Trizec bought the building, located at 222 Lakeview Ave., in February 1998 for $39.5 million and has plugged an additional $3 million into it since that time. The average asking rent for available space in the building ranges from $21.50 per sf to $28 per sf. Floor sizes range from 10,000 sf to 24,000 sf.

"There is going to be some significant bidding," Rick Matthews, senior VP of public relations for Trizec Properties, tells GlobeSt.com. "It's a class A, trophy-quality building."

According to Matthews, the Esperante property, in the city's central business district, no longer fits the company's strategic plans. "Our core strategy is to concentrate our national portfolio into our core markets," which are New York, Atlanta, Chicago, Houston, Dallas, Los Angeles and Washington, D.C. Just under 20% of Trizec Properties' portfolio is in markets other than those seven, "and we want to reduce that over time," he explains.