The 12-story, 600,000-sf bank building is located at 101 Market St., across from the Hyatt Regency Hotel in the Financial District. The parties involved did not release the negotiated lease rate and there was not advertised asking rate for the space. The average annual effective rent for class A space in the financial district was around $35.50 per sf at the end of the 2005, according to various market reports.

Andrew Hueser with Trammell Crow Co. represented the Bank. John Ruskin and Steve Chaitin of Studley represented Monitor Group. Hueser tells GlobeSt.com that the building's security presented "a bit of a challenge" to leasing the space. With metal detectors and X-ray machines to get past, entering the building "is the same as going through an airport," says Hueser. Other amenities include an on-site cafeteria, health club and conference facilities.

Very few have occupied the Federal Reserve Bank of San Francisco building other than the Federal Reserve. The availability of a full floor in the building is in part due to recent consolidations and changes in the Federal Reserve System.

In Portland, OR, the Federal Reserve Bank of San Francisco is selling its 88,000-sf Downtown office building after consolidating much of its operations in Seattle and moving to a much smaller leased space, GlobeSt.com reportedin February. Rich Sabel of CB Richard Ellis has the disposition assignment. The base asking price is $8.5 million, which compared to a tax-assessed value of about $14 million. Built in 1950 for the Federal Reserve, the building sits on an acre of land at 915 SW Stark and is covered with black and gray marble.