Two years after lenders foreclosed on the property, the Downtown 18-story BB&T Tower is going up for sale in an auction.
Transwestern Marketing said in a news release it has been retained by LNR Partners to market the property at 200 W. Forsyth St. The auction is May 29-31 on the online real estate auction site Ten-X, with bidding starting at $6 million.
“BB&T Tower now offers highly visible parapet signage and naming rights for large tenants and is expected to draw significant leasing interest from sizable office users,” Transwestern Managing Director John Bell said in the release.
The 285,487-square-foot building, opened in 1975, was 92 percent occupied four years ago but is now only 63 percent occupied.
The building was acquired by a group of lenders in 2016 after no one bid on the property in a foreclosure auction. Duval County Circuit Court records show the building’s owners became a partnership based in Miami Beach.
Ten-X said the owners spent $3.9 million for capital improvements on the building in the past year.
U.S. Bank, as trustee for the lenders, filed the foreclosure suit on the property in Duval County Circuit Court in 2014. The group owning the building at the time owed $32.4 million on the mortgage.
Property records show Norfolk, Va.-based Harbor Group International had bought the building for $30.05 million in 2007.
Transwestern also sold the One Enterprise Center directly across from BB&T Tower in 2017.