Overview

Description

300 West Adams is a six-story, 34,781 square foot office building with great architectural character and features an on-site parking lot creating a competitive advantage in the downtown submarket. The property is currently 54.17% leased to numerous companies including several high-profile law firms including Randy Reep, Nichols & Pina, Norman Law, Price Family Law and others. The location is ideal for law firms and other companies looking for convenient access to courthouses, city government and other business in the CBD.

Located at the intersection of Adams Street and North Julia Street, the property is in the heart of Jacksonville’s central business district in close proximity to the Duval County Courthouse, Federal Courthouse and Jacksonville City Hall.

Highlights

• Located in Jacksonville’s downtown core, 300 West Adams is within walking distance to the County and Federal Courthouses as well as City Hall and other local government buildings. The property is also walkable to nearby restaurants, amenities and a Skyway stop. Downtown Jacksonville is home to 2,300+ businesses, 8,000 residents, more than 56,000 employees and three Fortune 500 companies.
• With vacancy of nearly 45%, there is an opportunity to increase occupancy to the submarket average of approximately 85%. In addition, with market rental rates of$21.67/sf for office space in this submarket, the property has the ability to increase rental rates.
• 300 West Adams has beautiful historic architecture and character with small floor plates that creates ideal space for law firms and other professional companies. The potential also exists to create a commercial condominium and sell individual condo units to these targeted professional firms.
• The property features a convenient location for an on-site bank branch with drive-thru teller and surface parking lot, both rare in this submarket which creates a significant competitive leasing advantage. The parking lot could also serve as a potential value add development opportunity in the future.
• There are currently $6.5 billion in major development projects in the pipeline for downtown Jacksonville. This includes a new JEA Headquarters across the street from the Property. Minneapolis-based Ryan Companies US Inc is constructing the building - a 162,000 sq ft headquarters for Jacksonville’s public utility. Plans call for an adjacent 657-space garage with 10,690 of activated ground floor space.

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