by J. Brooks Terry
Staff Writer
Anticipating an increased interest for legal services near the new Duval County Courthouse, JAX Telecom Partners, LLC purchased the Jacksonville Telco Building for $5.45 million dollars Wednesday.
Located at 421 West Church St., commercial real estate firm Trammell Crow Company brokered the sale of the eight story, 218,000 square-foot building.
“This is a part of a larger trend,” said Brad Chischilles, senior vice president and Jacksonville director for TCC. “We’ve noticed a number of investors are looking for buildings close to the (courthouse).
“That interest is sparking renewed interest in downtown Jacksonville.”
Peter Crolius represented the building’s owner during the sale. He said JAX Telecom Partners sees “tremendous long-term potential,” in it.
“They expect demand for office space will be strong because of the redundant power and various telecommunications features it offers to tenants,” said Crolius.
Chischilles agreed the Class A office building was highly adaptable and could serve a variety of purposes.
Built in 1967, the Telco Building, formerly known as the Towncentre Building, currently houses tenants including QWest, the Jacksonville Children’s Commission and the Bray Singletary law firm.
TCC will continue to handle project leasing and property management for the building.