Newspaper article The Florida Times Union

St. Joe Begins Construction of $100 M Campus Bombardier to Be Anchor Tenant

Newspaper article The Florida Times Union

St. Joe Begins Construction of $100 M Campus Bombardier to Be Anchor Tenant

Article excerpt

The St. Joe Co. launched development yesterday of an estimated

$100 million, 1 million-square-foot Southside office campus that

will be anchored by Bombardier Capital.

Bombardier, which said several weeks ago it was negotiating for

new buildings at St. Joe's Gran Park at Jacksonville, has

options to lease up to 500,000 square feet there -- half of the

new campus.

"We believe this is the main line corridor of growth in

Jacksonville," said David Fitch, senior vice president and

general manager of the St. Joe commercial and industrial

division.

The new campus will comprise about 100 acres of the 934-acre

Gran Park at Jacksonville, which sits south of Old St. Augustine

Road between Philips Highway and Interstate 95.

The first 38 acres of the new campus, fronting I-95, will have

three buildings, including the initial Bombardier structure,

said St. Joe spokesman Jerry Ray. The other two buildings still

are being planned, he said.

Bombardier plans to lease a five-floor, 125,000-square-foot

structure that will be completed next August, St. Joe and

Bombardier officials said yesterday.

After that, Bombardier expects to occupy three or four more

buildings over the next several years, pending economics and

needs, said J.F. Kiernan, Bombardier Capital group vice

president of automation and administration.

Bombardier Capital is the financial services arm of

transportation equipment manufacturer Bombardier Inc., based in

Montreal. Bombardier makes well-known recreational craft such as

Sea-Doos, Ski-Doos and Learjets, along with manufactured

housing and other recreational and transportation products.

Bombardier Capital is based in Colchester, Vt., and provides

financing and leasing for Bombardier products. It opened its

Mortgage Finance and Consumer Finance divisions in Jacksonville

last year.

Bombardier Capital now employs about 550 people in about

125,000 square feet of leased space at Gran Park at

Jacksonville. Kiernan said that Bombardier would move to the new

building but might retain some of its existing leased space as

needed. …

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