U.S. Bank Plaza is a 25-story, 427,000-sf property located onNinth and J streets. The building's three main tenants are U.S.Bank, California Department of Managed Care and Investors Bank andTrust.

Shorenstein tied up the property after Grosvenor's deal withMcCarthy Cook & Co. and Charlesbank Capital Partners LLC fellthrough last week. Sources say the would-have-been buyers werereluctant to take the investment risk given the current economy.Walton Street Capital and Equity Office Properties Trust were alsobidding on the property but a deal was not reached.

According to local sources, Grosvenor received a great deal ofinterest in the property. The agreed-sale price between Grosvenorand Shorenstein will likely not be made available until thetransaction closes. Shorenstein is currently in the due diligenceprocess. The asking price was $120 million.