A commercial metal building is for sale in Boston.

First Ipswich Bancorp , the bank holding company for The First National Bank of Ipswich (FNBI), has announced it plans to sell its downtown office building as part of its long-term plan to refocus priorities and strengthen the institution.

The bank will continue to occupy the space, operating its branch in the metal building under a long-term lease agreement.

The property, a 10-story, 22,625 sq. ft. structure is located in the heart of Boston's financial district, will be sold though a "call for offers" process managed exclusively by CB Richard Ellis' Capital Markets Private Client Group.

"The sale and lease back of our Boston building is a logical next step in our ongoing strategic plan," said FNBI president and CEO Russell G. Cole. "FNBI, like many banks, believes that a sale/leaseback arrangement is consistent with good business practices.

The commercial metal building was built in 1895 and is one of the first steel-framed buildings constructed in the city.

An extensive restoration of the unit's exterior was recently completed. The bank acquired the property in 2005. Six tenants currently occupy it.