Jacksonville, Fla. – December 5, 2019 – CBRE announced today it has been hired by First Baptist Church to sell 11.29 acres in the core of downtown Jacksonville, Florida. The site consists of six city blocks and two partial blocks adjacent to the church.
CBRE’s Cliff Taylor, Joe Ayers and Oliver Barakat are marketing the property on behalf of the seller.
“The property is uniquely positioned near the municipal footprint and offers a rare opportunity to ‘place make’ in downtown Jacksonville, one of Florida’s major metropolitan areas,” said Cliff Taylor, senior vice president at CBRE. “It would be difficult to go into any other downtown across the southeast and find a site of this size available for purchase. Redevelopment of the site should draw people from other parts of downtown and the city, becoming a catalyst that will spur additional development creating a vibrant, activated downtown.”
The property is bound by Jacksonville City Hall, Florida State College at Jacksonville, Main Street, The Jacksonville Main Library and the Courthouse District. Flexible “CCBD” zoning opens the site to a host of possible uses. While the property is adjacent to a JTA Skyway stop, the offering also includes three parking garages that house nearly 2,450 parking spaces.
Jacksonville is experiencing net in-migration of approximately 30,000 annually. The city has been a Top-10 rent growth market for the last two years and that trend is expected to continue. Jacksonville’s economic health continues to attract young professionals, namely with financial services backgrounds, with great success. The growing market has recently received several accolades, including the #2 Up-and-Coming City in America, #5 Fastest-Growing City in America and #5 Best City for Millennials.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
