Citizens Property rejects bids

  • By
  • | 12:00 p.m. July 2, 2014
  • Business
  • Share

Citizens Property Insurance Corp. announced Wednesday afternoon it is rejecting the four responses received for its Invitation to Negotiate for a consolidated Jacksonville operations center.

Citizens said it will re-issue the competitive solicitation for the deal as soon as possible.

The insurer said it identified at least one deficiency in each of the four bids it received.

It said three of the replies failed to propose an unqualified firm offer consistent with one of the sections and two of the replies failed to include the required financial documents.

El Ad Florida LLC, Ivy Investments LLC, CRT Baymeadows Ltd. and Crocker Partners submitted bids by the 2 p.m. June 24 deadline.

Ivy Investments submitted the highest bid for $62.97 million for property at 7960 Arlington Expressway, known as Three Oaks Plaza. Crocker Partners bid $58.64 million at Freedom Commerce Centre, which is known as Prominence, in Baymeadows.

El Ad Florida, which owns the Downtown EverBank Center, bid $34.95 million. The lowest bid, at $31.66 million, was from CRT Baymeadows Ltd. at 8800 Baymeadows Way W.

Bid documents and details were not available.

The current landlords did not bid.

Citizens Property Insurance intends to consolidate its Jacksonville operations, which have 800 employees, and move another 148 IT jobs into one large office. The state government corporation, which provides insurance protection to Florida property owners, was seeking about 226,400 square feet of space.

It now leases 211,288 square feet of space among four buildings in Cypress Point Business Park, Cypress Plaza and Corporate Center in the Baymeadows area. The offices comprise underwriting and claims operations

The Tallahassee-based company said it will continue to seek responsive competitive submissions from qualified entities. The information for reissuance of the ITN for Jacksonville Office Space will be available at