300 West Adams Street
Office | 34,781 SqFt
Marketing description
NAI Hallmark, as exclusive advisor, is pleased to present the sale of 300 W. Adams Street, Jacksonville, FL 32202 (the "Property"). Situated at the intersection of Adams Street and North Julia Street, the Property sits directly adjacent to the Duval County Courthouse, Federal Courthouse, and Jacksonville City Hall, making it one of downtown's most strategically positioned office buildings especially for law firms and government-facing tenants.
The Property is a six-story, 34,781 square foot building featuring distinctive historic architecture, 73 on-site surface parking spaces, and a ground-floor event space, a combination that is rare in this submarket and creates a meaningful competitive leasing advantage. It recently underwent $750,000+ in capital improvements including full bathroom remodels on each floor, and electrical and plumbing upgrades.
At 42.86% occupancy, the Property offers immediate lease-up upside with its smaller suite sizes well-suited to the law firm and professional office tenants. The opportunity is compelling across multiple buyer profiles: a law firm or professional office user seeking a headquarters, an owner-user looking to occupy and generate income, or a value-add investor pursuing repositioning or future development of the surface parking lot, all against the backdrop of $6.5 billion in active downtown Jacksonville development.
Investment highlights
- Ideal Urban Core Location Nearby Transformative Developments: Located in Jacksonville's downtown core, 300 West Adams is within walking distance to the County and Federal Courthouses as well as City Hall and other local government buildings. The property is also walkable to nearby restaurants, amenities and a Skyway stop. Just up the road, the massive $2B+ planned Pearl Square redevelopment project promises to bring residential density and commercial activity.
- Historic Property with Unique Architecture and Design: The Property features unique historic architecture and character, and offers event space on the first floor perfect for capitalizing on increased residential density in the Urban Core. It's smaller than average suite sizes are perfect for law firms and other professional offices, suiting a post-Covid office market that demands smaller footprints.
- Potential Redevelopment Opportunity & On-Site Amenities: The property features a convenient location for an on-site bank branch with drive-thru teller and surface parking lot, both rare in this submarket which creates a significant competitive leasing advantage. The parking lot could also serve as a potential value-add development opportunity in the future
- Vast Downtown Development Pipeline: There are currently $6.5 billion in major development projects in the pipeline for downtown Jacksonville. These include the Pearl Square (an expansive mixed-use project which includes apartments, retail, office, and a Publix grocery anchor), Four Seasons Hotel and Shipyards, the Stadium of the Future, and the UF Graduate Campus.
- Fast Growing Major Metro In Florida With No State Income Tax: This offering provides the opportunity to invest in the Jacksonville, FL MSA, which is benefiting from major population and employment growth. Jacksonville has consistently seen some of the largest increases in net population inflow in the entire country for the past several years and was named the #2 hottest job market in America by the WSJ in 2024.
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