Developer Pays $2.6M For JEA HQ Site; Groundbreaking Set For September

Jul 1, 2020

A Minneapolis-based developer closed on 1.5 acres to build JEA’s next corporate headquarters in Downtown Jacksonville.

WJCT News partner the Jacksonville Daily Record reports that Ryan Companies US Inc. announced June 30 in a news release that it paid $2.6 million for the parcel at 325 W. Adams St.

Ryan purchased the property from the city of Jacksonville, a deal approved in a 19-0 vote by City Council in June 2019.

The deed recording the sale was not available as of 10 a.m. June 30 in the Duval County Clerk of Court online records database. 

Downtown Investment Authority CEO Lori Boyer said in an email that the property closing was escrowed last week and was “set to disburse” June 29.

“JEA looks forward to seeing the headquarters project move to the construction stage after a long planning period to address business continuity. The downtown location helps JEA as a municipal utility provide continued support to its customers, employees and the community,” JEA CEO and Managing Director Paul McElroy said in a written statement.

“We appreciate Ryan Companies work with us in adapting plans to meet JEA’s goals and needs for years to come,” he said.

Ryan officials said in the release it will break ground in September on the estimated $64 million to $68 million seven-story headquarters. It is scheduled for completion in early 2022.

Read the rest of this story at JaxDailyRecord.com.