FINANCED
First Horizon Bank Provides $39M Construction Loan For Jacksonville Jaguars' New Headquarters
1406 Gator Bowl Boulevard
Development Site
Financed 78 days ago
Summary
Loan
FLORIDA
Development Site
The Jacksonville Jaguars' new headquarters at 1406 Gator Bowl Boulevard in Jacksonville, has secured a $39,000,007 construction loan from First Horizon Bank. The loan, arranged by Philip Rachels and Jeff Kinney of CBRE's Jacksonville office, has a term of 10 years. The development site spans a total of 143,000 square feet and is a Class A office building. The Jaguars will occupy three floors of the building, with the remaining space available for lease.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $39,000,007
- Address: 1406 Gator Bowl Boulevard
- Market: Jacksonville
- Lender: First Horizon Bank
The loan was secured by CBRE's Philip Rachels and Jeff Kinney. It demonstrates optimism in the Jacksonville office market, despite the challenging office fundamentals. The building will serve as a headquarters for the Jacksonville Jaguars, with the team occupying three floors of the Class A office space. The remaining space will be available for lease to other tenants.
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Details
FINANCED
IMAGE: Philip Rachels & Jeffery Kinney
DATE: 02/14/2024
ADDRESS: 1406 Gator Bowl Boulevard
MARKET: Jacksonville
ASSET TYPE: Development Site ~ BSF: 143,000
LENDER: First Horizon Bank (@First_Horizon)
LANDLORD: Shad Khan - Iguana Investments - Shipyards Office, LLC
BROKERS: Jeffery Kinney & Philip Rachels - CBRE (@CBRE)
LOAN AMOUNT: $39,000,007
LOAN TYPE: Construction Loan
LOAN TERMS: 10 years
NOTE: CBRE Capital Markets secures $37.9 million construction financing for the Jacksonville Jaguars' new headquarters at 1406 Gator Bowl Boulevard, arranged by Philip Rachels and Jeff Kinney of CBRE's Jacksonville office, with a 10-year loan from First Horizon Bank. The Class A office building will house the Jaguars on three floors, with the remaining space available for lease, demonstrating optimism amidst challenging office fundamentals.View on map
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Address1406 Gator Bowl Boulevard
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