The lease extension, which allows Sovereign to retain space itsublet several years ago on the first, third and fourth floors ofthe 780,000-sf tower, also keeps the property at full occupancy. Inthis area, 2005 fourth-quarter vacancy rates were 13.8%, MichaelJoyce, with Richards Barry Joyce & Partners, tells GlobeSt.com.The lease also includes a bank branch office.

"They could have gone anywhere," Joyce says, "but it wasimportant for us to keep them in the property because they're agreat credit tenant and a real complement to the building. And itwas important for the city too."

Although terms of the lease were not disclosed, Joyce saysoffice space in the Financial District generally ranges in the $40to $55 per-sf price range gross. The financial institution is amonga number of other tenants located at 75 State St., includingWellington Management, Advent International and FortisInvestments.