Newspaper article The Florida Times Union

Flagler Signs on to Build Nocatee Office Park; the Project Is Expected to Create 4,000 Jobs in the All-Inclusive Community

Newspaper article The Florida Times Union

Flagler Signs on to Build Nocatee Office Park; the Project Is Expected to Create 4,000 Jobs in the All-Inclusive Community

Article excerpt

Byline: DIANA MIDDLETON

Nocatee, an all-inclusive development designed to meet all the needs of its inhabitants, will add another piece of its live-work-play trifecta: a 675,000-square-foot office park.

Flagler Development Co., a Jacksonville-based real estate developer, paid $12 million for the 54 developable acres. The office park, which will eventually include four or five buildings, is expected to create approximately 4,000 jobs upon the completion of the build-out in 2015. The project is estimated to cost more than $100 million to develop and construct. The office space will be just west of the planned retail component being developed by Regency Centers, a local retail developer. Dubbed Nocatee Town Center, the retail complex just signed Publix as a primary tenant.

"We will be located within the central core of business and amenities," said Karl Hanson, Flagler's vice president and market officer for North Florida.

Flagler is the developer behind several Jacksonville office parks, including the Flagler Center off Old St. Augustine Road and the Office Centre at Southpoint near Butler Boulevard. Hanson said similar businesses to those found in Flagler's existing corporate parks - such as Web developers or auto companies - will likely wind up in the Nocatee development.

"The types of jobs we're expecting are corporate, such as regional headquarters offices," he said.

The first building's construction is slated for completion in late 2009 or early 2010. Typically, each office building is between 110,000 and 175,000 square feet, and each can be used by either one company or multiple businesses. A leasing rate has not been finalized, but prices will be calculated after the company completes its design in order to market the property to potential businesses. The design will include lavish landscaping and an outdoor lunch area.

Nocatee has billed itself as an all-inclusive, 14,000-acre community, complete with several neighborhoods of homes and condos, the aforementioned retail complex and now an office park.

It will also include several schools. Hanson anticipates the corporate park will employ a "significant" number of Nocatee residents, but he also expects employees to come from Ponte Vedra Beach and South Jacksonville, thanks to Nocatee's road infrastructure. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.