The Downtown Investment Authority accepted Ryan Companies US Inc.'s offer of $2.6 million to buy a site for development of JEA's new headquarters.
Minneapolis-based Ryan Companies will buy the lot at 325 W. Adams St. where the city utility intends to move.
The vote came Wednesday during the DIA board meeting at City Hall. The board issued a 30-day order in April to open the vacant lot up to other bids.
DIA Interim CEO Brian Hughes said no other offers were received.
The JEA selected the Ryan Companies in April to build JEA's nine-story office tower near the Duval County Courthouse.
JEA chose the location over two other sites, including a highly publicized proposal for the office building to anchor Iguana Investments’ Lot J development near TIAA Bank Field.
The total project cost for JEA’s new headquarters is estimated at $72.2 million. According to DIA documents, the West Adams Street site appraised for $2.3 million.
