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Jax Daily Record Thursday, Sep. 8, 202203:22 PM EST

Bradford Allen paid $70 million for Prudential Building

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The Chicago-based investment group acquired the Downtown Southbank property Aug. 8.
by: Monty Zickuhr Managing Editor

Chicago-based Bradford Allen Investment Advisors paid $70 million on Aug. 8 for the Prudential Building on the Downtown Jacksonville Southbank.

Bradford Allen acquired the property through Bradford Allen San Marco LLC from The Prudential Insurance Company of America.

Bradford Allen then entered into a $69 million mortgage with Simmons Bank of Nashville, Tennessee.

The deed was recorded Sept. 8 with the Duval County Clerk of Courts.

The property had a taxable value of $61.46 million in 2021, according to property records.

The Class A office building at 701 San Marco Blvd. is about 700,000 square feet and sits on 14.5 acres.

The building and its adjoining parking garage were built in 1985, property records show. 

JLL represented the seller, The Prudential Insurance Company of America, which has owned the building since its construction.

The Prudential Building comprises a seven-story west wing and a 19-story east wing connected by a pedestrian walkway over San Marco Boulevard, JLL said.

The property offers 13 conference rooms, restaurant space on the ground floor, a 282-seat cafeteria, 1,277 garage parking spaces and 945 surface spaces.

It is 60% leased and anchored by credit tenants, The Prudential Insurance Company of America, Interline Brands and the U.S. Army Corp of Engineers.

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