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Jacksonville office building trades for $48 per square foot

The new owner paid $15.2 million for the half-occupied One Enterprise Center
July 02, 2017 12:00PM

One Enterprise Center in Jacksonville

A half-occupied office building in downtown Jacksonville sold for about $48 per square foot.

The buyer, a company called Rosecrans 2004, paid $15.2 million for the 22-story One Enterprise Center, an office building with 317,571 square feet and a 51 percent occupancy rate.

The landmark building with a glass-panel exterior, marble lobby and glass atrium dome is directly connected to a 354-room Omni Hotel and shares parking with the hotel. The office building as a parking ratio of 2.26 spaces per 1,000 square feet, one of the highest in downtown Jacksonville.

The office building’s address at 225 Water Street in downtown Jacksonville is within walking distance of the Times-Union Center for the Performing Arts, the St. John’s River waterfront and Jackson’s Landing, a cluster of retail stores and restaurants.

Brokerage firm Transwestern said in a press release that John Bell, managing director, negotiated the sale after the seller got “35 competitive offers from domestic and foreign capital sources.”