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Jax Daily Record Monday, Jan. 7, 201910:50 AM EST

The Mathis Report: SunTrust's Downtown build-out tops $1 million

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The bank is renovating space in the Bank of America Tower, where it will move its Jacksonville offices this summer.

SunTrust Banks Inc. is making its initial moves to relocate from the Downtown tower that bears its name into the nearby Bank of America Tower.

The city is reviewing plans for SunTrust 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. The space now is occupied by U.S. Trust Bank of America Private Wealth Management.

Called the SunTrust financial center on some of the plans, the space will comprise offices, open office space, conference rooms, a “social center” break room and other functions.

SunTrust will move a block north from the SunTrust Tower at 76 S. Laura St. to the Bank of America Tower at 50 N. Laura St.

The building plans do not show a ground-floor SunTrust retail banking office with tellers.

Spokesman Michael McCoy said the bank has not made any announcements related to new branches in that specific area. He said a listing of Jacksonville area offices are on the branch locator on suntrust.com.

Jacksonville-based VyStar Credit Union bought the SunTrust Tower last summer and intends to move its headquarters into the 23-story building this year.

In November, the CBRE Inc. real estate company announced in an email that SunTrust negotiated a lease for about 18,000 square feet of space in the Bank of America Tower.

Atlanta-based SunTrust spokesman Hugh Suhr said in November that he could confirm the move and the size of the lease but declined additional comment.

VyStar President and CEO Brian Wolfburg said in June that SunTrust leased about 65,000 square feet until it sublet space to Jacksonville University, “which is one of the tenants that we plan to retain.” SunTrust will drop to about 35,000 square feet, he said.

 The SunTrust lease expires at the end of July, and its sign is expected to come down by then.

The city Downtown Development Review Board is expected to consider final approval Thursday of two signs with VyStar’s name and logo.

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