Financial Services Tech Firm Signs 107K Lease with New Building Owner in Jacksonville
The new lease deal was signed on April 19, two days after the office building was sold, according to Colliers International. The lease expands the company’s presence at the property from 73,005 square feet to 106,957 square feet.
JACKSONVILLE, FL— SS&C Technologies, Inc., a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries, has expanded its operations at the Gramercy Woods Building 700 building here that traded hands earlier this month.
A tenant at the office building at 900 Southside Blvd. since 2017, the Windsor, CT-based firm signed a 106,957-square-foot lease at the building, bringing the property to 100% occupancy. The new lease deal was signed on April 19, two days after the office building was sold, according to Colliers International. The lease expands the company’s presence at the property from 73,005 square feet to 106,957 square feet.
Chuck Diebel, Wade Powers, Matt Entriken and Bob Selton of Colliers International Northeast Florida represented the landlord, Glenfield Capital, LLC, in the transaction. Leon Manoff of Colliers International New York and Guy Preston of Colliers International Northeast Florida represented SS&C Technologies, Inc. in the deal.
Atlanta-based Glenfield Capital purchased the building, along with five other structures in the Gramercy Woods office complex, from Gramercy Property Trust, part of the Blackstone Group, on April 17 for $53 million. The portfolio includes two office buildings, two parking garages, a Bright Horizons child care and preschool center and a vacant 22,000-square-foot building. Over the next five years, Glenfield Capital plans to make enhancements to the properties, Colliers states.
“Jacksonville’s Southside submarket offers everything people want today in its quality of life, workplace environment and entertainment spaces, making it a sound investment for our firm,” says James Cate, founder and Managing Principal of Glenfield Capital. “We’re thrilled to have a high-quality company like SS&C Technologies continue to grow and commit long term to our property.”
Colliers’ Diebel adds, “The Southside submarket has seen robust activity in Northeast Florida’s office market, making it a great investment for Glenfield Capital. Our team is excited to continue to handle leasing for the property going forward.”
SS&C Technologies, which was founded in 1986, has offices across the United States and around the globe. Approximately 18,000 financial services and healthcare organizations manage and account for their investments using SS&C’s products and services.
On Monday, SS&C Technologies Holdings, Inc. announced a Cook County Illinois Jury found Clearwater Analytics liable for stealing SS&C’s trade secrets. Further, as part of the $44 million in damages, the jury awarded $28 million in punitive damages for Clearwater Analytics “willfully and maliciously” stealing SS&C’s trade secrets, SS&C Technologies reported. The judgment remains subject to post-trial motions and appeal.
Commenting on the case SS&C chief executive, Bill Stone, said, “After three and one-half years the U.S. justice system once again punishes bad behavior. We spent a lot of money and the case took lots of time. All of us find it gratifying that justice was done.”