Big-dollar permits filed for downtown bank’s build-out

UniongoestoJamesCenter1The build-out of a local bank’s new downtown headquarters is taking shape.

About $1.7 million worth of building permits have been filed for Union First Market Bankshares’ corporate headquarters at Three James Center.

The company, parent of Union First Market Bank, plans to move into the space in November. It will occupy 31,000 square feet, including corporate offices on the 11th and 12th floors and a 2,200-square-foot bank branch on the ground floor.

The move will give the $3.8 billion bank’s 50 percent more space than its current home in the Turning Basin building in Shockoe Slip.

The largest permit filed is $1.57 million worth of demolition. That has been contracted to Graybeale Construction of Mechanicsville.

Other permits have been filed for mechanical, electrical, plumbing and telecom work, also contracted to local companies. The initial build-out is handled by the landlord and owner of Three James Center, James Center Property LLC, an entity owned by JEMB Realty Corp. of New York.

The space Union is taking over was previously occupied by Kaufman & Canoles. That law firm recently moved to 14,000 square feet space in Two James Center.

Union currently occupies the second floor of the five-story Turning Basin building. First Market Bank had been the tenant in the space for about eight years before its merger in early 2010 with Union, which was then headquartered in Bowling Green.

The building is owned by an entity called Turning Basin LLC, which has said it is fielding interest in the space that Union will be vacating.

Union also has a branch in Turning Basin. The bank has not decided whether it will keep that branch open once the James Center branch is running.

Michael Schwartz covers banking for BizSense. Please send news tips to [email protected].

UniongoestoJamesCenter1The build-out of a local bank’s new downtown headquarters is taking shape.

About $1.7 million worth of building permits have been filed for Union First Market Bankshares’ corporate headquarters at Three James Center.

The company, parent of Union First Market Bank, plans to move into the space in November. It will occupy 31,000 square feet, including corporate offices on the 11th and 12th floors and a 2,200-square-foot bank branch on the ground floor.

The move will give the $3.8 billion bank’s 50 percent more space than its current home in the Turning Basin building in Shockoe Slip.

The largest permit filed is $1.57 million worth of demolition. That has been contracted to Graybeale Construction of Mechanicsville.

Other permits have been filed for mechanical, electrical, plumbing and telecom work, also contracted to local companies. The initial build-out is handled by the landlord and owner of Three James Center, James Center Property LLC, an entity owned by JEMB Realty Corp. of New York.

The space Union is taking over was previously occupied by Kaufman & Canoles. That law firm recently moved to 14,000 square feet space in Two James Center.

Union currently occupies the second floor of the five-story Turning Basin building. First Market Bank had been the tenant in the space for about eight years before its merger in early 2010 with Union, which was then headquartered in Bowling Green.

The building is owned by an entity called Turning Basin LLC, which has said it is fielding interest in the space that Union will be vacating.

Union also has a branch in Turning Basin. The bank has not decided whether it will keep that branch open once the James Center branch is running.

Michael Schwartz covers banking for BizSense. Please send news tips to [email protected].

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