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Credit Union Buys Downtown Tower for $59M

VyStar Credit Union approached the ownership about its interest in the building at 76 S. Laura St. earlier this year and a purchase and sale agreement was signed within three weeks of the initial meeting between the buyer and seller.

Mainstreet Capital Partners and CarVal Investors LLC recently completed a three-year, $2-million renovation to the office tower. Mainstreet Capital Partners and CarVal Investors LLC recently completed a three-year, $2-million renovation to the office tower.

JACKSONVILLE, FL—VyStar Credit Union has finalized its purchase of the 23-story office tower on South Laura St. here for $59 million. The property sold for close to double the price it traded for three years ago.

Brokerage firm Colliers International reports that the property ownership did not have the tower, which was built in 1989, on the market for sale. VyStar Credit Union approached the ownership about its interest in the building at 76 S. Laura St. earlier this year and a purchase and sale agreement was signed within three weeks of the initial meeting between the buyer and seller.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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