SunTrust is leaving the signature 23-story structure at 76 S. Laura St. for space in the nearby Bank of America Tower.
CBRE announced in an email Thursday that SunTrust negotiated a lease for 18,000 square feet of space in the 42-story Bank of America Tower at 50 N. Laura St.
VyStar Credit Union bought the SunTrust Tower in July and intends to move fully into the building when the SunTrust lease expires in July 2019.
The new location appears to be for almost half of the space it had been using.
Brian Wolfburg, president and CEO of VyStar Credit Union, said previously SunTrust had leased 65,000 square feet and then sublet 30,000 square feet to Jacksonville University, lowering the bank’s space to 35,000 square feet.
CBRE Senior Vice President Oliver Barakat, who represented SunTrust in the lease at the Bank of America Tower, said Friday he was asked by SunTrust not to comment on the transaction.
Hugh Suhr, SunTrust Technology, Consumer Banking & Private Wealth Management representative, said by email that “I can confirm the move and size of the lease but we’re going to decline any comment beyond the release issued.”
He confirmed a lease size of 18,100 square feet.
VyStar Credit Union paid $59 million in July for the 358,278-square-foot SunTrust Tower with an adjacent 612-space parking garage. It bought the property from Mainstreet Capital Partners.
VyStar plans to move its headquarters staff of 700 into the building by the end of July. Wolfburg said previously he hopes to have some people in by year-end.
VyStar plans to occupy 11 floors at the renamed VyStar Tower, including an executive floor on the 20th story. An employee lounge, co-work space and other employee benefits and amenities will be on the 22nd and 23rd floors.