Trevato Development Group has branded its 30-acre Allstate Campus office park as The Pondry.
CBRE is marketing the property under that name and “coming in 2024.”
The marketing brochure also hints that residential uses are possible.
“The Pondry reflects how the modern workplace has evolved and adapted to our ever-changing world and way of life. The Pondry combines workspace, residential living, and commerce in a one-of-a-kind mixed-use ecosystem,” says the marketing brochure.
It says The Pondry’s office hub features co-work hoteling, meeting spaces, commercial office space and “first-class amenities.”
It says the location, at 1776 American Heritage Life Drive, is “surrounded by nature and only minutes from the Beaches and Downtown.”
The address also is known as 4920 San Pablo Road S.
“Welcome to how tomorrow works,” the brochure says.
Trevato has not responded to questions about the branding.
The property
Jacksonville Beach-based Trevato announced the deal in a news release May 31, the same day it bought the property.
Through SP 1776 LLC, Trevato Development Group paid $20 million for the Allstate Campus office park on 30 acres near Mayo Clinic in Florida.
It bought the property from American Heritage Life Insurance Co., a subsidiary of Northbrook, Illinois-based Allstate.
Trevato said in the May 31 release the property comprises three buildings totaling 235,484 square feet of commercial space.
Duval County property records show two of the buildings – eight floors and two floors – were developed in 1994 and the third – five floors – in 2001.
Trevato said the new Stellar Energy headquarters will anchor the eight-story building.
Trevato said it was rebranding the property and completing designs, but could not provide details nor share information about other prospective tenants.
The release said the design and architecture team includes CD+urban studio architects/placemakers, headquartered in Jacksonville, as well as Chicago-based Valerio Dewalt Train, serving as the lead architect and designer on the project.
The CBRE real estate company will manage leasing for the development. Vice President of Office Leasing and Sales Billy Kuntz will lead the efforts.
CBRE Senior Vice President Mike Harrell represented the seller in the deal, Trevato said.
Jacksonville-based American Heritage Life Insurance Co. developed the property when it relocated its headquarters from Downtown.
Allstate Corp. completed its $1.1 billion acquisition of American Heritage Life Investment Corp., a holding company for the insurance company, in October 1999.
“Allstate employees have more choice about where they work, and we no longer need as much office space,” Allstate said in a statement June 6.
“We’ll continue to utilize a portion of the Jacksonville office for employees who choose to work in person,” it said.
It did not detail how much space it uses.
Tenant improvements
Trevato Director of Operations and Portfolio Katelyn Taylor said in the May 31 news release that Trevato has pre-leased more than 120,000 square feet of total space based on its plans “to reimagine the campus to lifestyle office.”
Trevato anticipated renovations to begin in the fourth quarter of 2023.
It did not announce who has pre-leased space.
The marketing brochure shows that the eight-floor office building, the tallest on-site, has two floors available. The fifth and sixth levels have full floors available of up to 21,226 square feet of space each.
What is known is that:
• Allstate is making tenant improvements to 23,190 square feet of space at an estimated project cost of $1.3 million.
Plans show Allstate is remodeling existing space on the third, fourth and fifth floors in the five-story Building C, which is 51,900 square feet.
The space is for Allstate Benefits, part of Allstate Insurance Co.
• Hueman People Solutions is renovating space among three floors in the main eight-story Building A at a project cost of almost $1.5 million.
The city issued a permit Feb. 12 for Dav-Lin LLC to renovate 34,232 square feet of space on the part of the second and on the full third and fourth floors.
The talent recruitment firm was launched in 2016 in Jacksonville Beach.
Executive Vice President Terri Cohen said Feb. 27 that Hueman is moving its headquarters from 320 N. First St. because it has outgrown its space.
Cohen said Hueman employs about 400 employees, with half working virtually.
"We love the beaches, and our 1st Street location has enhanced our employee experience for over 25 years," Cohen said.
The Pondry “is a beautiful location that came available at just the right time."
The move is targeted for May.
• Trevato previously announced the new Stellar Energy headquarters will be the anchor tenant, leasing 34,600 square feet of space on the top two floors, the seventh and eighth, of Building A.
Stellar Energy is now based at 3015 Hartley Road in the Mandarin area of Jacksonville.
The city issued a permit Dec. 8 for Dav-Lin LLC to build-out tenant space for Stellar Energy’s headquarters at a project cost of $2.635 million.
The permit shows Stellar Energy is building-out about 13,000 square feet of space on the seventh floor and a limited scope of about 1,600 square feet on the eighth floor.
Plans show the seventh-floor work at closer to 14,000 square feet of space.
Stellar Energy said Feb. 5 it did not have an official move-in date pending construction.
Northeast Florida
The development will be Trevato Development Group’s ninth project in Northeast Florida.
The Berger Co. LLC of New Orleans financed the Allstate property deal with a $23.75 million mortgage and security agreement.
Berger, through Berger San Pablo LLC, executed the mortgage to SP 1776 LLC, shown at Trevato’s headquarters in Jacksonville Beach and to the attention of Len Allen Jr. Allen signed as the mortgagor and as president of SP 1776 LLC.
Contega Business Services LLC registered SP 1776 LLC with the state July 21, 2022. The LLC manager is Nueces LLC, another Contega-assisted company.
Contega Business Services is housed at the Jacksonville-based Driver, McAfee, Hawthorne & Diebenow law firm.
Contega provides entity formation services and entity maintenance services, including registered agent services and fictitious name registration.
The Berger Co. says at thebergerco.com that it has been in “Opportunistic Real Estate Development and Development since 1972.” Its portfolio consists of hospitality, retail and parking properties. It says it also invests in multifamily, offices and land and provides debt financing for opportunities.