"There is no formal asking price" at the moment, Manual DeZarraga, managing director of Sonnenblick-Goldman Co.'s Miami office, tells GlobeSt.com. "The owner is shifting its interest to Europe with the sale of this last property in the United States." Sonnenblick-Goldman is marketing the SunTrust Building.

DeZarraga estimates the replacement cost of the structure today is about $50 million or $210 per sf, an obvious buyer incentive. SunTrust Bank is the anchor with 68,216 sf. Other high-profile tenants are Deutsche Bank, Alex.Brown, HDR Engineering, the U.S. Attorney's Office and U.S. Customs Service.

Besides the replacement cost factor, DeZarraga notes the current interest rate environment could trigger a quick sale. "The low rates have created an environment in which exceptionally favorable debt is available to investors," DeZarraga tells GlobeSt.com. "The current rates, combined with SunTrust Building's strong tenant base and excellent location, make it an outstanding investment opportunity capable of producing very attractive yields."

The structure was built in 1975 and has been extensively renovated from 1994 to the present, DeZarraga says.

SB Jax sold its Orlando area office and industrial assets three years ago. Sonnenblick-Goldman also brokered those deals for the owner.