Jacksonville, Florida, February 11, 2026
Intercontinental Exchange Inc. (ICE) has acquired the 52.23-acre Merrill Lynch Deerwood Park North campus in Jacksonville, Florida, for $42 million. This acquisition will serve as the headquarters for ICE’s Mortgage Technology division, aiming to create 500 new jobs while retaining 1,500 existing jobs from Black Knight. The property includes extensive office space capable of supporting at least 2,600 workers. The city council has backed this strategic expansion with tax incentives, emphasizing Jacksonville’s growing role in the financial and tech sectors.
Jacksonville, Florida: ICE Expands Operations with New Office Acquisition
Jacksonville, Florida – Intercontinental Exchange Inc. (ICE), the operator of the New York Stock Exchange, has expanded its presence in Jacksonville by acquiring the 52.23-acre Merrill Lynch Deerwood Park North campus from Bank of America for $42 million. This acquisition is part of ICE’s plan to establish the headquarters for its Mortgage Technology division in the city, a move announced in December 2024. The purchase was finalized on January 13, 2025, and the property was acquired through ICE Mortgage Technology Holdings Inc. The seller was Bank of America National Association.
The Deerwood Park North campus comprises two properties divided by a lake. The 32.98-acre parcel at 4800 Deer Lake Drive E. includes three office buildings totaling 464,645 square feet and a 186,500-square-foot parking garage. The 19.25-acre parcel at 4803 Deer Lake Drive W. features a 125,918-square-foot office building and a 166,132-square-foot parking garage. This substantial space is expected to accommodate at least 2,600 workers, surpassing ICE’s commitment to retain the existing 1,500 Black Knight jobs in Jacksonville and create an additional 500 over seven years.
In December 2024, ICE announced plans to invest at least $173 million to locate the headquarters of its Mortgage Technology division in Jacksonville. This strategic move follows ICE’s acquisition of Jacksonville-based Black Knight, a software, data, and analytics company serving the housing finance market, for $11.9 billion in 2023. The Jacksonville City Council supported this initiative by approving $21 million in property tax refunds and cash grants for the project, code-named Project Paper Company.
Bank of America has been preparing to potentially vacate the Deerwood Park North campus. The city is reviewing permits for Bank of America to relocate a Merrill Lynch bull statue from the campus at 4800 Deer Lake Drive E. to the bank’s campus 6 miles south at 9000 Southside Blvd. Bank of America has been consolidating, expanding, and upgrading its operations campus in the Gramercy Woods office park north of The Avenues mall.
This acquisition underscores Jacksonville’s growing appeal as a hub for financial and technological enterprises, reflecting the city’s ongoing economic development and the strategic importance of its real estate assets.
Frequently Asked Questions (FAQ)
What is the significance of ICE’s acquisition of the Deerwood Park North campus?
The acquisition allows ICE to establish the headquarters for its Mortgage Technology division in Jacksonville, supporting its expansion plans and commitment to creating new jobs in the area.
How many jobs is ICE expected to create in Jacksonville?
ICE has committed to retaining 1,500 existing Black Knight jobs and creating an additional 500 jobs over seven years in Jacksonville.
What is the history of the Deerwood Park North campus?
The campus comprises two properties divided by a lake, with office buildings and parking garages totaling over 700,000 square feet. It was developed by Merrill Lynch in the early 1990s.
What is the relationship between ICE and Black Knight?
ICE acquired Jacksonville-based Black Knight, a software, data, and analytics company serving the housing finance market, for $11.9 billion in 2023.
What is the status of Bank of America’s operations at the Deerwood Park North campus?
Bank of America is preparing to potentially vacate the campus, with plans to relocate a Merrill Lynch bull statue to its campus at 9000 Southside Blvd. The bank has been consolidating and upgrading its operations in the Gramercy Woods office park.
Key Features of ICE’s Jacksonville Expansion
| Feature | Details |
|---|---|
| Acquisition | 52.23-acre Merrill Lynch Deerwood Park North campus purchased for $42 million. |
| Job Creation | Commitment to retain 1,500 existing jobs and create 500 new jobs over seven years. |
| Investment | At least $173 million investment in establishing the Mortgage Technology division headquarters. |
| Property Details | Office buildings and parking garages totaling over 700,000 square feet. |
| Bank of America’s Plans | Preparing to vacate the campus and relocate operations to Gramercy Woods office park. |
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Author: STAFF HERE JACKSONVILLE WRITER
The JACKSONVILLE STAFF WRITER represents the experienced team at HEREJacksonville.com, your go-to source for actionable local news and information in Jacksonville, Duval County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Jacksonville Jazz Festival, Riverside Arts Market, and World of Nations Celebration. Our coverage extends to key organizations like the Jacksonville Chamber of Commerce and JAXUSA Partnership, plus leading businesses in logistics, healthcare, and entertainment that power the local economy such as CSX Corporation, Baptist Health, and VyStar Credit Union. As part of the broader HERE network, including HEREOrlando.com, HEREStPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
