CBRE and Group RMC Announce New Leases at Bank of America Tower in Downtown Jacksonville

CBRE has facilitated two new leases at the Bank of America Tower in downtown Jacksonville. Oliver Barakat and Pat Orman with CBRE represented ownership, Group RMC, in lease negotiations.

Franklin Street has signed a lease for 4,293 square feet. The Tampa-based commercial real estate firm will relocate from 1611 Atlantic Blvd. and occupy space on the 16th floor in March 2023.

Fogle Art Consulting has signed a lease for 1,019 square feet on the ground floor for the brand's retail location, The Creative Exchange, which will showcase a curated selection of locally made products. The Creative Exchange is slated to open November 2022.

“The new leases at the Bank of America Tower are examples of businesses in growth mode looking for space in Downtown’s north bank that will accommodate them as they expand in the market,” said CBRE Senior Vice President Barakat.

The Bank of America Tower is the tallest building between Atlanta and Miami. The 42-story tower is located at 50 North Laura Street in Jacksonville’s Central Business District. It features 24-7 security, an on-site coffee bar, deli, two bank branches, and conference center.

Earlier this summer all new furniture, artwork, and lighting were installed in the Bank of America Tower building lobby. Additionally, the property is undergoing an elevator modernization plan, and Group RMC is considering plans to leverage amenity and communal spaces in the building.

Mr. Barakat added, “Moving forward from the pandemic, landlords and tenants are ‘magnetizing’ the office to serve as a destination that provides access to colleagues and services not available in other venues. The property’s strong leasing activity is a testament to the investments being made by Group RMC to improve the building.”

According to CBRE Research, Jacksonville continues to see a flight to experience with small to large-sized tenants returning to the office and competing for employees. This has firms looking for high class amenities both within and outside of their space, from fitness centers, updated lobbies and outdoor spaces to large conference rooms, focus and huddle rooms in order entice employees back to the office.