Movement continues toward Timucuan Asset Management Inc.’s build-out Downtown on part of the top floor of the Jacksonville Jaguars’ One Tower Court headquarters.
The city is reviewing a permit at an estimated project cost of $900,000 for work at 1 Tower Court, the address of the six-story building in development next to the Four Seasons Hotel and Private Residences.
The architect for the Timucuan Asset Management build-out is kasper architects + associates Inc.
The Jacksonville-based private investment and asset management firm will lease about 7,034 square feet on the 25,064-square-foot top floor of the building, branded One Tower Court, which is off East Bay Street on the Downtown Northbank riverfront.
The Jaguars will lease three floors.
Jacksonville-based real estate firm NAI Hallmark is representing the landlord in tenant negotiations and is serving as the building property manager.
“Across the market, we’re seeing a flight to quality and Timucuan Asset Management is a great example of a tenant seeking office space of the highest caliber as they seek to retain and attract top level talent to Jacksonville,” said NAI Hallmark co-CEO Christian Harden in a statement Dec. 10.
Timucuan Asset Management is a private investment firm now based Downtown at 200 W. Forsyth St., Suite 1600.
Executives have not responded to requests for comment.
The Timucuan.com site says that the firm, established in 1988, manages funds for high net worth individuals, family offices and institutional investors.
Russell Newton III is the chairman emeritus, forming the investment manager in 1988 when he developed the strategy that set the course for the practice.
He also serves as general partner of The Timucuan Fund L.P., which he formed in 1990.
Timucuan.com shows Timucuan Asset Management is led by President and Chief Investment Officer Christopher Schmachtenberger; Vice President James W. Moore; Vice President Todd B. Martin; Vice President Dennis D. Blyly; and James Franco.
One Tower Court
Shipyards Office LLC, led by Jaguars owner Shad Khan’s Iguana Investments Florida LLC, owns the 137,000-square-foot building.
First called One Shipyards Place, the office building has been branded One Tower Court.
The city issued a permit in May 2024 for PCL Construction LLC of Orlando to build the structure at a cost of almost $39.2 million.
The office building is designed with 132,493 square feet of enclosed space and 10,185 square feet of unenclosed space on the riverfront near EverBank Stadium.
NAI Hallmark announced Sept. 30, 2025, that it is the exclusive management and leasing agent for the office building on behalf of Shipyards Office LLC.
NAI Hallmark’s brochure shows a 137,000-square-foot structure with the ground floor including a fitness center and a restaurant, among other uses; the Jaguars headquarters on the second, third and fourth floors; and 25,064 square feet of available space on each of the fifth and sixth floors along with private terraces.
The brochure says the building will be ready for tenant build-out in February 2026.
NAI Hallmark said the ground floor will include 12,000 square feet of retail and amenity space, including a fitness facility and the restaurant that offers “a stunning patio view of the event lawn and marina” and “is poised to become a vibrant hub for business and leisure.”
The city issued a permit April 16 for Jacksonville-based Auld & White Constructors LLC to build-out the commercial gym in a shell space on the first floor at a project cost of almost $1.51 million. Kasper architects + associates is the architect.
A site brochure shows the fitness center at a total 6,633 square feet.
The Jaguars landed a permit May 6 for the team’s new headquarters at a cost of almost $12.21 million. Auld & White Constructors LLC will build-out 63,500 square feet of space for the Jaguars to lease on the second through fourth floors.
The Jaguars headquarters is moving from nearby EverBank Stadium, which is being renovated on track for completion by 2028.
Kasper architects + associates is the architect for the Jaguars office floors as well as the building lobby.
NAI Hallmark said the top two floors will offer “unparalleled view corridors of Jacksonville’s picturesque waterfront and urban landscape.”
The property
In January 2023, Jacksonville City Council approved a redrafted $129.75 million incentives deal for the 170-room Four Seasons hotel, 26 residences, office building, a city-owned marina support building and a public marina.
Khan leads the development of the residences and the hotel, targeted for completion June 30, 2027. Khan and his daughter, Shanna, and son, Tony, will own three of the four penthouses in the residential side of the angled building.
The Northbank project at 1406 E. Bay St. is near EverBank Stadium, which is under renovation as the Jaguars’ “Stadium of the Future.”