Community Bank & Trust Acquires Branch Location
29-Jun-2011CoStar Group
Owner To Occupy Outparcel at Macarthur Crossing
June 29, 2011
Community Bank & Trust acquired 7720 N. Macarthur Blvd. in Irving, TX, from Paul and Diane Williamson. The price was not disclosed. The single-story, 3,747-square-foot, general freestanding retail building was built in 2008 and is in the Las Colinas Retail submarket. The location used to be occupied by Wachovia but became redundant after the acquisition by Wells Fargo.
Lem Miller of Sandia Properties, the broker for the sellers, believes “the Wells Fargo assets are quickly coming off market due to the high visibility and demand for existing bank locations.” He has disposed of 17 Wells Fargo assets in the DFW market since the beginning of the year. Jeff Sheehan of Site Selection Group represented Community Bank & Trust.