After an early fall analysis of its holdings, a Charleston, S.C.-based commercial brokerage and development firm has decided to sell one of downtown Wilmington’s tallest and most iconic structures.

Christian Chamblee, chief operating officer of Ziff Properties Inc., said Tuesday the firm has listed the Murchison Building with the Charlotte division of the CBRE Group – one of the largest commercial brokerage firms in the U.S. – to sell the building at the corner of North Front and Chestnut streets.

Chamblee said the building is on the market unpriced – a sign the firm may be looking for the best possible offer from a potential buyer, which could help Ziff officials sell the historic asset quicker, according to area brokers.

Chamblee would not comment about any offers the firm has received to purchase the structure. He added that the building was not currently under contract.

Ziff Properties acquired the 10-story, 61,000-square-foot Murchison office building in the mid-1990s. The firm’s Wilmington portfolio also includes The Village at Myrtle Grove shopping center in Monkey Junction and the Smith Creek Center near Wrightsboro, which Chamblee said are not being considered for sale.

Chamblee said while the firm plans to honor tenant agreements, parts of a $2 million renovation first announced in February might be put on hold pending the sale of the structure.

In September, Chamblee told the Greater Wilmington Business Journal that part of the site analysis with CBRE Group was to determine whether to move forward with the extensive makeover.

“We know the property could use a good shot in the arm, and with the analysis, we hope to determine whether it’s the best thing for us to complete or for someone else,” he said in September.

Chamblee said Ziff officials are still weighing their options. 

“Nothing has changed,” Chamblee said of previous plans to overhaul the building. “We are still trying to decide what we’re going to do. If we were to sell the building, it would close no more than 90-100 days, and some of those renovations could take longer than that.”

Chamblee said given the current market and interest in the site, officials hope to sell the building in the next 180-270 days.

“We’re responsive to the market,” Chamblee said of the Ziff Properties acquisitions and holdings. “When it’s time to buy, we buy; when it’s time to sell, we sell.”