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Real Estate
Jax Daily Record Monday, Jul. 27, 202001:58 PM EST

California owner updates One Enterprise Center Downtown

Michaels Development Group said it invested $4.5 million into renovating the 22-story building.
by: Scott Sailer Staff Writer

Onwership of One Enterprise Center at 225 Water St. Downtown announced July 27 that it completed a $4.5 million renovation to update the building.

“We chose building updates that will be highly effective from both a practical and visual perspective,” said Joseph Michael, who leads Los Angeles-based real-estate company Michael Development Group, in a news release.

New monument sign for One Enterprise Center.

The release said improvements at the 22-story, 317,571-square-foot office tower include:

• Main lobby renovation with a tenant lounge and rotating local artwork

• Modernization of the elevators to a destination-style system for tenant security and efficiency

• Window replacement and resealing

• Fire protection system improvements

• HVAC system replacement

• An electronic directory

• Monument sign replacement

• Lighting and security cameras

• Exterior landscaping

• A modern art sculpture focal point donated by philanthropist Preston Haskell and supported by First Tennessee Bank

Public art sculpture in front of the building donated by philanthropist Preston Haskell.

Michael, through Rosencrans 2004 LLC, bought One Enterprise Center for $15.2 million in 2017.

The building, which features a glass-panel exterior and a glass atrium dome, is connected to the 354-room Omni Hotel and the two structures share a parking garage. 

JLL Executive Vice President Jesse Shimp and Senior Vice President Preston Phillips represent Michael Development Group in leasing the office building.

The news release said One Enterprise Center has the largest contiguous space available in Downtown Jacksonville. The building occupancy is 30%.

The company said there is 240,000 square feet of space available in the building, with 200,000 square feet contiguous.

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