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Kuhn Enters Jacksonville Office Market With $37M Buy

JACKSONVILLE, FL-Developer Cameron Kuhn pays Capital Partners Inc. $96.10 per sf for the 385,000-sf SunTrust Tower Jacksonville Center. Kuhn has developed and redeveloped a total one million sf of Downtown Orlando office properties in the past 10 years.

By Alex Finkelstein | Updated on September 28, 2005

JACKSONVILLE, FL-Cameron Kuhn, a former Chicago homebuilder who entered Orlando office investment circles 10 years ago, is waving his development wand at Jacksonville where he has purchased his first Duval County asset, the 385,000-sf SunTrust Tower Jacksonville Center. The 23-story building is at 76 Laura St.

Kuhn paid Orlando-based Capital Partners Inc. $$37 million, or $96.10 per sf, for the 50%-leased property which has only two tenants–SunTrust Bank, occupying 72,404 sf on 4.5 floors, and Humana Health Care which leases two floors. Kuhn says he plans to rename the property River Watch at City Centre to tie in better with Jacksonville’s ongoing Downtown redevelopment program.

“We believe Downtown Jacksonville, under the leadership of Mayor John Peyton, has the same potential as Downtown Orlando,” Kuhn says. “What we have planned for River Watch at City Centre will change Downtown Jacksonville and the riverfront, and ignite a new generation of Downtown Jacksonville places and opportunities. We want to be a part of that.”

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