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Real Estate
Bank of America tower in Downtown
Jax Daily Record Thursday, Jun. 12, 201412:00 PM EST

Sources: Bank of America Tower under contract, may sell by July


Real estate sources say the 42-story Bank of America Tower Downtown is under contract and the sale could be completed in July, pending due diligence by the unidentified buyer.

Four sources familiar with the deal, who asked not to be identified because they are not authorized to talk about it, said Tuesday the tower at 50 N. Laura St. could be sold in a month. Two said they know the identity of the buyer but could not reveal the name.

The tower has been for sale at least since February.

The tower was built in 1990 and has more than 700,000 square feet of space. Its 2014 market value in progress is $73.6 million. It last sold in 1999 for $74.7 million.

All three of the landmark Northbank Downtown towers for sale could change hands by the summer. The Wells Fargo Center is expected to be sold within a month, as previously reported. EverBank Center is for sale as well, but the tower representative said there was no news yet about a sale.

Jeffrey Morris, managing director of the Capital Markets Group for JLL Americas Inc., is representing the Bank of America Tower. He said Wednesday he cannot comment.

As of April, Cushman & Wakefield of Florida research showed the Bank of America Tower was about 68 percent occupied.

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