JACKSONVILLE, Fla. – Changes could be coming to one of the most recognizable parts of Jacksonville’s downtown skyline.
According to The Daily Record, the Wells Fargo Center is now on the market. That could mean undergoing some big changes. It’s unclear if a new name would be included in a potential sale but according to The Daily Record, the Wells Fargo Center’s owners have a few options: to sell, invest in or keep the building.
The executive director for Colliers International, a global real estate agency, told The Daily Record the building’s occupancy rates have dropped over the years. To get those numbers back up, he said investment in it is needed.
Records from the Duval County Property Appraiser’s website show its assessed value is more than $54 million. Property records show it was last sold five years ago, for a little more than $75 million. It originally cost $42 million.
This wouldn’t be the first iconic building to change hands this year. Some may remember when the Sun Trust building recently became Vystar Tower.
The Wells Fargo Center, formerly “Independent Square” and later the Modis Building, was Florida’s tallest tower when it was built in 1975.
Today, it includes 650,000 square feet of rentable space, the River Club on the top two levels and underground parking.