reputation here in Pensacola, including being named as Best of the Coast for seven consecutive years.”
Studer did not purchase the adjacent vacant parcel located at 517 South Palafox — also owned by Brown and utilized by 5eleven for events — but was granted an easement allowing the business to continue using the land for events, as well as a right of first refusal for any future sale.
Studer also owns several nearby buildings, including the historic Bear Block in the 400 block of South Palafox and a number of buildings around the corner on West Main Street. Throughout downtown, Studer has substantial holdings, including the $50 million Southtowne development on the site of the former Pensacola News Journal headquarters, an adjacent office building, and the vacant 19-acre Main Street property formerly owned by the Emerald Coast Utilities Authority. Studer is also under contract to purchase a 10-story office tower on West Garden Street.