Aetna Inc. anchors the Aetna Building on the Downtown Southbank but with its lease expiring in two years, it is reviewing the market to determine if it will move to another site or renew where it is.
Aetna leases about 170,000 square feet in the almost 495,000-square-foot, 20-story tower at 841 Prudential Drive.
Its lease expires Aug. 31, 2017, which might sound like a long time but a relocation of that size takes time to find, negotiate and build-out a site.
“Given the size of the property, we have begun the process of evaluating our options going forward,” said Aetna spokesman Walt Cherniak.
“This is standard practice for Aetna real estate operations,” he said, meaning a relocation is not a given.
The landlord wants it to stay put.
“They’re a great tenant for Jacksonville. They’re a great tenant for Downtown. It’s our desire that they stay that way for the long term,” said Jason Isaacson, the founding partner and president of IP Capital Partners LLC, a private real estate investment and asset management firm that also owns One Imeson Center in North Jacksonville.
The riverfront Aetna Building was built for Prudential Insurance Co. of America and was heralded as the tallest building in Florida when it was developed in 1955. Prudential sold the property in 1998 and it was then resold before Boca Raton-based IP Capital Partners bought it in December 2013.
Aetna Inc. has been in the building since 1999, when it bought the Prudential HealthCare business from Prudential and consolidated operations at the tower. The building is 22 floors but counts 20 for leasing purposes.
Prudential Insurance Co. now occupies a nearby structure.
When sold to IP Capital Partners, the Aetna Building was 98 percent leased to 13 tenants, including four major health care-related tenants that take up more than 85 percent of the property.
In addition to Aetna, major tenants include Baptist Health System, University of Florida Health Jacksonville and Medical Services Co.
Tossgreen to open in Town Center
Tossgreen Custom Salads & Grill will open its second Jacksonville location in July.
Tossgreen intends to open July 5 in St. Johns Town Center at 4668 Town Crossing Drive, No. 105. Lloyd’s Construction and Consulting is shown on building plans as the contractor for the 1,560-square-foot restaurant.
Tossgreen opened its first location more than two years ago in Tinseltown in Southside at 4375 Southside Blvd.
The Jacksonville-based restaurant sells salads, wraps, pita, bowls and burritos featuring organic, local and seasonal ingredients. It offers signature selections or customers can build their own.
Retail notes
• Men’s Wearhouse could open at 10140 Philips Highway. A pending permit shows a $75,000 build-out there of 4,534 square feet of space.
• Destination XL will renovate space in The Markets at Town Center at 4871 Town Center Parkway. A permit application shows a $250,000 renovation of 6,908 square feet of space.
• Pinot’s Palette wants to open at 4890 Big Island Drive in The Markets at Town Center. It’s a bring-your-own-drinks shop where customers can sip-and-paint. The shop is planned next to Visionworks and BurgerFi. A pending permit shows a $25,000 renovation of 1,500 square feet of space.
(904) 356-2466