The city issued a permit Nov. 3 for Flagstar Bank to build-out offices at 8800 Baymeadows Way W. in Deerwood Center for its residential mortgage loan servicing center.
East Coast Construction Services is the contractor for the $280,000 project to renovate 7,639 square feet of space on the fourth floor of the five-story Baymeadows office building.
Flagstar spokesperson Susan Bergesen said Sept. 26 that Flagstar previously leased two floors, totaling about 27,000 square feet of space, at 532 Riverside Ave. but used only one. She said the lease expired.
That building is the Florida Blue structure in the Brooklyn area of Downtown.
Bergesen is vice president of corporate communications and media relations for Troy, Michigan-based Flagstar.
Bergesen said the space at 8800 Baymeadows Way W. “has a layout that better supports collaboration among our 80+ team members currently at the Riverside Ave. location.”
She said that in addition to “being more conducive to a collaborative work environment, the new facility is located closer to where the majority of our employees live.”
She said Flagstar expects to move into the offices at year-end.
Place Plan LLC is the project designer.
Newmark Phoenix Realty Group CEO Jim Sebesta in Jacksonville and Newmark Executive Managing Director Dan Canvasser in Detroit represented Flagstar.
CBRE Senior Vice President Oliver Barakat in Jacksonville represented the landlord.
Flagstar Bank, a subsidiary of Flagstar Bancorp, says at flagstar.com that it operates 158 branches in Michigan, Indiana, California, Wisconsin and Ohio.
Its mortgage division operates nationally through 79 retail locations and a wholesale network of about 2,600 third-party mortgage originators.
It also services mortgage loans, handling record-keeping for $343 billion in home loans.
It came to Jacksonville in 2019 when it bought the loan servicing operation of LoanCare.