Developer plans $31M Redevelopment of former JEA Headquarters

The long vacant former JEA headquarters located at 233 W. Duval Street was purchased by GNP Development in December for $2.1 million, with plans to restore and expand the building. In addition to restoring the 19 story office tower, GNP plans to construct a new 13 story structure on the east side of the existing building, which will include ground level retail, office and parking. This would bring the total square footage of the property from is current 160,000 SF to 240,000 SF. GNP expects to spend roughly $20 million restoring the 19 story tower, which needs to be gutted in its entirety, due to sitting vacant for over 15 years. If and when the 13 story addition is built, it would bring GNP’s total investment to an estimated $31 million. Dasher Hurst Architects did the renderings, which can be viewed HERE. Andrew Thurlow with the Jacksonville Business Journal has the story.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on April 10, 2015, in Development, Downtown, JAX Business Journal, Office and tagged , , . Bookmark the permalink. Leave a comment.

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