VyStar Moving Headquarters Downtown

[Steve]

Guess ole' Jax isn't as dead as some think:

https://www.jaxdailyrecord.com/article/vystar-buying-suntrust-tower-plans-to-move-headquarters-downtown

[KenFSU]

Amazing news.

700 employees adding to the momentum along Laura Street.

I wonder if this means Parador might actually have to make good on the retail portion of their garage?

[jagsonville]

This is obviously great news for downtown as it seems this building will be fully leased. Only concern I have is will this affect the Hotel Indigo developments parking needs? Also, this will probably kill the hotel idea next to the parador garage, I doubt VyStar will be interested in building a hotel. Anyone know if the garage is expandable? Please keep the food truck court though! At first that large sidewalk seemed like a waste of space but it's really found a unique and popular use.

[ProjectMaximus]

Guess ole' Jax isn't as dead as some think:

https://www.jaxdailyrecord.com/article/vystar-buying-suntrust-tower-plans-to-move-headquarters-downtown

Love it! So buying an existing tower in downtown has gotten cheaper than building a suburban campus. Anyway it is good news...glad the timing worked out!

I hope as the existing leases expire those tenants will choose to stay downtown too.

[Steve]

This is obviously great news for downtown as it seems this building will be fully leased. Only concern I have is will this affect the Hotel Indigo developments parking needs? Also, this will probably kill the hotel idea next to the parador garage, I doubt VyStar will be interested in building a hotel. Anyone know if the garage is expandable? Please keep the food truck court though! At first that large sidewalk seemed like a waste of space but it's really found a unique and popular use.

Who owns that sliver of land, and is VyStar buying it? It's currently a taxi turnaround and a very small green space. Not sure VyStar would want to buy that.

I can't imaine it screws up anything with Indigo. They were Valet anyway.

[Snaketoz]

Wouldn't it be wonderful if VyStar, COJ, and Sleiman could collaborate on a parking solution that is appealing to all?

[KenFSU]

Only concern I have is will this affect the Hotel Indigo developments parking needs? Also, this will probably kill the hotel idea next to the parador garage, I doubt VyStar will be interested in building a hotel. Anyone know if the garage is expandable?

Don't forget that we've got a 650-space garage going up on Laura as part of the Trio project. 250 of the spaces will go to Adkins for his tenants, and the city has agreed to lease the other 400 for public use.

[jagsonville]

Only concern I have is will this affect the Hotel Indigo developments parking needs? Also, this will probably kill the hotel idea next to the parador garage, I doubt VyStar will be interested in building a hotel. Anyone know if the garage is expandable?

Don't forget that we've got a 650-space garage going up on Laura as part of the Trio project. 250 of the spaces will go to Adkins for his tenants, and the city has agreed to lease the other 400 for public use.

Good call! I keep forgetting how big that garage will be and how much extra spaces will be available for the city's use.

[jagsonville]

This is obviously great news for downtown as it seems this building will be fully leased. Only concern I have is will this affect the Hotel Indigo developments parking needs? Also, this will probably kill the hotel idea next to the parador garage, I doubt VyStar will be interested in building a hotel. Anyone know if the garage is expandable? Please keep the food truck court though! At first that large sidewalk seemed like a waste of space but it's really found a unique and popular use.

Who owns that sliver of land, and is VyStar buying it? It's currently a taxi turnaround and a very small green space. Not sure VyStar would want to buy that.



From what I recall Mainstreet Capital was recently given an extension on an option to purchase that sliver from the city. Most likely that plan is dead now.



I can't imaine it screws up anything with Indigo. They were Valet anyway.

[JaxAvondale]

Amazing news.

700 employees adding to the momentum along Laura Street.

I wonder if this means Parador might actually have to make good on the retail portion of their garage?

I think the number will be closer to a 1,000 employees once other leases expire.

[JaxAvondale]

Guess ole' Jax isn't as dead as some think:

https://www.jaxdailyrecord.com/article/vystar-buying-suntrust-tower-plans-to-move-headquarters-downtown

Love it! So buying an existing tower in downtown has gotten cheaper than building a suburban campus. Anyway it is good news...glad the timing worked out!

I hope as the existing leases expire those tenants will choose to stay downtown too.

Agreed! Hopefully, they will move into the BBT tower.

[Kerry]

Definitely good news.  As for parking; from the article - The purchase includes the 600-space parking garage next door.

Hopefully this will help get 200 Riverside going and encourage more downtown hotel development (all those out of town vendors, contractors, and consultants have to stay somewhere).

[pierre]

Good news. And also good news that even with this move, they will still maintain the facility on Blanding.

[Kerry]

Good news. And also good news that even with this move, they will still maintain the facility on Blanding.

That is one of the problems with the suburban campus strategy - they aren't scalable, subdividing is practically impossible, and finding a buyer is even harder.  If they didn't keep using it what could they do with it?  I am surprised companies even consider them at all, yet many still do all the time.

[jaxnyc79]

Good news. And also good news that even with this move, they will still maintain the facility on Blanding.

That is one of the problems with the suburban campus strategy - they aren't scalable, subdividing is practically impossible, and finding a buyer is even harder.  If they didn't keep using it what could they do with it?  I am surprised companies even consider them at all, yet many still do all the time.

Maybe server farm/data center