Search
 

BofA Renews, Shrinks at Transamerica

SAN FRANCISCO-Bank of America NA re-ups for 180,000-sf within the Pyramid, which is about three floors less than it currently leases.

By Brian K. Miller | Updated on January 23, 2007

SAN FRANCISCO-Bank of America NA will stay in Transamerica Pyramid at least through 2014 but will have a smaller presence in the building going forward. The bank inked a five-year renewal that commences in 2009 for low- and mid-rise space in the building. As part of the deal, it will give back three floors that is currently leases.Banc of America Securities uses the space for its banking business and trading floor and is the largest tenant in the landmark building. The predecessor to Banc of America Securities, Montgomery Securities, has been in the building for nearly two decades. The latter became the former following the 1998 acquisition of NationsBank, which had acquired Montgomery Securities in 1997, by BankAmerica.

David Churton, Mike Whittington and Jeff Criswell of Jones Lang LaSalle represented Bank of America in the Transamerica lease renewal. Sean Ohno of Lowe Enterprises and Dick Robinson of Cushman & Wakefield represented the landlord.

Cushman & Wakefield was chosen to replace Lowe Enterprises as the property and leasing manager of Transamerica Pyramid in September following a competitive bidding process. Lowe apparently had initiated renewal negotiations with BofA prior to being replaced.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.