According to Charles Malet, Shorenstein's national leasing director, several tenants are bidding for the 30,000-sf office space, which includes spectacular views of the City through floor-to-ceiling windows. The Shorenstein Co. hopes to nab $115 per-sf, according to Malet. "555 California Street is clearly one of the premier office properties in the United States, and the San Francisco office market is particularly strong right now," said Doug Shorenstein, Chairman and CEO of Shorenstein Co.

It was not disclosed when the San Francisco-based leasing, management and construction services firm might give up its 49th floor headquarters located at 555 California St. The company will share its new floor location with Morgan Stanley Dean Witter & Co, which previously operated out of the 14th floor.

The Shorenstein Co., one of the Bay Area's most active commercial developers, owns the 1.8 million-sf Bank of America Center in downtown San Francisco, and has a 450,000-sf office building under development at City Center in Oakland. All told, it currently owns and operates a national office portfolio consisting of 25 million-sf.