**Bank of America to Open New Branch in Downtown Portland’s Historic Meier & Frank Building**
Bank of America is expanding its presence in downtown Portland with plans to open a new branch in the historic Meier & Frank Building, located at 621 S.W. Fifth Avenue. The branch will occupy part of the former Macy’s department store space on the building’s first floor.
According to public records, at least three permits have been filed for the new branch, which will include office space and an ATM area. Sterling Bay is listed as the responsible party for the permits, as reported by the Portland Business Journal.
The Meier & Frank Building, a 16-story structure, was originally built in 1909 to house the Meier & Frank department store. In 2006, it became home to a Macy’s location, which closed in 2017. Real estate firms KBS and Sterling Bay purchased the property in 2016 for $54 million and have since repositioned it as a mixed-use office building.
In addition to Bank of America, the building also features other high-profile tenants, including Japanese retailer Muji and Oregon State University, which leases nearly 40,000 square feet. The historic property is also home to The Nines, a luxury hotel.
