by Mike Sharkey
Staff Writer
After being on the market for several years, the old JEA Central Office Building at the corner of Duval and Julia streets has finally changed hands.
A company called 233 West Duval, LLC recently purchased the building from the utility company for $4.1 million.
“It had been on the market for five years,” said JEA spokesperson Gerri Boyce.
The 18-story building is the former home of JEA’s administrative offices. It has 162,500 square feet of developable space with the first four floors larger than the top 14 floors.
According to Glen Trotter, who is a developer and financial advisor representing the ownership partnership which includes Chris Hionides, they plan to refurbish the building into a mixed-use development.
“It’s certainly configured for ground floor retail and either offices or residential or both above,” said Trotter, adding the residential/office component will be determined later. “It will be a function of the market. In this case, one could do either or both.”
Trotter said it’s very early in the planning stages for the building, but anticipates a finished product within the next few years.
“The architecture is outstanding and the building is in very good shape,” he said. “The location is near the planned courthouse and Hemming Plaza, so it’s very strategic.”
Hionides owns Petra Management, which manages several Downtown properties. He’s also a partner in 400 Hogan, which used to house the Seminole Club, a building Trotter says has garnered some interest and would be most suitable for a law firm or CPA firm given its proximity to City Hall and the other City offices, the United States Courthouse at Jacksonville and the planned new County Courthouse complex.
“We’ve been marketing it (the Seminole Club) specifically to law firms,” said Trotter. “We are trying to be proactive. The market has been sluggish, but overall there has been an increase in interest.”
Trotter said the lack of progress on the County Courthouse has affected his ability to lease 400 Hogan as well as other developments in the immediate vicinity. Once construction on the courthouse begins, he expects the interest in the area commercial properties to rise.