A seven-building office and flex campus just north of the Duval-St. Johns county line has a new look following a renovation. Savlan Capital has completed a multimillion-dollar overhaul of Flagler Center, adding amenities and move-in-ready suites as it courts a broader range of office, medical and flex tenants for the roughly 765,190-square-foot portfolio.
The renovation follows Savlan Capital's $52 million purchase of the Flagler Center and Lakeside Center properties in August 2025, according to bizjournals.com. The Hollywood, Florida-based real estate investment firm bought the seven buildings on 71.5 acres near the Duval-St. Johns County border, according to Savlan Capital. The portfolio includes Lakeside I, Lakeside II and Lakeside V in Lakeside Center, plus Flagler 100, Flagler 200, Flagler 300 and Flagler 400 in Flagler Center, per the same source. The deal closed just 30 days after the contract was signed.
The $52 million purchase price was covered entirely through five mortgages from Chicago-based Obra Capital, according to the Jacksonville Daily Record. Robbie McEwan and Hunter Smith of JLL represented the buyer, while Savlan represented itself in the acquisition. Savlan bought the properties from TD Bank, which had acquired them through a 2024 foreclosure, according to the Daily Record's reporting.
Occupancy Numbers Diverge on the Buy
Just how empty the campus was when Savlan took over depends on who's counting. Savlan Capital itself put the figure at 57.2 percent occupied at the time of purchase, citing COVID-era vacancies that had built up over recent years. A separate account from nyrej.com described the property as nearly 60 percent occupied at acquisition. Either way, the vacancy gap left Savlan with plenty of room to fill and a rationale for the renovation push that followed.
What Changed at the Campus
The Daily Record's reporting on the finished renovation lists an 80-seat conference center and electric vehicle charging stations among the additions, along with an upgraded fitness center, refreshed landscaping, and new monument and wayfinding signage. Savlan also reconfigured office space across the campus. A separate bizjournals.com snippet corroborates that the firm added an 80-seat conference center and electric vehicle amenities, though the fuller scope of that renovation has not been independently verified beyond what's been reported.
Much of the new construction is aimed at tenants who need to move fast. Savlan completed six move-in-ready suites ranging from 2,000 to 5,000 square feet on the first and third floors of Lakeside V, and started four additional suites on the second floor of Lakeside II, according to the Daily Record. The firm also set up an on-site management team led by Jacksonville NAI Hallmark and says it offers customized construction for tenants with specialized space requirements.
Medical Conversion Plans and Past Tenants
Savlan has said it plans to convert portions of the buildings into medical offices, according to Savlan Capital's own announcement of the acquisition. Flagler Center has previously counted HTS Logistics, Kimley-Horn, Ernst & Young, Pulte Homes, Siemens Mobility, United Healthcare Service and Total Quality Logistics among its tenants, per the Daily Record. Oliver Barakat, Billy Kuntz and Iv Stucker represent Savlan Capital in leasing the property, with Barakat saying Flagler Center delivers highly amenitized, move-in-ready space, the Daily Record reported. Zusha Tenenbaum said Savlan invested in amenities and shared spaces used by tenants across the campus.
A Property With a Complicated Recent History
Flagler Center's ownership has changed hands multiple times over the past decade. The portfolio was part of a $136 million sale to San Francisco-based Farallon Capital Management in 2018, according to the Daily Record's reporting. Flagler Center has seven buildings with roughly 760,000 square feet of office space. The Business Journal describes it as able to accommodate single-story flex, medical and multistory Class A office users, while CBRE lists spaces as available.
Whether the renovated campus can pull in enough new leases to meaningfully move the occupancy needle remains to be seen. Savlan Capital has said the portfolio is well-positioned to address current availabilities in the South Jacksonville market, and the company's move-in-ready suite program has generated tenant interest with leasing activity underway across multiple suites, according to the Daily Record's reporting. Current occupancy figures and the full extent of signed leases since the renovation's completion have not been independently verified.
