The Dalton Agency is looking to sell its Downtown office space.

Ashley Gurbal Kritzer
Reporter- Jacksonville Business Journal

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The Dalton Agency’s prominent office building off of Hemming Plaza is on the market with a $4.2 million asking price.

The building at 140 W. Monroe St., owned by three of the four partners of the agency under a separate corporate entity, was listed for sale after the partners received several inquiries, said executive vice president Michael Munz. Most of them came from people who planned to use it as an office building. 

“Any time people start to look at your real estate, you start to think, ‘Is this the right time or right opportunity?’” he said.

Duke Addison, principal of Addison Commercial Real Estate Inc., is the listing agent for the building, which is 30,000 square feet and built in 1951.

Munz said the agency is not in financial need and is not selling the building to generate cash.

However, the listing says the building could be viewed as an investment deal, with Dalton staying on as a long-term tenant. 

Munz, David Josserand and James Dalton paid $4.2 million for the building in 2008 — the same amount as the asking price — and renovated it, although Munz would not disclose how much the partners put in to the building.

“You can do the math, but I’m not going to disclose any of our renovation or other costs related to the math,” Munz said.

If a deal that would require the agency to move came to fruition, Munz said, the business would stay Downtown. He said he wasn’t concerned about losing the bright orange signage or prominent location off Hemming Plaza.

“The building is a building,” he said. “The Dalton Agency was a strong brand before this building and will continue to be after.”

Ashley covers real estate, hospitality and retail