$88M bought 3 Downtown buildings

Thursday, July 17, 10:10 AM EDT

By Karen Brune Mathis, Managing Editor

Santa Monica, Calif-based Hertz Investment Group acquired a five-floor, almost 42,000-square-foot office building at 135 W. Bay St., next to the tower, and a nine-story, 93,000-square-foot parking garage at 25 W. Forsyth St.

Hertz Investment Group Executive Vice President James Ingram said Wednesday the West Bay Street building is attached to the tower and is occupied by Florida Bank.

Ingram said the West Forsyth Street garage provides an additional 650 parking spaces for the tower. He said the parking is strictly for Bank of America Tower tenants.

Hertz bought the structures from Jacksonville Tower Associates LLC, which is Parmenter Realty Partners of Miami.

The 696,672-square-foot Bank of America Tower at 50 N. Laura St. is Jacksonvilles tallest office building. It includes a parking garage within the structure.

The sale of the buildings was recorded Wednesday with the Duval County Clerk of Courts.

JPMorgan Chase Bank issued an almost $51.9 million mortgage Friday to Hertz Jacksonville for the three buildings.

The market value for the three buildings totals almost $74.7 million, comprising $71.2 million for the tower, $2.11 million for the adjacent office building and $1.37 million for the garage, according to the Duval County Property Appraiser.

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$88M bought 3 Downtown buildings