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$88M bought 3 Downtown buildings

By Karen Brune Mathis, Managing Editor

When Hertz Jacksonville One LLC paid $88 million Friday for the 42-story Bank of America Tower in Downtown Jacksonville, it also acquired two more buildings — an office building next door and a nearby parking garage.

Santa Monica, Calif-based Hertz Investment Group 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 Investment Group Executive Vice President James Ingram said Wednesday the West Bay Street building is attached to the tower and is occupied by Florida Bank.

Ingram said the West Forsyth Street garage provides an additional 650 parking spaces for the tower. He said the parking is strictly for Bank of America Tower tenants.

Hertz bought the structures from Jacksonville Tower Associates LLC, which is Parmenter Realty Partners of Miami.

The 696,672-square-foot Bank of America Tower at 50 N. Laura St. is Jacksonville’s tallest office building. It includes a parking garage within the structure.

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

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

The market value for the three buildings totals almost $74.7 million, comprising $71.2 million for the tower, $2.11 million for the adjacent office building and $1.37 million for the garage, according to the Duval County Property Appraiser.

The appraiser’s office raised the tower’s 2014 market value in progress, posted previously at $65.55 million.

The tower was built in 1990. The adjacent structure was developed in 1972 and the garage was built in 1988.

UF Health North to open medical office building in early 2015

Now that an objection from a competitor has been dropped, UF Health Jacksonville said it intends to build a 92-bed hospital in North Jacksonville to open in 2017, two years after it opens the medical office building under construction.

That building should open in the first quarter next year. The campus is at 15255 Max Leggett Parkway, off Interstate 95 at River City Marketplace.

The campus is now known as UF Health North.

The medical office center under development will include an emergency room, operating suites, physician offices and dozens of medical specialties. A construction start is pending for the hospital.

In December 2011, the agency issued a provisional certificate of need for construction of the inpatient hospital facility, but Memorial Hospital/HCA appealed the decision.

An administrative law judge recommended that, because the new hospital could cost Memorial $3.5 million to $4.9 million a year, the state should not allow the hospital to be built and agency officials decided to follow that recommendation. Memorial dropped its objection.

VyStar to build at Nocatee

VyStar Credit Union is preparing to develop a location at Nocatee.

Plans filed with the St. Johns River Water Management District show VyStar intends to build a 4,500-square-foot building and drive-thru teller lanes on 1.52 acres at Village Lake Drive and Marketside Avenue in Nocatee Town Center.

Silver Creek applies for Southside facility

Montgomery Land Co. continues work on its plans for the Silver Creek independent living facility south of Gate Parkway West, west of Southside Boulevard, in South Jacksonville.

The St. Johns River Water Management District is reviewing plans for the structure, described as an 81-unit assisted-living facility, 128-unit independent living center and 25-unit memory care center.

Connelly & Wicker Inc. is the civil engineer.

Developer Mitchell Montgomery told the Daily Record in February that the location next to St. Vincent’s Medical Center Southside. It is a 260,000-square-foot project on 16.75 acres that are undeveloped.

Silver Creek Jacksonville is shown on plans as three buildings — a four-story assisted living center; a four-story independent living center; and a one-story, 30-bed memory care center.

The project is shown as 235 units and 303 beds.

kmathis@baileypub.com

@MathisKb

(904) 356-2466

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