At the Duval County School Board’s meeting on December 9, 2024, members approved a five-year contract with Trinity Commercial Group (TCG) to assist with the district’s real estate transactions as part of its Five-Year Capital Plan. The partnership aims to support the district’s efforts to buy and sell properties, including potentially selling the district’s administration building on the St. Johns River.
Superintendent Dr. Christopher Bernier explained that selling the administration building is a consideration due to the increasing development in the Southbank area. The sale could generate funds for classroom support and increase the district’s reserve funds while fostering economic growth in Jacksonville.
“We believe this approach is fiscally responsible for our taxpayers, our district, and our community,” said Dr. Bernier, referencing the property’s growing market value due to nearby commercial and residential development.
The district has attempted to sell the building in the past, but prior efforts, including hiring a consultant, were costly and unsuccessful. The previous strategy involved a high price to the district, with additional leasing costs for a new location. The new approach with TCG will provide the district with a more cost-effective solution, as TCG will only be paid based on commission from successful transactions.
TCG, a Florida-based commercial real estate firm with a Jacksonville office, was chosen after a competitive process that began in September. The firm, experienced in working with school districts and government entities, will assist the district in buying and selling properties, as well as identifying new land. TCG’s compensation is tied solely to successful sales, with no fees for advisory services or other transactions.
While the potential sale of the administration building remains uncertain, Dr. Bernier emphasized that the district is committed to making decisions that serve the best interests of the district, taxpayers, and students. The next steps include developing a plan for the possible relocation of the district’s administrative operations.
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