U.S. Trust Bank of America Private Wealth Management is building out on the 36th floor at the Bank of America Tower Downtown at 50 N. Laura St.
It appears to be moving from the 32nd floor, where SunTrust Banks Inc. will relocate from the nearby tower it occupies but that has been sold to VyStar Credit Union.
The city approved a permit Jan. 25 for Marand Builders Inc. to renovate almost 2,000 square feet of space for U.S. Trust at a cost of $262,170.
As for SunTrust, the city is reviewing plans for the bank to build-out 15,529 square feet of space, which is the bulk of the 32nd floor of the 42-story high-rise, at a cost of $1.01 million.
The floor size is listed at almost 17,200 square feet. U.S. Trust now uses space on that floor.
SunTrust will move a block north from the SunTrust Tower at 76 S. Laura St.
It might not be SunTrust’s final home or name. SunTrust Banks Inc. and BB&T Corp. announced a merger Feb. 7.
The companies said they will develop a new name for the merged bank, which will be based in Charlotte.
SunTrust is based in Atlanta and BB&T is headquartered in Winston-Salem, North Carolina.
BB&T also has a major presence Downtown where its main local office is in the BB&T Tower at 200 W. Forsyth St.
Federal Deposit Insurance Corp. data show that SunTrust has 24 branches in the Jacksonville metropolitan area, the fourth-largest branch network in the market, and BB&T is the eighth-largest with 14 offices.
The combined bank will be the sixth-largest U.S. bank with $442 billion in assets, the companies said.
Norcal Mutual Insurance Co is moving into Town Center One at 5555 Gate Parkway.
The company, which sells health care professional liability insurance, will lease about 6,000 square feet on the first floor.
The city approved a permit for Brasfield & Gorrie LLC to build-out 5,214 square feet of space for Norcal at a cost of $653,639.
Availity LLC, a health care IT company, anchors the building, developed by VanTrust Real Estate LLC.
Availity leases about 105,000 square feet of the 160,000-square-foot Town Center One, taking the entire third through fifth floors and part of the first.
VanTrust Executive Vice President John Carey said about 12,000 square feet remains for lease in the building.
Norcal now leases 9,700 square feet of space in the Quadrant at Southpoint I building at 4651 Salisbury Road.
The city issued a certificate of use for Norcal in suite 150 at Town Center One.
Norcal has no comment.