Bank of America is planning to open a new branch in a historic downtown Portland building.
The national bank will open a location in the Meier & Frank Building at 621 S.W. Fifth Ave. in part of the space formerly occupied by department store Macy’s.
At least three permits have been filed for first floor space where the bank plans offices and an ATM space. Permits listed Sterling Bay as the responsible party for the permits, reported the Portland Business Journal.
The 16-story building was built in 1909 to as the Meier & Frank department store. Macy’s converted into a Macy’s location in 2006 but it closed in 2017. KBS and Sterling Bay purchased the building in 2016 for $54 million to reposition it as an office property.
The bank will join Japanese retailer Muji and Oregon State University, which leases nearly 40,000 square feet of space in the building. The building also houses The Nines luxury hotel.
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