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Bank of America

$88M Bank of America Tower purchase includes 2 more buildings

By Karen Brune Mathis, Managing Editor

Hertz Jacksonville One LLC bought two more buildings with its acquisition Friday of the 42-story Bank of America Tower in Downtown Jacksonville.

Santa Monica, Calif-based Hertz Investment Group also acquired a five-floor, almost 42,000-square-foot office building at 135 W. Bay St., next to the tower, and a nine-story, 93,000-square-foot parking garage at 25 W. Forsyth St.

Hertz paid $88 million for the three structures, buying them from Jacksonville Tower Associates LLC, which is Parmenter Realty Partners of Miami.

The sale was recorded Wednesday with the Duval County Clerk of Courts.

JP Morgan Chase Bank issued an almost $51.9 million mortgage Friday to Hertz Jacksonville for the three buildings.

The tower's market value is almost $71.2 million. The smaller building's market value is $2.11 million and the garage's is $1.37 million, for a total market value of almost $74.7 for the trio, according to the Duval County Property Appraiser.

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