Landmark Wells Fargo Center for sale


  • By
  • | 12:00 p.m. November 13, 2013
  • | 5 Free Articles Remaining!
Wells Fargo Center
Wells Fargo Center
  • News
  • Share

CBRE is marketing the Wells Fargo Center for sale.

The signature building, constructed in 1975 for the headquarters of Jacksonville-based Independent Life & Accident Insurance Co., is owned by a Wilmington, Del.-based trust.

CBRE, as the exclusive adviser, is presenting "the opportunity to acquire the 100 percent fee simple interest" in the 37-story tower.

The 648,307-square-foot structure sits at 1 Independent Drive W. in the heart of Downtown's Northbank district.

Property records show a 2013 taxable value of $48 million. CBRE does not list an asking price.

CBRE's executive summary says Wells Fargo Center occupies a full city block with views overlooking the St. Johns River and Downtown Jacksonville.

Its "exceptional amenity base includes the prestigious River Club on the 34th and 35th floors of the building, The Atrium cafe, a bank branch, a 350-seat auditorium, and a variety of retail stores in the soaring 4-story atrium lobby."

The building is 88 percent leased to 47 tenants, including Wells Fargo, Regency Centers, UBS and the Internal Revenue Service as well as regional corporate tenants, including finance, legal, accounting, government and private equity firms.

Wells Fargo's lease runs through 2024.

Then there's parking, which CBRE said is provided below the tower in a garage as well as in two additional garages, for a total of 1,831 spaces.

"The property is offered on an 'as-is, where is' basis for the fee-simple interest in the buildings and the land thereunder," says the summary.

 

Sponsored Content

×

Special Offer: $5 for 2 Months!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.