Quote• Addison Commercial has had “For Sale†signs on the Barnett Building and the Laura Trio across the street for several months, but it looks like those signs may be coming down. A developer has signed a contract on both properties. The seller, JDI Realty, foreclosed on the properties which were previously owned by Kuhn Development and partially renovated. According to broker Bob Knight, it’s too early to announce details but the buyer “is local and paying cash.â€
http://www.jaxdailyrecord.com/citynotes.php
wow. I wonder what this means? I always thought it would be a good idea for Vestcor to take the old Barnett Bank building and convert it to apartments like 11E and the Carling.
Does anyone know any details? I always thought the Barnett was a steal since most of the gutting has been done and the outside windows replaced. It is perfect for someone to come in and finish the job. The Laura Trio is a different story.
Local and paying cash?
In this market, that may well be A: COJ or B: Some company buying the Barnett for an office building.
Not sure who would undertake a residential project of that magnitude in the current environment, or could pay cash for it even if they wanted to. Of course I guess that really depends on the sales price.
If the properties foreclosed then i would imagine the sale price is quite cheap.
Can't wait to hear more on this one.
I hope its not first baptist church
QuoteI hope its not first baptist church
Buzz-kill....... :-\
I heard this rumor last week from a reliable source and if the second part of it is true then we will all be excited. My source would not elaborate, because he knew I would "spill the beans", but it looks good. Not FBC also.
Basstacular
I hope your rumor is true. I wish some retail company would take a chance and open an old school down town department store. If only I could win the lottery.
I am trying to think who would have the cash and ability to use these buildings. Aside from Vestcor, maybe Sleiman. Company wise, Everbank is doing well and, while they just moved not too long ago to Riverside Avenue, maybe they need more space. Another would be the Fidelity company that just made a billion dollar acquisition in Minneapolis and indicated they would be moving people here. How about a hotel? Seems it would be a tough sell at the moment but again, for the right price, maybe. It's a great location. We shall see.
how about FCCJ
Why would First Baptist want to buy those buildings??? give it a rest. It would be cool to see Fidelity locate some employees in the old Barnett Bank building...but I would rather there be residents there, thus creating an almost 24 hour acivity in that area.
QuoteAh yes, here it is.....Minneapolis. Where did your reference come from again, Stjr?
Stephen, I guess it was Milwaukee. Whatever :D.
QuoteFidelity National Information Services of Jacksonville is poised to become the world’s biggest provider of technology services to financial institutions with its acquisition of Metavante Technologies Inc. in a deal valued at about $2.94 billion.
The all-stock purchase, announced Wednesday, will bring several high-ranking Metavante executives to Jacksonville from their headquarters in Milwaukee.
The purchase would not immediately boost rank-and-file employment in Jacksonville, but company officials say the acquisition will strengthen Fidelity National Information Services’ ability to grow and add jobs here over the long term.
Fidelity National Information Services â€" a Fortune 500 company also known as FIS â€" provides software and processing services to 14,000 financial institutions worldwide. Metavante counts 8,000 financial services firms and businesses as its customers. The combined value of the companies will be about $10 billion....
....FIS has 25,000 employees in 93 countries. The headquarters is in the same complex of buildings that contains the headquarters for Fidelity National Financial, a Fortune 500 companies that specializes in title insurance.
The complex also is home to Lender Processing Services Inc., which provides technology services to mortgage companies. LPS was spun off last year from Fidelity National Information Services.....
....Kennedy said other senior executives will be moving from Wisconsin to Jacksonville. He said having them in Jacksonville was a condition of the deal.
In 2008, the two companies generated combined revenue of $5.2 billion and free cash flow of more than $500 million. As a result of the combination, FIS anticipates it will achieve cost synergies of approximately $260 million, according to a news release.
http://jacksonville.com/business/2009-04-01/story/fidelitys_nis_to_acquire_large_financial_services_processing_company
did know one get my Young Jeezy refernce?
Its definitely not Fidelity. While reading Barton and Crawford's emails a month or two ago, I remember some local group (Atkins? I'm not 100% sure) being interested in those buildings. I have no idea of what they want to do with them. Anyway, at this point if it does not involve them continuing to decay or demolition, whatever use they put in them should be positive.
Wouldn't it be cool if they had something (club, restaurant, etc.) at street level (in the Barnett, at least) in time for the Jazz Festival?
More info, but the buyer has not been identified.
http://www.jacksonville.com/business/2009-04-29/story/buyer_has_contract_for_historic_downtown_jacksonville_buildings
Quote from: urbanlibertarian on April 29, 2009, 09:48:42 PM
Wouldn't it be cool if they had something (club, restaurant, etc.) at street level (in the Barnett, at least) in time for the Jazz Festival?
No, it would be cool if they put a restaurant on the top floor or rooftop of the barnett. Can u imagine the view?
It'd be a so-so view, considering BoA blocks your entire view of most of the river.
Quote from: reednavy on May 01, 2009, 12:13:22 PM
It'd be a so-so view, considering BoA blocks your entire view of most of the river.
Nah, you'd get to see the other buildings all around you, you'd have a clear view of Hemming Park, and you'd still see the river everywhere BUT right where the BOA obelisk is. I think it would be great.
Did you ever go up on the roof of 11E back before they shut down the deck? The view from the upper floors in the Carling is stunning as well. I think you're underestimating how nice it'd be.
(http://www.metrojacksonville.com/images/downtown_living_tour/2006/DSC_0047.jpg)
View of The Barnett and the Laura Trio (right) from The Carling.
I have been atop 11 E and Barnett. I got lucky one afternoon wandering about downtown and struck up a conversation with the the security guard who was bored guarding the door at the very beginning of the renovation of the Barnett. The work crew was at lunch and he invited me to a tour. We actually rode in the rickety elevator all the way to the top. He showed me around and the views are fantastic... yeah some are blocked but most are very scenic. It is hard to imagine working in a building like that "back in the day". No A/C that I could see... one steam radiator per room for heat. Open windows provided ventilation and above every door was one of those louvered windows to provide a breeze. Visited several floors including the one that caught fires a few years ago.
Awesome building with very cool features... :)
Quote from: BridgeTroll on May 01, 2009, 01:35:33 PM
I have been atop 11 E and Barnett. I got lucky one afternoon wandering about downtown and struck up a conversation with the the security guard who was bored guarding the door at the very beginning of the renovation of the Barnett. The work crew was at lunch and he invited me to a tour. We actually rode in the rickety elevator all the way to the top. He showed me around and the views are fantastic... yeah some are blocked but most are very scenic. It is hard to imagine working in a building like that "back in the day". No A/C that I could see... one steam radiator per room for heat. Open windows provided ventilation and above every door was one of those louvered windows to provide a breeze. Visited several floors including the one that caught fires a few years ago.
Awesome building with very cool features... :)
How was the interior? Spartan? Plush? Wood panelling? Concrete?
I always wondered what it was like in there before Kuhn gutted it. What floor was their headquarters on originally? Did you see that one?
I saw a lot of wood panelling... but it did not look like that cheap thin stuff. Everything was for lack of a better description... "solid". Heavy wood doors with those crystal or glass door knobs. One office I went in may have been a law office because three walls were line with shelves filled hard covered books. This was in a smoke damaged section though...
I was struck by the open and openable windows... most modern high rises do not let you open the windows...
Quote from: BridgeTroll on May 05, 2009, 07:10:35 AM
I saw a lot of wood panelling... but it did not look like that cheap thin stuff. Everything was for lack of a better description... "solid". Heavy wood doors with those crystal or glass door knobs. One office I went in may have been a law office because three walls were line with shelves filled hard covered books. This was in a smoke damaged section though...
I was struck by the open and openable windows... most modern high rises do not let you open the windows...
I always wanted to go in there. I hear now they've stripped it down to bare walls :-(
Quote from: reednavy on May 01, 2009, 12:13:22 PM
It'd be a so-so view, considering BoA blocks your entire view of most of the river.
Setting the river view aside, you would have this awesome view of all of the surrounding downtown skyscrapers of all various sizes, colors and shapes.
Heights Unknown
Quote from: ChriswUfGator on May 01, 2009, 12:15:51 PM
Quote from: reednavy on May 01, 2009, 12:13:22 PM
It'd be a so-so view, considering BoA blocks your entire view of most of the river.
Nah, you'd get to see the other buildings all around you, you'd have a clear view of Hemming Park, and you'd still see the river everywhere BUT right where the BOA obelisk is. I think it would be great.
Did you ever go up on the roof of 11E back before they shut down the deck? The view from the upper floors in the Carling is stunning as well. I think you're underestimating how nice it'd be.
Didn't they shut the deck down because someone jumped from the deck at 11E?
I think they let the first one slide, and then there was another one, and an attempt or two. They did close it.
Can't say I blame them, Vestcor probably got sick of having their building in the news and cops there all the time. :'(
It was so beautiful up there too. Damn jumpers ruined it for us, I guess they never heard of a bridge?
Heh, I was at the Landing Hooters having dinner a few weeks back and returned from the bathroom to witness a chopper circling the Main St. bridge. After a closer examination I noticed a guy hanging from the rail of the bridge and a couple JSO officers trying to pull him back up. When we left the Landing I struck up a conversation with two parked marine officers that were circling beneath while the guy was hanging. They told me that the guy was attempting to jump but then got scared. He was carted off and baker acted. I had to laugh and say to the officers that "the guy could have picked a better bridge! He would've had to do a belly flop to do any damage!". They agreed.
The Barnett building is a LOT like the old federal courthouse, if you ever went in any of the floors above 1. The lobby, as I remember it a few years ago was remodled in 70s/80s carpet and the floors had the old VCT tile, probably asbestos, but old doors and big windows were the charm. The bathrooms and openings were narrow. Fun place to get lost.
The subject buildings in their heydays and today!
(http://www.cardcow.com/images/barnett-national-bank-building-jacksonville-us-state-town-views-florida-jacksonville-32226.jpg)
(http://photos.metrojacksonville.com/photos/527604851_stpUq-M.jpg)
(http://www.cardcow.com/images/set235/card00110_fr.jpg)
(http://photos.metrojacksonville.com/photos/527600536_cixfb-M.jpg)
I am just itching for details on this one.
QuoteHeh, I was at the Landing Hooters having dinner a few weeks back and returned from the bathroom to witness a chopper circling the Main St. bridge. After a closer examination I noticed a guy hanging from the rail of the bridge and a couple JSO officers trying to pull him back up. When we left the Landing I struck up a conversation with two parked marine officers that were circling beneath while the guy was hanging. They told me that the guy was attempting to jump but then got scared. He was carted off and baker acted. I had to laugh and say to the officers that "the guy could have picked a better bridge! He would've had to do a belly flop to do any damage!". They agreed.
Main Street Bridge?? nah thats not how you end it all, you gotta think big like the Buckman or Dames Point...Are people still using the Mathews for the "big jump"??
The most recent jumper I remember was at the Dames Point this past year. But I don't think she actually made the leap either.
How many times has the Laura Trio changed hands in the last 5 years? 3 or 4?
Trio? City to Police & Fire Pension Fund to Cameron Kuhn to the bank to current contract. Four going on five.
What's the latest in the rumor mill?.... Wouldn't all residential make the most sense at this point, at least for the towers? I heard from someone that Peterbrooke was looking at the Marble Bank.
Peterbrooke is (I'm pretty sure) under negotiations with Sleiman and the Landing. The design contract was supposedly awarded to an architect on the westside (says an architect friend that was competing for the project).
Peterbrooke wanted the Library but did not have financing. No way would they look at the Atlantic Bank building and think they had the money to pull off financing.
Has anyone heard anything on this?
I guess the buyer decided to move on. All for buildings are listed for $6.5 million.
QuoteThe asking price is getting contracts signed. It’s the renovation costs â€" and the red tape that comes with those renovations â€" that’s preventing someone from closing on the buildings.
http://www.jaxdailyrecord.com/showstory.php?Story_id=52743
The demo guys want a piece of these....
QuoteThe Laura Trio consists of the Marble Bank Building, the Florida Life Building and Bisbee Building. Most everyone associated with the trio over the past decade â€" from the City to the Police and Fire Pension Fund to the Kuhn Companies â€" agrees the Marble Bank Building is the gem and other two can be taken or left, but preferably razed.
It’s likely the buildings would have sold and been renovated long ago if either or both of the Bisbee or Florida Life buildings could have been torn down. However, both have been granted historical designations, making it virtually impossible to raze them.
Maybe the designation of a small commercial historic district is needed to preserve our last remaining historic structures downtown? By the way, the "buildings" could not have been renovated long ago if they were purchased to be torn down.
Since the Florida life and Bisbee Building are already "local landmarks" they are as protected as they'll ever be. They can only be demolished upon majority vote of the council. It wouldn't be any different with an historic district.
Frankly, I think that virtually every historical commercial building that's NOT a local landmark has already been torn down. There are a handful of non-landmark buildings left on Bay St and Hogan street, but that's about it. Pretty damn sad.
Once the courthouse finally gets built, look out for a rash of demolitions near the Church district. Lot's of law office and bail bondsmen work out of converted residential buildings. Once the courthouse (finally) moves, expect a few of these gems to be torn down once the offices eventually move to LaVilla. None of them are protected, to my knowledge.
In my opinion, the renovation of these 3 buildings is the key to the revitalization of downtown. I pray they are bought by someone with a vision on making that area the center of our downtown.
Quote from: Joe on July 16, 2009, 01:29:57 PM
Once the courthouse finally gets built, look out for a rash of demolitions near the Church district. Lot's of law office and bail bondsmen work out of converted residential buildings. Once the courthouse (finally) moves, expect a few of these gems to be torn down once the offices eventually move to LaVilla. None of them are protected, to my knowledge.
Why would they move, they would only be a block or two farther from the courthouse than they are now?
Lots of firms (law and bail bonds) like to be as close to a courthouse as possible. Remember that 10 story office building that was canceled due to the courthouse construction delays? It would have been mostly law firms and other legal businesses.
Anyway, you don't have to believe me, but mark my words. Without a focused attempt at preservation, many of those converted residential buildings will have met the bulldozer within a decade of the new courthouse's completion. Maybe the jail will keep some of them around, but most will have no reason not to move a couple blocks West.
The only silver lining is that many of these structures are non-historic and non-urban. Hopefully those will be the first to go.
I was referring to the Church/Duval areas in the Cathedral district, not Bay St.
he high dollar lawyers will be very close but the less expensive ones typically allow more distance. I can't see a move on their part for a couple of blocks. Bay St, sure, Church St, I doubt it.
Does anyone have the most update vacancy rate for office space downtown? I'm going to guess its pretty high. I've been led to believe that there's square miles of vacant space in the burbs and more on the way. I just can't see how it would be economically viable to purchase and renovate these buildings for another 10 years or so. As far as converting it into residential space, I don't think there's much demand for that either right now.
It would be nice to properly seal them to prevent rapid deterioration from being left open to the elements. This way, they'll still be standing when the market changes for the better.
Whoever has the old Barnett Bank property, remind them to restore that electronic clock! It'll be great for a New Years Eve bash.
I would like to see Vestcor get the Barnett Bank building and convert it like they did 11E and the Carling. Does anyone know how those two properties have worked out for them? I wonder what the occupancy rate is?
I think those two properties have worked ok for them, but I believe they shut down all construction (and their const dept) when this whole real estate mess started. Guessing they are hoping to "turtle shell" it and survive until the market straightens out again.
Plus, Vestcor got HUGE subsidies to renovate 11E and the Carling. On the order of tens of millions of dollars.
I don't have a problem with that, as I think it was money well spent. However, I wouldn't expect Vestcor to continue their role without the same injection of cash. So at that point, there are plenty of companies who would rehab the Barnett Bank building if you threw $15 million at them. Which isn't going to happen anymore. Period. Not with budget shortfalls and talks of tax increases.
I love the fact that 90% of the windows in the Barnett building are open for the birds and bees to inhabit. Just lovely.
Except that this being Jacksonville it's going to be pigeons and dirt daubers.