(Reuters) -Wells Fargo is exploring the sale of the San Francisco constructing the place its headquarters are positioned, a supply accustomed to the matter advised Reuters, because the lender strikes to a brand new constructing.
The financial institution’s company headquarters will proceed to be in San Francisco and it has no plans to maneuver out of town, the financial institution mentioned in an emailed assertion to Reuters.
The lender has already began to have interaction in casual conversations with potential patrons and its workplace within the metropolis’s monetary district could possibly be put available on the market as quickly as this month, in response to a report within the Wall Avenue Journal, which first reported on the information.
Wells Fargo (NYSE:) has employed the real-estate funding financial institution Eastdil Secured, which it offered in 2019 and nonetheless owns a minority stake in, as an adviser, the Journal mentioned.
“As a part of our multi-year effort to construct a stronger, extra environment friendly Wells Fargo, we frequently assess our actual property portfolio,” Wells Fargo mentioned.
Wells Fargo additionally mentioned that it has completed enterprise in San Francisco since 1852, and “town stays vital to the financial institution”.
