Cushman & Wakefield has negotiated a new 8,084-square-foot lease for Office Evolution at JTB Center, a 220,000-square-foot office park in Jacksonville, Fla. The tenant, a growing coworking franchise, plans to open five locations in the Jacksonville metro over the next several years.
Located at 5011 Gate Parkway, JTB Center comprises two assets—the Carlton and Collier buildings—completed in 1999 and 2001. The properties sit on 15.2 acres and are LEED Gold certified. According to Yardi Matrix, landlord TPG Real Estate acquired the complex in a $195 million portfolio deal from Parkway Properties in September 2016.
Flexibility and privacy
The new tenant’s space at Building 100 within JTB Center is currently being built out and will feature 30 private offices, a coworking lounge and two conference rooms, with completion slated for May. Office Evolution offers coworking and private office space, virtual offices and business services. Additionally, the company provides phone answering services and private mailboxes.
Cushman & Wakefield Senior Associate David Hillegas facilitated the negotiations on behalf of the tenant. Victor Hughes with Touchton Property Partners represented TPG Real Estate.
“Our new center is centrally located with easy access to major highways. It’s also close to the St. Johns Town Center, which will provide our members with access to the best shopping and dining in Jacksonville,” said Office Evolution franchise owner Michael Wielgus, in prepared remarks.
Images courtesy of Yardi Matrix and Workscopes