Tuesday, July 18, 2006

Wells Fargo Seeking $300 Million Sale Leaseback of Office Building in San Francisco

San Francisco Chronicle - July 15, 2006

Wells Fargo & Co. has put its office building at 333 Market St. up for sale, about 18 months after purchasing it and sinking $35 million into renovations. The asking price was not disclosed. The bank said it will offer to sign a 20-year lease with the new owner of the 33-story, 646,000- square-foot property.

Wells Fargo employs about 1,000 workers at 333 Market St. in various divisions including home mortgage, private client services and administration. Other tenants include the General Services Administration and Hotwire.

Wells Fargo officials said the strengthening commercial real estate market prompted the sale. The bank employs 8,000 workers in San Francisco and is headquartered at 420 Montgomery St. Sphere: Related Content

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