When the same powerful real estate firm works for the city on public property deals and then for private developers bidding on those same kinds of deals, the line between public and private interests can get blurry.

In Jacksonville, that firm is CBRE — the largest commercial real estate services company in the world. Over the past few years, CBRE has quietly become one of the most influential players in shaping what gets built (or sold) downtown.

Its dual involvement in local government work and private developer negotiations — most recently in the sale of the JEA headquarters campus — has raised serious questions about transparency, fairness, and whether Jacksonville has the right safeguards in place to protect the public’s interest.

CBRE’s Role as a City Consultant

The City of Jacksonville, through its Real Estate Division and the Downtown Investment Authority (DIA), holds an active contract with CBRE (Contract No. 10282).

Under this agreement, CBRE has been tasked with:

• Advising on redevelopment strategy for city-owned properties

• Providing broker opinions of value

• Helping draft and market RFPs and RFQs for downtown parcels

• Supporting the city in negotiations with private developers

CBRE played a notable role in The Ford on Bay redevelopment effort — advising on how the city should market and structure the site that once housed the old courthouse and city hall annex. The firm has also assisted in advisory work related to other downtown parcels, including portions of the riverfront, helping shape the city’s approach to land disposition.

In short, CBRE has effectively functioned as an insider real estate consultant for some of Jacksonville’s most valuable public land.

CBRE’s Role on the Buyer’s Side: “The Jewel at 21 West”

In early 2025, JEA began seeking bids to sell its former headquarters at 21 W. Church Street. The winning proposal came from Live Oak Contracting and Lone Pine Development, who plan to redevelop the site as “The Jewel at 21 West,” a mixed-use residential and retail hub in the heart of downtown.

Unlike other land sales, JEA did not hire a brokerage to list the property. Instead, it ran the process through its own procurement office. But one detail stands out:

That means the same firm advising the City of Jacksonville and the DIA on how to structure and market downtown land was also advising a private developer on how to acquire downtown land from a major public agency.

This dual role doesn’t necessarily break any laws. But it does raise questions that demand answers.

Why This Raises Red Flags

Even if all procedures were followed, CBRE’s dual role can create a perceived or real conflict of interest. Here’s why:

1. Inside Knowledge Advantage

CBRE has intimate knowledge of how the city approaches land deals, evaluates proposals, and sets priorities. Even if no confidential information changes hands, their familiarity with city strategy could give private clients an edge over competitors.

2. Trust and Public Confidence

Public assets like JEA’s downtown headquarters are supposed to be handled transparently and at fair market value. When insiders appear to be sitting on both sides of the table, it undermines public trust in the fairness of the process.

3. Weak Conflict Rules

Some cities require strict “cooling-off periods” to prevent consultants from switching sides. Jacksonville does not. That lack of guardrails makes situations like this more likely — and more damaging to public confidence.

4. The Stakes Are Enormous

The JEA headquarters site has a $30 million assessed value, yet was offered for just $1 million. Whether or not CBRE’s role influenced the deal, its presence adds fuel to an already controversial fire.

A Pattern, Not an Exception

CBRE’s involvement in Jacksonville isn’t limited to one project. The firm has appeared again and again in key transactions:

• Advisory role for the Ford on Bay site.

• Involvement in riverfront redevelopment strategy.

• Strategic partner for private development bids, including the JEA site.

This repeated presence in both public advisory roles and private development deals concentrates extraordinary influence in the hands of a single firm.

Why This Matters Now

Jacksonville is entering one of its most pivotal redevelopment periods in modern history. Projects like:

• Riverfront Plaza hotel proposal and land swap

• Gateway Jax and Pearl Street redevelopment

• UF Graduate Campus site selection

• The city’s remaining downtown parcels and incentive packages

…will shape the future of downtown for generations.

If the same firm is allowed to advise the city and private bidders without clear boundaries, the public’s interest can easily take a back seat to the interests of insiders and developers.

Policy Fixes Jacksonville Could Pursue

To restore trust and strengthen governance, the city could:

• Enact conflict-of-interest rules for contractors working with public land.

• Require full disclosure of firms that appear on both sides of transactions.

• Diversify the city’s real estate consultant pool to prevent concentration of power.

• Introduce a mandatory cooling-off period for city contractors.

• Bring more public oversight and ethics review into land disposition processes.

These aren’t radical steps — they’re standard in many other cities facing similar redevelopment pressures.

Conclusion: Transparency Builds Trust

CBRE’s expertise is not in question. The issue is whether one firm should wield this much power in both shaping and acquiring Jacksonville’s public land.

When city land is sold for pennies on the dollar and the same firm is visible on both sides of the deal, public trust erodes. And once that trust is lost, it’s hard to rebuild.

As Jacksonville charts the future of its downtown, stronger rules, clearer lines, and greater transparency are essential to ensuring that public assets serve the public good — not just those with the best access.

Sources: DIA Resolution 2019-08-07; City of Jacksonville Contract 10282; JEA RFP documents; Live Oak/Lone Pine “The Jewel at 21 West” proposal; Jax Daily Record reporting; City of Jacksonville procurement filings.