The Baymeadows property that was developed for AT&T American Transtech in 1983 has been sold for redevelopment as an industrial park.
Concentrix CVG Customer Management Group Inc. sold the property at 8000 Baymeadows Way on March 26 to Foundry Commercial LLC, which bought the land and buildings through Baymeadows Property Owner LLC for $18 million.
Simmons Bank, an Arkansas state-chartered bank, made a $42.85 million mortgage to the buyer.
"Foundry’s acquisition of 8000 Baymeadows Way represents our continuing efforts to provide Class A warehouse space in areas of demonstrated need," said Mark Scott, partner in Foundry's Industrial Real Estate Solutions in Jacksonville.
Scott said March 31 that Foundry will demolish a 457,000-square-foot office building and replace it with more than 400,000 square feet "of new, modern warehouses similar to our development at Butler/95 Logistics Center."
Foundry completed the 183,345-square-foot Butler/95 Logistics Center in early 2024 at Baymeadows Way and Cypress Plaza Drive, south of Butler Boulevard between Interstate 95 and Philips Highway.
The Transtech property deed and mortgage were recorded March 31 with the Duval County Clerk of Courts.
The property is in motion for redevelopment as the city reviews permits to demolish the buildings and construct warehouses on the site, which is west of Interstate 95 and north of Baymeadows Road within the Deerwood Center office park.
HGR Construction Inc. of Altamonte Springs is listed as the contractor for the estimated $2 million project to demolish the three-story, 456,000-square-foot office building.
The city has been reviewing permit applications for Foundry Commercial Group of Orlando to build speculative warehouses totaling 403,936 square feet at a combined estimated project cost of $16.83 million.
AT&T American Transtech developed the campus to handle shareholder services for the court-ordered breakup of AT&T.
Duval County property records show that Transtech built four, three-story connected buildings totaling 353,269 square feet and a two-story, 106,275-square-foot computer/telecom data center on 28.29 acres. The square footage totals almost 460,000 square feet.
After several ownership transitions through sales, the property is in line for a new identity.
Foundry is listed on plans as the owner and developer of “Baymeadows Way Industrial.”
Plans show Building 100 at 199,086 square feet and an estimated project cost of $8.04 million and Building 200 at 204,850 square feet at an estimated $8.79 million project cost.
C4 Architecture LLC of Orlando is shown as the architect and the mechanical and plumbing engineer. Langan Engineering of Jacksonville is named as the civil engineer. The city received civil engineering plans in December.
Foundry Commercial is a full-service commercial real estate company that works in the office, industrial, retail, multifamily, health care, religious and not-for-profit sectors. It has a Jacksonville office.
In early 1998, AT&T sold the Transtech business to Cincinnati Bell Inc., which added the entity to its customer service division called Matrixx Marketing. Later that year, Cincinnati Bell spun off Matrixx and another division into a new public company called Convergys Corp. In 2018, Convergys Corp. was bought out by California-based Synnex Corp., which combined the business with its customer services subsidiary, Concentrix.
Concentrix had operated at the Baymeadows Way property, with ownership listed as Convergys Customer Management Support Inc. and Concentrix CVG Customer Management Support Inc., both in Cincinnati. The building now appears to be largely vacant.