Flagler officials wouldn't disclose the length or value of the lease. But area brokers familiar with the South Jacksonville office submarket tell GlobeSt.com the lease at the four-year-old building is for at least five years at an estimated aggregate rent of $12.3 million, based on average asking rent of $20 per sf. Nuvell will move to its new regional quarters in April.

The previous tenant, whom Flagler officials wouldn't identify, negotiated an early lease termination in July 2002. "We were confident this building would not remain on the market for long," says Flagler president G. John Carey. "The building was completed for a single user and works extremely well for Nuvell."

Flagler Center, formerly Gran Park at Jacksonville, has been approved for 3.6 million sf of office, industrial and commercial space; as well as 469 acres for nature preserve and roadway right-of-way. The park currently consists of 773,000 sf of light industrial and office. Name tenants are Suddath Logistics, Bombardier Capital, Allstate Insurance, Website Pros, Beazer Homes and Nemours Foundation. Baptist Health plans to build Baptist Medical Center South at an undetermined date at Flagler Center.

Flagler Development broke ground in third quarter 2002 on a new interchange into the park at Interstate 95 and Old St. Augustine Road that will offer direct access into Flagler Center. "With the rapid residential growth in this part of Jacksonville, the I-95 Interchangeand other substantial infrastructure improvements under way, we are optimistic that there will be an increased need for future office buildings soon at Flagler Center," Carey says.

Monte Merritt of Advantis Real Estate Services Co. negotiated for Flagler. Chuck White of Commercial Jacksonville Co. represented Nuvell.