- 2013 - December - 2nd -
EverBank Center is one of at least three Downtown towers listed for sale this year.

EverBank Center for sale

By Karen Brune Mathis, Managing Editor

EverBank Center in Downtown Jacksonville joins at least two other Downtown towers that are for sale.

Colliers International Northeast Florida CEO and Principal Robert Selton said today there has been interest in the 30-story building and that ownership believes it's a good time to market the tower.

The other Downtown towers for sale are the Aetna Building and the Wells Fargo Center.

The Colliers marketing team is Selton, Chuck Diebel, chief operating officer and principal in Northeast Florida, and Achikam Yogev, senior vice president of the South Florida office.

Selton said he was limited in the information he could share because of a confidentiality agreement, but that the building is the largest in Jacksonville and 130,000 square feet has been leased in the past 12 months.

Built in 1983, the tower at 301 W. Bay St. on the Northbank was bought by El Ad Florida LLC in 2004. The 956,201 square feet of leasable space is 86 percent occupied.

Building representative Pamela Smith said occupancy could drop to 61 percent when AT&T leaves its space in May but that she is working with prospective tenants to fill space.

The center has been for sale before. Smith said in September 2012 the ownership was talking with a prospective buyer, but the sale didn't take place.

At that time, the property was listed by CBRE. Smith said it was listed for several months but market conditions weren't right for a sale.

Smith said owners decided to list it again formally because of interest expressed in buying the building.

El Ad bought the structure for $90.9 million and invested at least $3 million into its common areas. Its 2013 certified value and its 2014 market value in progress is $42.5 million.

El Ad hired Smith as its owner representative in August 2010. Working with local real estate brokers and others, she signed EverBank Financial Corp. to lease 270,000 square feet of office space among nine of the building's 30 floors. She said EverBank now has 11 floors.

The structure was built in 1983 and owned by what has become AT&T.

BellSouth Telecommunications Inc. sold the building in 1999 to Capital Group of Jacksonville Ltd. for $67 million. Capital Growth sold the property to El Ad.

BellSouth was formerly known as Southern Bell Telephone and Telegraph Co. and the building was known as the BellSouth Tower at the time it was sold to Capital Growth.

AT&T bought BellSouth in 2006 and remained the anchor tenant in the building, which became AT&T Tower.

Meanwhile, CBRE is listing both the Aetna Building and the Wells Fargo Center for sale.

CBRE Inc. is the exclusive agent for Southshore Group Partners Inc., the owner of the Aetna Building at 841 Prudential Drive on the Southbank. The 20-story, almost 495,000-square-foot office building was said to be the tallest building in Florida when it was developed in 1955.

CBRE also is marketing the Wells Fargo Center on the Northbank for sale.

The signature building, constructed in 1975 for the headquarters of Jacksonville-based Independent Life & Accident Insurance Co., is owned by a Wilmington, Del.-based trust.

CBRE, as the exclusive adviser, is presenting "the opportunity to acquire the 100 percent fee simple interest" in the 37-story tower.

The 648,307-square-foot structure sits at 1 Independent Drive W. in the heart of Downtown's Northbank district.



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