The seller was St. Joe Co. of Jacksonville, FL, the largestlandowner in Florida. St. Joe owns 14 acres adjacent to the plannedtower.
The building is scheduled to be completed in January 2003.Siebel Systems Inc., a California-based software developer, hassigned a long-term lease estimated for at least 10 years for195,000 square feet in the building.
The estimated value of the lease is $3.9 million per year or atotal $39 million based on an average asking rent of $20 per sf,area brokers tell GlobeSt.com. Pope & Land officials couldn'tbe reached at GlobeSt.com's publication deadline to learn furtherleasing details.
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