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FORMER FLEET BANK BUILDING SOLD FOR $8.23 BILLION

The Fountain Plaza property formerly known as the Fleet Bank building has been sold for $8.23 million.

The building's identity changed to Bank of America, following the completion of that bank's acquisition of FleetBoston this year.

The new owner of the Fountain Plaza building is First States Investors. It is related to American Financial Realty Trust, a real estate investment trust that bought nearly 250 bank branches and buildings from FFG Property Holding Group, which was affiliated with Fleet prior to the Bank of America merger.

The building's new owner has retained NAI Pyramid Brokerage of Buffalo to lease space there, said Pyramid's David Schiller.

The 21-year-old building is about 75 percent full, with tenants including the bank, law firms and the accounting firm KPMG, he said.

"It's an exceptionally fine professional environment," Schiller said.

Pyramid is also marketing space to prospects at a Bank of America branch in Niagara Falls bought by American Financial Realty Trust.

e-mail: mglynn@buffnews.com

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