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Baptists plan to sell Jacksonville office building

Baptists plan to sell Jacksonville office building
Unnamed developer would put a residential building with retail space on the site
April 10, 2016 02:30PM

The Baptist Building in Jacksonville

The Baptist Building in Jacksonville is under contract to be sold for an undisclosed amount to a commercial real estate developer.
The State Board of Missions of the Florida Baptist Convention approved a sale of the office building. The board also directed 51 percent of the sale proceeds to the Southern Baptist Convention’s program for missions around the world.
The Baptist Press also reported that the unnamed developer pay a “multi-million-dollar” amount for the property would build a residential building on the site, with ground-floor retail stores and on-site parking.
The project is pending the outcome of a rezoning application to the city of Jacksonville.
Baptist Press interviewed Brian Moulder of commercial real estate brokerage CBRE, who called the Baptist Building “a unique site in the urban core, a rare find.” [Baptist Press] — Mike Seemuth

Source: The Real Deal

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