The building will be located at 621 Capitol Mall, a few blocksfrom the state capitol. The full-block site has been a parking lotfor the past decade. David S. Taylor Interests acquired the landfrom the city several years back. The office building will take upabout 60% of the block.

The anchor tenant will be Downey Brand, a local law firm thatsigned a long-term lease for 85,000 sf. The namesake tenant will beUS Bank, which preleased 34,500 sf in the building, including 4,500sf on the ground floor for a retail banking center, and is theconstruction lender for the project. When US Bank Tower is completein early 2008, the bank will relocate its current downtown officespace and retail banking center from the US Bank Plaza building at9th and J streets. Also signed up is the California RestaurantAssociation, which has leased a full floor, or about 19,000 sfminus common areas.

David Taylor tells GlobeSt.com he expects to have several lawfirms in the building, which is why the naming rights were offeredto US Bank as opposed to the largest tenant. The asking lease rateis for space in the building ranges from $3 to $3.50 per sf permonth on a full service basis, depending on how high in thebuilding the space is located. Taylor says the building should beclose to fully leased by the time construction is completed orshortly thereafter. Bill Swettenham of CB Richard Ellis has theleasing assignment.