Wells Fargo sells its downtown headquarters
Posted: August 28, 2015
TBL has learned that Brian Johnson of JCap Real Estate has purchased the Wells Fargo building at 204 E. Grand Ave., Eau Claire. The deal was finalized on Tues., Aug. 25th.
"We are going to develop it into upscale apartments on the upper floors. There will be individual rooftop terraces, higher-end finishes and hardwood floors. We're going to probably start in November. However, there will be opportunities for the current tenants to possibly remain in the building," said Johnson, who added that the newly-remodeled building will have a fitness room and executive conference rooms.
According to Wells Fargo Business Banking Manager Brady Nagel, the bank is leasing back its existing space for the next six months.
"We are negotiating on some other locations for our business banking unit and our wealth management team. They will eventually be relocating to another off-site location. We are going to remodel our drive-thru facility and that will become a full-service branch facility and accommodate our retail banking operations," said Nagel.
Dean Larsen of Acquisition Realty & Development represented both the buyer and seller in the deal. TBL