Studers to purchase SunTrust building in downtown Pensacola

April 12, 2017

Pensacola News Journal:

Quint and Rishy Studer could soon assume command of another substantial piece of downtown Pensacola real estate: the SunTrust Tower building at 220 W. Garden St.

The couple – whose endeavors in downtown already include the $52 million Southtowne apartment at 101 E. Romana St., an assortment of restaurants along Palafox Street and the Pensacola Blue Wahoos baseball team – have made an accepted offer on the SunTrust Tower to its owner, GNL Pensacola LLC. They now have a 45-day due diligence period, but the Studers expect no issues preventing them from closing on the property.

“We know the building quite well,” Quint Studer said. “We don’t foresee any problem with due diligence. We’ve done enough research that we’re pretty confident. We’re very excited and ready to go.”

The Studers intend to convert the first two floors of the building into a community center focused on solutions for the public and mental well-being. The floors comprise about 31,000 square feet combined. Though it will require an amount of reconfiguring, the building could eventually host lecture series, performing arts, conferences and outdoor film screenings where movies are projected onto the façade of the building.

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