JACKSONVILLE, FL—EverBank Center is up for sale. El-Ad National Properties has decided to exit the Downtown Jacksonville market. CBRE is the exclusive sale advisor for the asset. CBRE senior vice presidents Michael Harrell and Louis Nutter are marketing the office tower.

Formerly known as the AT&T Tower, the EverBank Center changed its name when EverBank Financial Corp inked a 269,000-square-foot lease agreement. EverBank will begin moving its 1,500 employees from various office buildings in Jacksonville to the 30-story tower in July. Located at 301 West Bay Street, EverBank Center spans 956,201-square-feet, making it the largest in Downtown Jacksonville. The asset is 67% leased.

“We’ve not seen a lot of trades downtown or otherwise in the market,” Harrell tells GlobeSt.com. “Many of the properties here are in the hands of a few. We have several big REITs that own quite a large portfolio here.”

Indeed, the last major office trade in Downtown Jacksonville was One Enterprise Center, which sold for $51 million in 2008. One Enterprise Center is directly across the street from EverBank Center, and about one-third of the size.

Harrell admits the sheer size of the building may narrow the investor field. But he expects institutional investors, large and value-added funds, as well as some private capital sources to take interest in the tower.

“We have a brand new Duvall County Courthouse opening across the street in May,” Harrell says. “It’s right across the street from EverBank Center and shifts the landscape downtown rather dramatically.”

The floorplates may also be attractive. The average floor plate spans about 33,000 square feet in EverBank Center and it’s ringed by public and privately-owned parking garages. The asset also includes a 641-space parking garage.

“The combination of the opening of the courthouse and the fact that EverBank is repopulating the building should be a draw for other tenants that need to be in close proximity to that bank,” Harrell says. “It should also draw law firm and others who need quicker assets to the courthouse, the clerk of the courts, the states attorneys offices, all of that is moving to the new courthouse.”