Truist Bank sold the former SunTrust branch at 11201 Nuckols Road for $1.35 million. (Photo courtesy of Google Maps)
A banking giant’s Richmond-area branch-selling streak continues.
Truist Bank last month sold two more of its former local SunTrust branches.
On Aug. 8 it unloaded the shuttered outpost at 11201 Nuckols Road north of Innsbrook for $1.35 million.
A day later it sold the dormant branch at 13001 Hull Street Road in Midlothian for $2.3 million.
The deals follow several similar sales by the bank of former SunTrust or BB&T locations in the area this year, including three to the same buyer. The properties were put on the market after Truist held several rounds of mass closures throughout its footprint as part of the marriage of BB&T and SunTrust.
Truist didn’t respond to a request for comment about the spate of recent sales in the area.
The Nuckols Road branch sold to an entity tied to Hamilton Asset Advisors in Yardley, Pennsylvania. The firm could not be reached by press time.
SunTrust built the 4,000-square-foot branch in 2006 after acquiring the 1-acre site in 2005 for $969,000. It was most recently assessed by Henrico County at $2.2 million.
Truist Bank sold the former SunTrust branch at 13001 Hull Street Road for $2.3 million. (Photo courtesy of LoopNet)
The buyer of the Hull Street Road property was Verdad Real Estate out of Texas.
The 3,800-square-foot branch was built in 1990 by Crestar Bank, a SunTrust predecessor. Crestar acquired the 1.6-acre site in 1989 for $435,000. The branch and land were most recently assessed at a combined $1.9 million.
Verdad did not respond to a request for comment about its plans for the site.
The firm is known for building from-scratch locations for 7-Eleven, Shake Shack, Popeyes and Starbucks, among other restaurant and gas station chains.
Verdad has a track record of such deals in the Richmond area. It previously built a from-scratch Starbucks on the site of a shuttered BB&T on Forest Hill Avenue.
It also built and subsequently sold two 7-Elevens in town in the summer of 2020.
Truist Bank sold the former SunTrust branch at 11201 Nuckols Road for $1.35 million. (Photo courtesy of Google Maps)
A banking giant’s Richmond-area branch-selling streak continues.
Truist Bank last month sold two more of its former local SunTrust branches.
On Aug. 8 it unloaded the shuttered outpost at 11201 Nuckols Road north of Innsbrook for $1.35 million.
A day later it sold the dormant branch at 13001 Hull Street Road in Midlothian for $2.3 million.
The deals follow several similar sales by the bank of former SunTrust or BB&T locations in the area this year, including three to the same buyer. The properties were put on the market after Truist held several rounds of mass closures throughout its footprint as part of the marriage of BB&T and SunTrust.
Truist didn’t respond to a request for comment about the spate of recent sales in the area.
The Nuckols Road branch sold to an entity tied to Hamilton Asset Advisors in Yardley, Pennsylvania. The firm could not be reached by press time.
SunTrust built the 4,000-square-foot branch in 2006 after acquiring the 1-acre site in 2005 for $969,000. It was most recently assessed by Henrico County at $2.2 million.
Truist Bank sold the former SunTrust branch at 13001 Hull Street Road for $2.3 million. (Photo courtesy of LoopNet)
The buyer of the Hull Street Road property was Verdad Real Estate out of Texas.
The 3,800-square-foot branch was built in 1990 by Crestar Bank, a SunTrust predecessor. Crestar acquired the 1.6-acre site in 1989 for $435,000. The branch and land were most recently assessed at a combined $1.9 million.
Verdad did not respond to a request for comment about its plans for the site.
The firm is known for building from-scratch locations for 7-Eleven, Shake Shack, Popeyes and Starbucks, among other restaurant and gas station chains.
Verdad has a track record of such deals in the Richmond area. It previously built a from-scratch Starbucks on the site of a shuttered BB&T on Forest Hill Avenue.
It also built and subsequently sold two 7-Elevens in town in the summer of 2020.
I get that the concept of branches is becoming more and more outdated and coffee shops and fast and fast/casual food places are a more profitable and more logical use of land. But the banks they are tearing down are places with very unique and often beautiful buildings that bring character to an area. The banks mentioned in the article that have been torn down were the brutalist-type bank on Midlothian near Agee’s that has been replaced by a very sterile looking strip mall. The bank on Forest Hill had a unique train station-look to it that recalled the history… Read more »