TPG Real Estate Partners Investments LLC, a San Francisco-based investor, wants to create a Planned Unit Development at the Butler Plaza property it owns at Belfort Road and Butler Boulevard, where Wounded Warrior Project leases in one of the three buildings at the site.
A written description says the applicant “intends to subdivide the Property and sell the buildings to individual owners.”
Jacksonville City Council is scheduled to consider the rezoning request, Ordinance 2025-0450, in August.
The legislation was introduced June 24.
Council scheduled public hearings Aug. 12 and at the Council Land Use and Zoning Committee Aug. 19. Both meetings start at 5 p.m. In Council chambers at City Hall at 117 W. Duval St. Downtown.
TPG owns the property through Jacksonville Butler PropCo LLC.
The rezoning is from Industrial Business Park District to PUD.
The application shows the 16.47-acre property, listed as 4899 Belfort Road, would be divided into three parcels.
The written description for the Belfort/JTB PUD dated April 22, 2025, says the owner wants to rezone the property “to facilitate subdivision on the existing office development.”
The proposed commercial square footage is 500,000 square feet.
England-Thims & Miller Inc. is the civil engineer. The Driver, McAfee Hawthorne & Diebenow law firm is the project agent. Both are based in Jacksonville.
Butler Plaza comprises three office buildings totaling almost 262,000 square feet of space on the property at 4875, 4887 and 4899 Belfort Road. The structures were built in 1999, 2001 and 2008.
The site is east of Belfort Road between Butler Boulevard and AC Skinner Parkway. The Duval County Property Appraiser shows it as 16.9 acres.
• Building 1 at 4899 Belfort Road is 86,929 square feet built in 1999. Wounded Warrior is in Suite 300 of that building.
• Building 2 at 4887 Belfort Road is 87,433 square feet built in 2001.
• Building 3 is shown as a small utility building.
• Building 4 at 4875 Belfort Road is 87,433 square feet built in 2008.
TPG Real Estate Investments LLC bought the property for $37.9 million in December 2019 from Greenfield Partners of Westport, Connecticut.
Liberty Property Trust of Malvern, Pennsylvania, sold it to Greenfield Partners in December 2013 as part of a portfolio of five separate Southside properties for $65.8 million.
TPG.com says TPG is a global alternative asset management firm founded in 1992, now with $258 billion of assets under management and investment.
TPG registered Jacksonville Butler PropCo with the state in November 2019, listing its Fort Worth, Texas, office as the ownership address.