FOR SALE $2,950,000 Two-Story Office Building 21,960 SF W/Private Surface Parking Lot 800 West Monroe Street Jacksonville, FL 32202
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FOR SALE $2,950,000 Two-Story Office Building 21,960 SF w/Private Surface Parking Lot 800 West Monroe Street Jacksonville, FL 32202 DANIEL BURKHARDT KEITH GOLDFADEN FOR MORE Senior Vice President Managing Partner 6675 Corporate Center Parkway, Suite 100 INFORMATION: +1 904 404-4455 +1 904 404-4474 Jacksonville, Florida 32216 [email protected] [email protected] +1 904 363 9002 naihallmark.com THE OPPORTUNITY NAI Hallmark, as exclusive advisor, has been retained to arrange the sale of the Owner’s 100 percent fee simple interest in 800 West Monroe Street, Jacksonville, Florida 32202 (the “Property”). Located at the intersection of West Monroe Street and North Davis Street, the Property is in the heart of Jacksonville’s central business district within close proximity to the Duval County Courthouse, Federal Courthouse and Jacksonville City Hall. 800 West Monroe is a two-story, 21,960 square foot office built in 2003 and features an on-site parking lot, a rare amenity in the downtown submarket. The location is ideal for law firms and other companies looking for convenient access to downtown, the courthouses, city government and other businesses in the CBD. BUILDING DETAILS Located at the southeast corner of the intersection Location: of West Monroe Street and North Davis Street in Jacksonville, Florida Address: 800 West Monroe Street, Jacksonville, FL 32202 Land Size: 1.45 acres Building Size: 21,960 gross square feet Year Built 2003 Zoning: CCBD (Community Central Business District) Parking: 80 on-site parking spaces 2 INVESTMENT HIGHLIGHTS GREAT LOCATION Located in the LaVilla District of Downtown Jacksonville, 800 West Monroe is within walking distance of the Duval County Courthouse and the new Jacksonville Regional Transportation Center (JRTC). The Property also borders the Brooklyn neighborhood of downtown which features many new nearby restaurants, retail, and other amenities. PROXIMITY TO MAJOR ROADS Less than 0.5 miles to the west, the Property has easy and quick access to I-95, which connects to I-10 and I-295 within a few minutes. HIGH QUALITY, ATTRACTIVE PROPERTY WITH AMPLE PARKING The building is well constructed and well maintained. The landscaping features an attractive arrangement of manicured lawn, shrubs and plants. And the private surface parking has 80 parking spaces. POTENTIAL FOR OWNER USER The offering gives the potential buyer the opportunity to own and use the Property, which presents potential cost savings and cash flow for the owner. There is also an opportunity to install building signage. NEARBY DEVELOPMENT PROJECTS Besides being located adjacent to one of the newest apartment communities in Downtown Jacksonville, Lofts at LaVilla, the Property is in close proximity to numerous major development projects, summarized on page 18 of this offering. 3 FIRST FLOOR PLAN 4 SECOND FLOOR PLAN 5 PROPERTY PHOTOS Grand Two-Story Reception Area Conference Room 6 Kitchen / Breakroom Private Office PROPERTY PHOTOS Executive Office 7 Restroom Outdoor Balconies on 1st and 2nd Floor AERIAL Monroe Street West N Davis Street North North Street Street Davis Davis Adams Street West 8 VIEW TO WEST N LAVILLA 2 MEDICAL OFFICE JAX REGIONAL TRANSPORTATION CENTER Davis Street North Monroe Street West Adams Street West 9 NEW HEADQUARTERS Fuller Warren Bridge ($145 MILLION) AERIAL 300,000 SQ FT OF OFFICE Acosta Bridge Main Street Bridge N FEDERAL COURTHOUSE Jefferson St SITE Main Street SKYWAY W Monroe St NEW HEADQUARTERS DUVAL COUNTY ($72 MILLION) COURTHOUSE 162,000 SQ FT CITY OF OFFICE HALL SKYWAY 10 THE CITY OF JACKSONVILLE Jacksonville has garnered an impressive list of top rankings Jacksonville, at 874 square miles, is the largest city by area in the continental United States. Once known as the “Bold New City of the Top 10 City for Workforce Confidence – LinkedIn October 2020 South”, Jacksonville continues to grow with nearly 1.6 million people #1 City in Population Gains During Pandemic – LinkedIn living within the MSA, and one of the highest growth rates in the country. September 2020 Due to its convenient location, mild climate, reasonable cost of living, #7 Most Affordable Large Metro People are Moving to – Roofstock July 2020 high quality of life and a business-friendly government, Jacksonville is a popular location for corporate expansions and relocations. Previously Jacksonville Tops Nation for Industrial Rent Growth – Costar February 2020 only known as an intermodal transportation hub and a leading #2 Best Place to Live in Florida in 2020 – Bankrate February 2020 distribution center, the city’s reputation in financial services and health & biomedical continues to attract a talented and diverse workforce. #4 City Where People Moved in 2019 - Hire A Helper February 2020 JACKSONVILLE HIGHLIGHTS #7 for Where Jobs Will Be in 2020 - Forbes January 2020 Home to three Fortune 500 company headquarters Top 20 Best Tech Cities for IT Jobs – CompTIA December 2019 No corporate franchise tax and no state personal income tax #1 City for Talent Attraction – Emsi November 2019 - Site Selection Group June 2019 Home to one of only three Mayo Clinic campuses and one of six MD Emerging Tech Markets to Watch Anderson Cancer Centers Fastest Growing Florida City - U.S. Census Report May 2019 Young, dynamic workforce with median age lower than the U.S. #6 Fastest Growing Large Metros – US Census Report April 2019 median Source: JAXUSA Partnership JAXPORT is Florida’s largest container port and the nation’s second busiest vehicle-handling port 11 POPULATION JACKSONVILLE TOP EMPLOYERS Jacksonville consists of more than 500 neighborhoods in a sectional Jacksonville layout. Duval County is home to nearly 985,000 people and is expected Naval Air Station Jacksonville 20,000 to grow to over 1.0 million by 2025. The Jacksonville MSA consists of the Duval County Public Schools 13,113 following counties: Baker, Clay, Duval, Nassau and St. Johns. Baptist Health 10,650 1.5M+ people within Jacksonville MSA Naval Station Mayport 10,032 Population increased at an annual rate of 2% from 2015–2020 (1.4% Bank of America 7,700 average from 2010-2015) City of Jacksonville 7,471 Annual forecast population growth of 1.61% for the next five years Mayo Clinic 6,400 Jacksonville MSA is still the third most populated city on the East Southeastern Grocers 5,700 Coast, after New York City and Philadelphia. Florida Blue 5,700 Jackonville Region Population Current Population: 1,597,368 Ascension St. Vincent’s 5,400 UF Health 4,200 Fleet Readiness Center 4,200 Amazon 4,000 Citi 4,000 J P Morgan Chase 3,900 Jacksonville Sheriff’s Office 3,032 Gate Petroleum 3,000 CSX 2,900 AT&T 2,600 Florida State College at Jacksonville 2,594 U.S. Postal Service 2,570 Black Night Financial Services 2,400 EDUCATION Memorial Hospital Jacksonville 2,370 University of North Florida 2,352 The Jacksonville region consists of 300+ schools serving over 200K+ United Parcel Service 2,300 students and employing over 15K+ people. Deutsche Bank 2,300 St. Johns Co was once again ranked as the top school district in Florida Brooks Rehabilitation 2,240 Home to 4 of the best high schools in the country (Newsweek 2020): JEA 2,200 Stanton College Preparatory School (#5 FL / #62 US) Web.com 2,000 Paxon School (#20 FL / #195 US) One Call 1,970 Darnell Cookman School of the Medical Arts (#23 FL / #250 US) Flagler Health+ 1,800 Douglas Anderson School of the Arts (#25 FL / #261 US) Johnson & Johnson 1,800 Colleges in the area include Florida State College of Jacksonville, University of North Florida, Jacksonville University, and Edward Waters College Parallon 1,790 Source: The Newsweek/Daily Beast Company LLC and Duval County Public Schools Source: United States Department of Labor; coj.net 12 EMPLOYMENT The City of Jacksonville continues to be the employment hub of North EMPLOYMENT BY SECTOR Florida and is home to three Fortune 500 companies because local government and business leaders have aimed at preserving the area as a Jacksonville Florida US professional location and have helped maintain an exceptional business Trade, Transportation, and 21.2% 20.7% 18.8% climate. Utilities 740K+ people employed Education and Health Services 15.6% 15.4% 16.4% Approximately 78% of workers in the city work for private companies, 11% work for the government, and 5% are self-employed Professional and Business 15.5% 15.7% 14.4% Services The single largest employer continues to be the Naval Air Station Jacksonville, which is the third largest Navy base in the United States Government 11.3% 12.7% 15.0% Other major employers include financial and healthcare industries, Baptist Leisure and Hospitality 10.7% 12.4% 9.4% Health Systems, Bank of America, Mayo Clinic, Florida Blue, Ascension St. Vincent’s Health Systems, UF Health, Citi, and JP Morgan Chase Financial Activities 9.6% 6.9% 6.1% Employment increased at an annual rate of 3% from 2015–2020 (1.8% average Construction 6.6% 6.5% 5.2% from 2010-2015) Manufacturing 4.6% 4.5% 8.6% As of October 2020, Jacksonville has added back 77% of the jobs lost after the onset of the coronavirus pandemic Other Services 3.7% 3.8% 3.9% Employment Current Employment:741,584 Information 1.1% 1.5% 1.8% Mining and Logging 0.1% 0.1% 0.4% Source: BLS INDUSTRY Jacksonville’s location along the coastline of Florida and St. Johns River has proved to be fundamental to the growth of the city and industries that lie within. In addition to being the largest city by land area in the U.S., it is also Florida’s No. 1 port by volume Employment After Onset of Coronavirus Pandemic JAXPORT set container volume records for four consecutive years Despite the impact of the coronavirus pandemic has had on the global economy, container volume only decreased by 5% during 2020 However, its biggest strength lies in Jacksonville’s diversification Over the past decade, the economy has balanced its focus on financial services, consumer goods, manufacturing, insurance, biomedical technology, information services, and distribution 13 Tallahassee Jacksonville Pensacola Orlando Tampa St.