North Carolina-based Branch Banking & Trust has sold a building in Coral Gables that formerly housed its former branch, the South Florida Business Journal reported.
The branch on the ground floor of the 17,103-square-foot building at 1533 Sunset Drive shut down after the acquisition of the Fort Lauderdale-based community bank BankAtlantic. Coral Gables-based Windsor Investments bought it for $3.5 million, with plans to renovate. The building has no other tenants, the publication said.
David Preston of Newmark Grubb Knight Frank represented BB&T in the sale. Adam Greenberg and Michael Lapointe of NGKF Capital Markets represented Windsor Investments, led by Roland Degasbarro.
In November 2011, BB&T acquired $3.3 billion in deposits and $2.1 billion in loans from BankAtlantic, along with 78 branch locations throughout South Florida, as previously reported. [South Florida Business Journal] – Mark Maurer