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Building Area Net

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire 701 San Marco (the “Property” or the “Building”), a 600,112 square foot trophy office tower located in the heart of Jacksonville’s Southbank. Built in 1985, 701 San Marco is a 19-story office building featuring 360-degree panoramic water views of the St. John’s River and located steps from the famous St. Johns Riverwalk. The property features a 1,254-space parking garage with an enclosed connected walkway offering tenants convenient access to the building as well as abundant parking. The Property also features two surface lots with an additional 1,001 parking spaces as well as an opportunity for future development. 


Numerous restaurant and retail offerings as well as proximity to the historic San Marco district are rapidly transforming the Southbank into Jacksonville’s premier neighborhood for young professionals. This submarket has delivered more than 1,200 apartment units within the last three years, with an additional 983 units planned for the next two years. 


Currently, 701 San Marco is 72% occupied and anchored by credit tenants Prudential Life Insurance (S&P: AA-), Interline Brands (Home Deport Parent Co. S&P: A) and The Army Corp of Engineers (United States - S&P: AA+). This location, with connected structured parking, offers outstanding regional and local connectivity with convenient access to Interstate 95 and the Jacksonville Skyway Metrorail.

Investment Highlights

  • 4.9 Years of WALT
  • Credit Tenancy including Prudential (S&P: AA-), Army Corp of Engineers (S&P: AA+) and Interline Brands/Home Depot (S&P: A)
  • Significant additional development potential on a 7.50-acre site
  • Live-Work-Play-Stay location
  • Strong office market fundamentals with significant rental rate growth
  • Structured Parking Garage with 3.8/1,000 SF Parking Ratio
Last Updated Date: 15 Dec 2021

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Last Updated Date: 15 Dec 2021

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