RBC Bank building for sale

Jan 5, 2012

Story by: Jamaal E. O’Neal, posted on WilmingtonBiz.com

A prime piece of downtown Wilmington real estate is now up for sale.

The 10,000-square foot RBC Bank building, located at 101 N. Third St., can now be purchased for $1.8 million.

Winston-Salem-based BB&T Bank recently took over the title of the building, and has tapped Cape Fear Commercial brokers Brian Eckel and Hank Miller to handle the asset, Eckel said Thursday.

RBC Bank — which was recently purchased by Pittsburgh-based PNC Bank — will continue leasing the property; however, Eckel said that is set to expire by the end of the year.

“We are in discussions with RBC about possibly renewing their lease, and will be working closely with them should they have a desire to stay at this location,” Eckel said. “However, this site should command quite a bit of attention as it is arguably one of the best sites in downtown on the corner of Princess and Third.”

Eckel said the property could have many purposes.

“I believe there are several potential strategies that could be implemented to increase the value on this property from renewing, re-tenanting or redeveloping the site,” Eckel said.

Eckel and Miller also sold a parcel of land at 101 N. Front St. for $1.5 million. The pair also closed on the Bannerman Station parking lot December 29 for nearly $732,000 per acre.

The buyers of the downtown property, and their future uses, remain unclear.
Eckel could not be reached for comment Thursday afternoon.

View original story at The Greater Wilmington Business Journal.