From staff
A Jacksonville landmark is about to be sold.
The former JEA central office building at the corner of Duval and Julia streets should finally change hands within the next two months.
The building was put on the market several years and JEA held an open bid process for the 18-story building. So many local and out-of-town companies bid on the building that JEA was forced to extend the process.
Nancy Kilgo, director of government relations for JEA, said the utility company has been in negotiations with a buyer represented by Petra Management owner Chris Hionides, who has also brokered the sale of two other buildings on the same block as the JEA tower — the Seminole Club and a vacant building.
Kilgo said Hionides represents Kore Properties, LLC, which paid $4.1 million for the 162,500 square-foot building.
“There has been a contract on the building for months,” said Kilgo. “They (the buyers) are toward the end of completing their due diligence.”
Kilgo said the original closing deadline has passed. However, during the environmental evaluation of the building an underground fuel tank was discovered. JEA has agreed to remove the fuel tank and extend the closing deadline.
“It will take about three weeks to get the tank out and that will be done within the next month,” said Kilgo. “After that, the buyer has 20 business days to close. It should be completely done in the next two months.”
According to Linda Reid of JEA’s real estate division, a few of the floors house mechanical operations and aren’t usable in their current state. Also, the first four floors have a much larger footprint than the top 14 floors.
Hionides, who also owns Surface Technologies Corp. in Neptune Beach — a company that resurfaces the decks of aircraft carriers — did not return a call seeking comment.