QuoteCitizens Property Insurance moving 1,000 workers Downtown
The Citizens Property Insurance Corp. Board of Governors unanimously voted Friday to move into the EverBank Center Downtown, where it will consolidate 1,038 workers from across the state.
Citizens signed a 10-year lease for the Downtown center owned by Amkin West LLC, who outbid Crocker Partners for the lease. Amkin West LLC proposed $41.6 million over a 10-year period, while Crocker Partners offered two options, one for $48.7 million and the other $46.3 million, for three separate buildings.
Full article:
http://www.bizjournals.com/jacksonville/news/2015/02/06/citizens-approves-move-to-everbank-center.html
Wow, good deal.
I guess I'll be standing in line to catch the elevator like the Everbank employees. Having six elevators to myself was great will it lasted. Anyway, great news for DT.
That move should just about fill up that building. What would be the next DT building to start filling up? Outside of Everbank building, I see no other building actively getting tenants.
Quote from: Dapperdan on February 06, 2015, 11:50:37 AM
That move should just about fill up that building. What would be the next DT building to start filling up? Outside of Everbank building, I see no other building actively getting tenants.
Suntrust Tower has 3 or 4 companies lined up. C&W is looking to lease about 13,000 sq ft. Morgan and Morgan is also expanding in that building along with a few others will be gobbling up another 12-13,000 sq ft later this year.
The article states the vacancy level at Everbank will drop to around 10%. I thought I read somewhere the Suntrust Tower will be at or near 60% occupied once PWC moves in.
Could we be almost at the point now where another Office tower may be needed to be built?
No. Not even close.
Quote from: thelakelander on February 06, 2015, 01:51:03 PM
No. Not even close.
Particularly, I'd think, since the SunTrust building's occupancy increase is directly related to cannibalizing a tenant from the Barnett Center, which I didn't think was more than 70-75% occupied to start with.
Isn't occupancy pretty low in the former First Union/Florida National/Wachovia building in Enterprise Center too?
Enterprise Center hasn't been the same since Wells Fargo relocated their offices to One Independent Square (Wells Fargo Center).
My understanding is that Independent Square, the BB&T building, the CSX buildings, the Prudential/Aetna buildings, and Gulf Life/Riverplace are the towers that are close to full; is that correct? With Barnett/Bank of America, SunTrust, Enterprise, and (until now) EverBank the laggards.
What are the more occupied of the older towers? My guess would be Greenleaf & Crosby and the Ed Ball Building being in the best shape.
Quote from: Wacca Pilatka on February 06, 2015, 03:48:16 PM
My understanding is that Independent Square, the BB&T building, the CSX buildings, the Prudential/Aetna buildings, and Gulf Life/Riverplace are the towers that are close to full; is that correct? With Barnett/Bank of America, SunTrust, Enterprise, and (until now) EverBank the laggards.
What are the more occupied of the older towers? My guess would be Greenleaf & Crosby and the Ed Ball Building being in the best shape.
121 Atlantic is by far the most leased older building, followed by probably the building On Ideas is in.
Greenleaf & Crosby has a high vacancy rate. Ed Ball is COJ now. One block awat from the Ed Ball Building sits the 19-story old JEA building on Duval Street. It's completely empty.
The JEA building's condition is deeply saddening. I always liked that building a lot.
Thanks for the info...for some reason I thought a law firm occupied most of the G&C building and that it had a low vacancy rate.