Allstate is making tenant improvements at what was the Allstate Campus office park now owned by Trevato Development Group.
The city is reviewing a building permit for improvements to 23,190 square feet of space for Allstate at an estimated project cost of $1.3 million at 4920 San Pablo Road S.
Plans show Allstate is remodeling existing space on the third, fourth and fifth floors in the five-story Building C at 1776 American Heritage Life Drive within the campus. That building is 51,900 square feet.
The space is for Allstate Benefits, part of Allstate Insurance Co.
GastingerWalker of Kansas City, Missouri, is the architect.
Through SP 1776 LLC, Jacksonville Beach-based Trevato paid $20 million on May 31 for the Allstate Campus office park on 30 acres near Mayo Clinic in Florida. The Berger Co. LLC of New Orleans financed the deal with a $23.75 million mortgage and security agreement.
Trevato said in a May 31 news release the property comprises three buildings totaling 235,484 square feet of commercial space.
It bought the property from American Heritage Life Insurance Co., a subsidiary of Northbrook, Illinois-based Allstate.
Duval County property records show two of the buildings – eight floors and two floors – were developed in 1994 and the third – five floors – in 2001.
Trevato said the new Stellar Energy headquarters will be the anchor tenant. It will lease 34,600 square feet of space on the top two floors of the main eight-story building.
Stellar Energy is now based at 3015 Hartley Road in the Mandarin area of Jacksonville.
Trevato Director of Operations and Portfolio Katelyn Taylor said in the release that Trevato has pre-leased more than 120,000 square feet of total space based on its plans “to reimagine the campus to lifestyle office.”
Trevato anticipates renovations to begin in the fourth quarter of 2023.
It said it is rebranding the property and completing designs, but could not provide details nor share information about other prospective tenants.
The release said the design and architecture team includes CD+urban studio architects/placemakers, headquartered in Jacksonville, as well as Chicago-based Valerio Dewalt Train, serving as the lead architect and designer on the project.
The CBRE real estate company will manage leasing for the development. Vice President of Office Leasing and Sales Billy Kuntz will lead the efforts.
CBRE Senior Vice President Mike Harrell represented the seller in the deal, Trevato said.
Jacksonville-based American Heritage Life Insurance Co. developed the property when it relocated its headquarters from Downtown.
Allstate Corp. completed its $1.1 billion acquisition of American Heritage Life Investment Corp., a holding company for the insurance company, in October 1999.
“Allstate employees have more choice about where they work, and we no longer need as much office space,” Allstate said in a statement June 6.
It did not detail how much space it uses and for which functions.
“We’ll continue to utilize a portion of the Jacksonville office for employees who choose to work in person,” it said.