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Bank of America has completed a sale-leaseback transaction on its property at 135 S. LaSalle, unloading the 1.1 million-sf property to AmTrust Realty Corp. for $190 million, sources say. The 44-floor building was known as the LaSalle Bank Building previous to Bank of America and LaSalle Bank’s merger, through which the new owner gained the facility in the acquisition. Sources say the building, constructed in 1934, has a 100% occupancy rate.

Bank of America has previously said it planned to enter into a long-term lease in the building following the sale. Jones Lang LaSalle managing director Bruce Miller, managing director Jim Postweiler, EVP Bruce Westwood-Booth and VP Peter Harwood represented Bank of America in the sale. Officials with JLL declined to comment on the deal. AmTrust officials could not be reached for comment.

In April, Miller talked with GlobeSt.com about the bank’s plans for an SLB. He said SLBs are becoming a national trend and that now is a good time to perform that type of transaction. “There are plenty of active buyers circling around properties with long-term, stable tenants with strong credit ratings … this is the right time to leverage the lack of competitive product in the market,” he told GlobeSt.com in April. “Corporations are wisely converting real estate to cash to increase their capital ratios,” he said.

The building suffered a multi-story fire in December 2004, and underwent a multimillion restoration, including a complete façade restoration, a new building automation and air distribution system. Renovations also included the installation of a building-wide life safety system that allows early detection of smoke, fire, natural gas and carbon monoxide within the tower.

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