SAN FRANCISCO-Dodge & Cox, an asset management company, has signed a long-term lease to occupy Bank of America’s former executive suite of San Francisco’s Bank of America building.

Dodge and Cox will occupy 60,000-sf at the building. It signed a direct lease with Shorenstein Co. for the 39th floor of 555 California St. and a sublease agreement for the 40th floor executive suite with Bank of America. Shorenstein and Bank of America are co-owners of the building. 555 California Street is a 52-story building that is located in the center of the financial district.

While the deal terms are confidential, according to sources, the company paid close to $50 per sf, full service, excluding tenant improvements. The length of the lease is just over 10 years.

Independent broker Bruce McLellan represented Dodge & Cox in the deal, while Shorenstein’s Karl Baldauf represented the property owners.

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