Jacksonville, FL Office Overview
The city is home to the third-largest military presence in the country, right behind San Diego and Norfolk, Va. With a gross metropolitan product of over $68 billion annually, there is strong demand for Class A space in the area. Nearly 64% of the office space in Jacksonville is Class A or A+, with Class B product adding an additional 35% of inventory to the market.
Jacksonville city proper includes the Downtown Jacksonville, Jacksonville Beach, Riverside and Brooklyn submarkets. With a metropolitan population of nearly 1.5 million people, the local economy is largely driven by the defense and transportation sectors.
Jacksonville, FL Office Inventory Description
As of mid-2017, the Greater Jacksonville office market encompasses over 28 million square feet of existing office space in properties larger than 50,000 square feet. Located in Northeastern Florida, Jacksonville is the third-largest seaport in the State of Florida and is the financial center of North Florida
The local market includes properties such as the Wells Fargo Center, EverBank Center, and the One Enterprise Center at 225 Water Street.
Jacksonville, FL Commercial Inventory Breakdown
Office Spaces
Total: 36,313,226 SF
By square footage range:
- 50k to 100k SF: 7,524,245 SF / 20.72% of total office
- 100k to 500k SF: 23,654,056 SF / 65.14% of total office
- 500k to 1M SF: 5,134,925 SF / 14.14% of total office
By class:
- Class A: 19,194,696 SF / 52.86% of total office
- Class B: 14,261,358 SF / 39.27% of total office
- Class C: 879,186 SF / 2.42% of total office
Top 10 Largest Office Buildings
in Jacksonville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| EverBank Center | 301 West Bay Street, 32202 | 956,201 | 1983 |
| Bank of America Tower | 50 North Laura Street, 32202 | 724,852 | 1990 |
| 701 San Marco Blvd | 701 San Marco Blvd, 32207 | 658,822 | 1985 |
| Wells Fargo Center | 1 Independent Drive, 32202 | 648,313 | 1975 |
| Eight Forty One | 841 Prudential Drive, 32207 | 593,185 | 1955 |
| Blue Cross Blue Shield Building | 532 Riverside Avenue, 32202 | 550,000 | 1950 |
| 14000 Citicards Way | 14000 Citicards Way, 32258 | 503,552 | 2004 |
| The Shipyards Jacksonville | NEC Franklin Street & East Adams Street, 32202 | 500,000 | n/a |
| 601, 661 Riverside Avenue & 561, 599 Computer Power Place | 601 Riverside Avenue, 32204 | 475,986 | 1952 |
| 4800 East Deer Lake Drive | 4800 East Deer Lake Drive, 32246 | 452,873 | 1992 |
Most Recently-Built Office Buildings
in Jacksonville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Web.com Corporate Headquarters | 5335 Gate Pkwy, 32256 | 217,877 | 2019 |
| Southside Quarter - Building 1 | 6651 Gate Pkwy, 32256 | 123,829 | 2019 |
| Town Center One | 5555 Gate Pkwy, 32256 | 161,224 | 2018 |
| The Offices at Flagler Center | 12574 Flagler Center Blvd, 32258 | 50,010 | 2018 |
| 14701 Philips Hwy | 14701 Philips Hwy, 32256 | 45,000 | 2018 |
| Hodges Commons | 4796 Hodges Blvd, 32224 | 25,884 | 2018 |
| Baptist North Medical Campus | 11236 Baptist Health Drive, 32218 | 58,000 | 2016 |
| 10426 Alta Drive | 10426 Alta Drive, 32226 | 50,671 | 2016 |
| Fremount Business Center | 7768 Ozark Drive, 32256 | 28,870 | 2016 |
| Jessie Ball duPont Center | 40 East Adams Street, 32202 | 128,375 | 2015 |
Jacksonville, FL Green Office Space
Through mid-year 2017, nearly 38% of the commercial office buildings that are larger than 50,000 square feet are classified as green or energy efficient buildings. Back in 2005 this percentage was less than 5%, showing a marked increase in just a few years.
The 2017 National Green Building Adoption Index surveyed the top 30 U.S. markets for energy efficient properties. To date, Jacksonville hasn't yet made the list, but with numerous LEED certified projects underway both the availability and demand for green office property in the city is growing.
One example of an energy efficient, LEED-certified office building is Waterview I & II on Deerwood Park Boulevard. Located in the Deerwood neighborhood of the city, with nearly 170,000 square feet of space this Class A office property was built in 2002 and was awarded a LEED Silver certified rating.
Jacksonville, FL's Top Office-Using Sectors
Local demand for office space and commercial real estate is driven by an energetic mix of business and industry including banking & financial services, transportation & logistics, defense, and Fortune 500 companies.
- Banking & Financial Services – EverBank, America Bancorp, Atlantic Coast Financial, and VyStar Credit Union are a few of the financial service businesses that generate demand for white collar employment here.
- Transportation & Logistics – CSX Corporation and RailAmerica are just two examples of businesses that benefit from the city’s seaport and the shipping hub of the Jacksonville International Airport.
- Defense – Demand is also driven by the countless businesses that service the Naval Submarine Base, the Naval Air Station, and the Naval Station Mayport.
- Fortune 500 Headquarters – Demand for Class A space is also created by the numerous corporate head offices in the city, including Fidelity National Financial, Interline Brands, and Southeastern Grocers.
Jacksonville Demographics
Population
- Total Population867,313
- Male Population(48.4 %) 419,756
- Female Population(51.6 %) 447,557
- Median Age35.80
Income/Financial
- Average Household Income$68,733
- Median Household Income$50,555
- Median Income Under 25$28,807
- Median Income 25-44$52,711
- Median Income 45-64$59,367
- Median Income Over 65$39,336
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