The Southbank Medical Pavilion, the Downtown Jacksonville office tower anchored by One Call, is up for sale.
The sale of the 7.9-acre property at 841 Prudential Drive, adjacent to Baptist Medical Center’s Southbank campus, was announced in a Feb. 12 news release.
A price was not listed.
Steve Leathers, senior managing director for Transwestern Real Estate Services, listed the property. In the release, Leathers said properties the size of the pavilion and located in an established medical district are rarely available.
“It is extremely uncommon for a property next to a major hospital campus to be independently owned and brought to market,” Leathers said. “In most markets, health systems control adjacent real estate through ownership, development restrictions or long-term ground leases to support their own future growth and care delivery.”
The property, which has also been known as Eight Forty One and the One Call building, includes a 1,024-space parking garage and two development outparcels in addition to the 22-story, 493,000-square-foot office tower.
Atlanta-based ShareMD, a medical office building owner and operator, paid $67 million for Eight Forty One in 2020. According to the Duval County Property Appraiser, that was the last time the property was sold.
On its website, ShareMD identifies itself as an outpatient medical property investor with 18 medical office buildings in California and Florida.
“We acquire, manage and optimize outpatient medical buildings in high growth markets, creating long-term value for our investors, tenants and healthcare providers,” the site reads.
Property records show the tower was built in 1955, when it was the tallest building in the Southeastern U.S.
It was constructed for Prudential Insurance Co. and later known as the Aetna Building.
In the release, Leathers said ownership of the property “is less about the leased space in the building and more about long-term strategic advantages and community benefit.”
“With Jacksonville’s growing population, especially more people over the age of 65, it is expected that there will be significant growth in the demand for medical services,” he said.
One Call, a health care management company that provides business services in the workers’ compensation industry, consolidated its Jacksonville offices in the building in 2018.
At the time, One Call said the move would result in about 1,500 company employees working in the building.
One Call did not immediately answer questions about how much space it occupies in the building and how many employees work there.
Baptist Health also has offices in the building, a spokesperson for the health organization said. The spokesperson said the sale would have no affect on Baptist Health’s lease in the building.