Dream Finders Homes is moving ahead on redevelopment of the Prominence Office Park it bought in June 2024 in the Baymeadows area of South Jacksonville.
The city is reviewing a permit for DFH Prominence LP to demolish Building 300, a three-story, 96,512-square-foot building on 7.01 acres at 8935 Prominence Parkway. It was built in 1998.
Prominence is at southwest Baymeadows Road and Interstate 95, with Prominence Parkway its main road into the park.
A limited partnership led by Jacksonville-based Dream Finders Homes LLC paid $22 million for 15 parcels, including seven office structures built from 1988 to 1998.
Prominence Office Park comprises 754,691 square feet of office space in buildings that range from 21,991 to 160,065 square feet of space.
For the first demolition, KLT Construction Inc. of Jacksonville Beach and North Florida Waste Management & Demolition of Jacksonville are the contractors. The demolition dates are shown as March 15-April 15, 2025.
The demolition includes the building, the surrounding parking lot and other parking areas.
A site plan shows that Building 300 will be the first to be demolished, followed by Building 700 and then Building 500.
That leaves Buildings 100, 200, 400 and 600.
Southeastern Grocers is headquartered in Building 200 at 8928 Prominence Parkway.
Dream Finders Homes LLC has been exploring scenarios to redevelop Prominence Office Park for offices and multifamily uses.
The Jacksonville City Council gave final approvals for the infill development Feb. 25, 2025.
Council approved twin pieces of legislation to allow for up to 1,435 multifamily units on 71.76 acres of developed and undeveloped land in the park.
It is not clear what is envisioned for the seven office buildings as multifamily units are developed.
Dream Finders has not responded to requests for comment.
DFH Prominence LP bought the property from Crocker Partners V Freedom LLC.
The Daily Record reported Feb. 14, 2024, that the then-36-year-old Prominence Office Park was being offered for sale, according to real estate firm JLL.
Prominence had been owned and managed by CP Group, previously known as Crocker Partners, with leasing handled by JLL Managing Directors Michael Loftin and Jesse Shimp.
Invest.jll.com stated that the “Prominence Office Portfolio 2023” at 8900 Prominence Parkway was under contract, but did not say with whom or at what price.
Records show Bank of America held a $59 million mortgage note as of August 2018. The bank amended its financing statement in February 2023.
The offering said the office space was 50% leased.
Tenants included local, national and government organizations “who have occupied the campus for many years and remain committed to the location,” the offering said.
The deeds show that the buildings are on about 51.55 acres, while the remainder is 6.65 acres of vacant commercial land, 5.71 acres are parking lots and 4.14 acres are wasteland and right of way.
A drive through the park in August 2024 showed signs for tenants that included Southeastern Grocers, Olympus Insurance, Digital Risk, Solera and AutoPoint.
The offering said that the Baymeadows area submarket had more than 5,000 new apartment units added over the previous five years.
“The Properties offer investors a rare, large-scale value-enhancement opportunity in one of America’s top growth markets,” it said.
Value enhancement means a buyer would have the opportunity to reposition or repurpose the property for a higher return on its investment.