WEDNESDAY August 28, 2019
Public legal notices begin on page 3
jaxdailyrecord.com • 35 cents
Daily Record JACKSONVILLE
THE MATHIS REPORT
Third Armory bidder plans mix of arts, apartments
Daily Record JACKSONVILLE
Wells Fargo Center is on the market, report says
Fort Lauderdale-based REVA Development Corp. is one of three firms offering proposals for the property.
Daily Record Daily Record JACKSONVILLE
BY KATIE GARWOOD
STAFF WRITER
ment to bring the building up to modern Class A standards, and to ensure that it remains the iconic building that it has always been.” Diebel A buyer would benefit from increased rents in the market, however, Diebel said. The Wells Fargo Center, at 1 Independent Drive, last sold in June 2014 for $75 million, according to deeds filed with the Duval County Clerk of Courts. Duval County Property Appraiser records show a 2019 assessed value of $54.52 million for the tower. The tower includes two stories of underground parking and 35 floors of
Fort Lauderdale-based REVA Development Corp. proposes 100 units of workforce housing and a cultural arts facility at the former Florida National Guard armory Downtown. REVA was among three groups that submitted bids to purchase the vacant city-owned historic Gothic Revival-style Armory Building at 851 N. Market St. The more than 100-year-old building, along with an optional adjacent property with three warehouses at 928 N. Liberty St., was offered for sale by the city. “MADE at the ARMORY” would be an adaptive reuse of the Armory Building, said Don Patterson, president of REVA Development Corp. It would include working art studios, a performance stage and facility, art galleries and event space. The company plans say it would “help transform the neighborhood and community for greater economic development, live/ work housing, retail, restaurant, arts, and entertainment.” Armory Flats Art Lofts would be built on property adjacent to the Armory Building. Some of the 100 units would be set aside as residential and workspace for artists and their families. Armory Flats also would include commercial space for local nonprofits and art-focused small businesses. Armory Flats would “transform a vacant and underutilized facility into a hub of creative and com-
SEE MATHIS, PAGE 2
SEE ARMORY, PAGE 2
JACKSONVILLE
Photo by Monty Zickuhr
The 37-story Wells Fargo Center at 1 Independent Drive Downtown last sold in June 2014 for $75 million.
KAREN BRUNE MATHIS EDITOR
Colliers executive says occupancy has dropped and it will take “a lot of investment to bring the building up to modern Class A standards.”
Colliers International reported Monday that the 37-story Wells Fargo Tower is on the market. “We are interested to see where this tower trades,” said the Jacksonville office of the real estate group in a quarterly office market report. Being on the market indicates the owners are looking at options that typically include selling it, recapitalizing it or keeping it. Colliers International Executive Director Chuck Diebel said the building needs an owner willing to reinvest capital into it. “Historically, the building has maintained occupancy rates at or around 95 percent; in recent years, though, that number has dropped. It’s just not the same Class A building that it used to be,” he said. Diebel said it will take “a lot of invest-
WD Taproom to open in Baymeadows Starting today, customers can drink while they shop at the Winn-Dixie in the Point Meadows shopping center. Winn-Dixie parent Southeastern Grocers Inc. expanded its WD’s Taproom concept to the store at 10915-122 Baymeadows Road. The taprooms allow customers to “sip and shop” as they buy groceries or sit in the pub-style seating area with flat-screen TVs or fill a growler to go. The taproom grand opening is 5-7 p.m. today, with the first 50 customers receiving a free 64 oz. growler to fill and a gift card valued at $5 or $250.
VOLUME 106, NO. 200 • ONE SECTION