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TMCNet:  Bank of America tower is for sale ; Wells Fargo, EverBank centers downtown also on the market [Florida Times Union]

[March 05, 2014]

Bank of America tower is for sale ; Wells Fargo, EverBank centers downtown also on the market [Florida Times Union]

(Florida Times Union Via Acquire Media NewsEdge) The Bank of America Tower downtown - the city's tallest building - is for sale. Jeffrey Morris, managing director of commercial real estate firm Jones Lang LaSalle, confirmed that he is representing owner Parmenter Realty Partners in marketing the building.


Morris said he couldn't say anything else about it - when it was listed, occupancy rate or price - but said that he will have some information next week. Parmenter, based in Miami, paid $75 million for the 42-story building in 1999.

It joins a crowded market of big buildings. Although the Aetna building on the Southbank sold in December for $55.5 million, both EverBank Center and Wells Fargo Center are also for sale.

Bob Selton, CEO of Colliers International in Jacksonville, which is marketing EverBank Center, said the recent listings are what he'd expect.

"We just went through one of the hardest times in American history from an economic standpoint," he said. "Nobody in their right mind would have sold then.

"Now it's time for these funds that own the buildings to sell. A lot of these aren't long-term-hold funds. And it's a good time to sell. Interest rates are down, tenants are moving it.

"Now's the time."Roger Bull: (904) 359-4296 (c) 2014 ProQuest Information and Learning Company; All Rights Reserved.

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