Deutsche Bank is finalizing plans to lease the PHH Mortgage building in Southside, according to sources familiar with the deal but who declined to be identified because of the sensitivity of the transaction.
The lease would provide Deutsche Bank with a three-story, 150,000-square-foot building near its campus at Meridian Business Park, where it leases about 200,000 square feet.
Deutsche Bank declined to respond to questions about a PHH Mortgage building lease, re-issuing its statement that “Jacksonville continues to be a critical component of our location footprint in the Americas.”
Deutsche Bank has been building its Jacksonville presence since 2008 and employs about 1,700 people in the city. It has leased the entire single-story, five-building Meridian Business Park at 5022 Gate Parkway, a little more than a mile from the PHH building at 5201 Gate Parkway.
In addition to Meridian, Deutsche Bank leases another 110,000 square feet of space at Butler Plaza along Belfort Road. It’s unclear if Deutsche Bank would keep that space or relocate those functions to the PHH Mortgage building.
The PHH Mortgage building is managed by Lingerfelt CommonWealth Partners, which has a large portfolio of properties in Jacksonville. That includes Butler Plaza.
Dan Santinga, Jacksonville director of leasing for Lingerfelt CommonWealth Partners, declined comment Tuesday when asked about a Deutsche Bank lease at the PHH building.
He said previously that tenant PHH Mortgage is planning to downsize to 80,000 to 100,000 square feet and exploring its options where to locate.
The PHH lease expires Nov. 30, 2016, which would give Deutsche Bank time to phase in its operations.
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