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Downtown Winston-Salem's Wells Fargo Center is up for sale. The property, which was purchased in 2008 by New York-based 601W Companies for $36 million, includes a 1,015-space parking garage. The center is the tallest building in Winston-Salem. Wells Fargo building for sale in downtown Winston-Salem
According to HFF, the 29-story tower is 95.8 percent leased with tenants that include Wells Fargo, Deutsche Bank Securities, Morgan Stanley Smith Barney and Wake Forest Baptist Medical Center. Last year, the U.S. Department of Veterans Affairs signed a lease for 80,000 square feet of space on four floors of the building as it prepared to add 85 workers to its Winston-Salem operations.
This thread is so wrong on several levels. First, the building owners are merely attempting to sell the property. It has nothing to do with the vacancy rate, which as noted above is extremely high. The potential sale will likely not affect the tenants at all.
Second, over the last four years Winston-Salem has filled vacant downtown office space at a faster rate than any other NC city. Link
Sunny...this tower very much has a tenant, it is over 98% leased by several high profile tenants. It is only being sold just like the BB&T Financial Center was recently sold..without a problem. Your headline is very misleading.
This thread is so wrong on several levels. First, the building owners are merely attempting to sell the property. It has nothing to do with the vacancy rate, which as noted above is extremely high. The potential sale will likely not affect the tenants at all.
Second, over the last four years Winston-Salem has filled vacant downtown office space at a faster rate than any other NC city. Link
Downtown WS is doing just fine.
Agreed!
SunnyKayak, with all due respect, did you read the article that you linked in your post? Here is an excerpt...
Quote:
According to HFF, the 29-story tower is 95.8 percent leased with tenants that include Wells Fargo, Deutsche Bank Securities, Morgan Stanley Smith Barney and Wake Forest Baptist Medical Center. Last year, the U.S. Department of Veterans Affairs signed a lease for 80,000 square feet of space on four floors of the building as it prepared to add 85 workers to its Winston-Salem operations.
Wells Fargo leases 60 percent of the building and has nearly 13 years remaining on its lease, according to HFF.
Commercial buildings are frequently put on the market, and many times has nothing to do with vacancy rates. For many large institutional investors, real estate is simply part of a portfolio, much like equities.
Sorry Ill change title to what the article listed it as
I like that you post articles relative to triad business, but lets keep the facts as they are and don't be tempted to sensationalize. We have enough of that from the pros.
I just searched through your posts, after reading them I'm glad you don't like Winston. You probably don't like 99% of the planet. Maybe you would be happy in Kansas.
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