YMCA Takes 20,892 SF at Flagler Center 200

JACKSONVILLE, FL-Flagler Development Co. has brought its seven-year-old, 61,837-sf Flagler Center 200 building to 84% occupancy with the signing of an estimated five-year lease to YMCA of Florida’s First Coast for 20,892 sf.

The tenant will use 11,231 sf for a wellness center and the balance for office space, according to Flagler officials. The wellness facility is expected to open by Dec. 1. “This fast-growing area needed a class A wellness operation,” says Flagler president John G. Carey. The building at 12735 Gran Bay Parking is near the new Baptist Health South hospital at Flagler Center and the new interchange at Interstate 95 and St. Augustine Road.

Flagler senior leasing director Ross Carrier represented his firm in the lease transaction. YMCA officials negotiated for their group. Flagler officials declined to disclose the length and value of the lease. However, area brokers familiar with the submarket tell GlobeSt.com the lease was probably for five years at an estimated aggregate value of $1.14 million. The asking average gross rent range at the building is $11 to $13 per sf, a Flagler representative confirms.Locally based Flagler Development Co. owns, leases and manages about 7.6 million sf of class A office and industrial space in Florida. The company has 680,000 sf under construction. Flagler’s space consists of class A office and industrial properties, primarily in Jacksonville, Orlando, Fort Lauderdale and Miami.

Flagler also owns 752 acres of entitled land in Florida which is available for development of up to an additional 10.9 million sf and about 2,511 acres of other Florida properties.