The Jacksonville Jaguars are making progress on their new offices at the Shipyards. PCL Construction has applied for a permit on behalf of the team, with plans to invest over $40 million in a six-story, 131,000-square-foot building. The costs for each floor’s build-out will be determined at a later date.
According to the Jacksonville Business Journal, team owner Shad Khan’s Iguana Investments secured a mortgage of $37.9 million from First Horizon Bank for this project. This development will allow some of the team’s operations to move out of their current stadium location. The Jaguars have leased three floors in the building and two additional floors are available for lease by other tenants. A portion of the first floor will also be leased by an affiliate as a fitness facility. In March 2023, this land was purchased from the city by an affiliate company for $3.2 million.
This article was originally published on Connect CRE.
