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VanTrust Real Estate wants to complete construction on a five-story office building in summer 2018. A rendering was included in building plans submitted Wednesday.
Jax Daily Record Thursday, Mar. 16, 201712:00 PM EST

Town Center One in for permitting


Town Center One, which has no announced anchor tenant, is in for permitting.

That means the office building is proceeding as a speculative development. Area real estate firms said in year-end reports that Town Center One could be one of the first large projects on the horizon that might offer speculative space.

Brasfield & Gorrie LLC is the contractor for the $15.16 million office building at 5555 Gate Parkway. The five-story, 160,857-square-foot structure is going up on 10.51 acres.

John Carey, executive vice president with developer VanTrust Real Estate, said Thursday morning he had no comment.

In January, Carey said groundbreaking was expected in late spring for completion in summer 2018.

The project’s development costs are estimated at $30 million. It is next to the FBI building.

Carey said previously no tenant had been signed but that his group was working with several prospects for the Class A structure.

The developer is JO Town Center 160 LLC.

VanTrust Real Estate, through JO Town Center 160 LLC, bought the property Aug. 31 from members of the Skinner family for $4.58 million.

VanTrust is based in Kansas City, Mo. Carey leads its regional office. He also is founding partner of Whitehall Realty Partners LLC.

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