NAI Hallmark announced Nov. 30 it represented the seller in the sale of the 300 W. Adams St. building Downtown to a buyer that intends to develop a residential tower on the parking lot.
Urban Investments Group LLC of Jacksonville bought the property Nov. 18 for $2.55 million.
Urban Investments Group Manager Dror Zanani said the group has a $1 million budget for interior improvements.
“We also intend to develop and convert the parking lot adjacent to the building into a residential tower,” he said.
“With Downtown Jacksonville growing and evolving, it’s the perfect time to revitalize 300 West Adams Street.”
The release did not elaborate about the tower.
The building, called 300 West Adams Street, is a 34,781-square-foot, six-story, multitenant historic office building that was built in 1927.
The Duval County Property Appraiser assesses it at $2.78 million for tax purposes.
NAI Hallmark said it is 54% occupied.
Hildebrandt Owner LLC sold the property to 300 Adams Street LLC, with an address in Daytona Beach. Urban Properties Management Group LLC is the registered agent.
The property is within walking distance to the Duval County Courthouse, the Bryan Simpson United States Courthouse and Jacksonville City Hall. The new JEA headquarters is under construction across the street.
NAI Hallmark Managing Partner Keith Goldfaden and Senior Vice President Daniel Burkhardt represented the seller, Hildebrandt Owner LLC.
Hildebrandt Owner LLC of Dexter, Missouri, paid $3.45 million for the building Nov. 30, 2017. Goldfaden and Burkhardt also brokered that sale.
Jacksonville-based NAI Hallmark is a commercial real estate brokerage and property management firm.
“The resurgence of Downtown Jacksonville continues to gain momentum, as evident by the strong buyer demand we had for this Property,” Burkhardt said in the release.
NAI Hallmark’s Patrick Thornton and Patrick Carney will be retained as the leasing agents and NAI Hallmark will continue to handle the property management.
