It was originally owned by the bank, but in 1972 a pending sale of the building to developer Harry Mittleman was reported. Mittleman completed the purchase in that year and moved into an office on the building's 15th floor. The 1972 sale included a leaseback agreement under which the Bank of California would lease the building for up to 35 years. In 1986, after Mittleman's death, the building was owned by his estate, but the "long-term master lease" was planned to be transferred from the Bank of California to a partnership of Melvin Mark Properties and Douglas Goodman in January 1987. The bank continued to be the building's primary tenant, leasing of the overall of space at that time.