JACKSONVILLE, FL—The Freedom Commerce Center office park is getting a new look, feel—and name. Boca Raton, FL-based Crocker Partners has unveiled a new identity and capital improvement program to redefine its Jacksonville office park.
Located at the southwest corner of Baymeadows Road and Interstate 95 in Jacksonville's suburban Butler Corridor, the former Freedom Commerce Center is now known as Prominence. The name aims to reflect Crocker's confidence in Jacksonville's office market, its commitment to the property and long-term investment.
“Our company is committed to the long-term success of Prominence and it's our priority to make the necessary investment to redefine the park and restore it to its full potential,” says Tom Crocker, managing partner of Crocker. Crocker has also tapped Jones Lang LaSalle's (JLL) Kaycee Gardner, vice president, and Jesse Shimp, associate, to lead leasing efforts.
“We believe that JLL is the right partner to represent this asset, as we continue to invest in repositioning the property and attracting tenants that seek quality and competitively-priced office space that meets their business needs,” Crocker says. The office property is already home to Chase Bank, ING Financial Services, and Incomm, a prepaid product and transaction services company.
“Prominence provides tremendous potential and is centrally located in one of the most sought-after suburban markets in Jacksonville,” says Gardner. “With the strong Crocker Partners ownership in place and its commitment to make a bold statement with the park's redevelopment, we expect to attract tenants seeking value and efficiency in their office space.”
On the capital improvements front, Crocker, which acquired Prominence in December 2012, is investing several million dollars to upgrade the buildings and amenities. These improvements to the 54-acre property that includes seven buildings totaling 752,154 square feet of office space, aim to make the park more competitive with office space built east of Interstate 95 in recent years.
The multimillion-dollar capital improvements program includes adding a new entry feature and monument with tenant signage at the front entrance and making landscaping enhancements along the roads and individual buildings. Upgrades to all of the individual buildings will include a new façade for the lobbies, restrooms and elevator cabs, as well as installation of new lighting fixtures throughout the properties. Parking upgrades are also underway to increase the parking ratio up to eight spaces for every 1,000 square feet.
Crocker owns and operates more than 3.1 million square feet of real estate across Florida, including trophy assets such as Miami Center, Orlando University Center, and Two Harbor Place in Tampa. The company's portfolio includes more than 6 million square feet of office space in the Southeast U.S. and Texas, representing more than $1 billion invested. Crocker Partners also owns an 18-story class A office building in Atlanta named Prominence.
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