Saturday, December 14, 2019

Wachovia Financial       Return

Resulting from the merger/acquisition with First Union Bank, The Oppenheim Group recently completed an extensive site selection program for Wachovia Bank in Virginia and Maryland. This multi dimensional project was assigned to us from their corporate real estate department where we were tasked with determining the viability of either refurbishing current facilities or relocating to better sites with newer, more active, centers located within the same demographic area. This assignment focused on existing leases or ground leases and also included owned property sites. In our project, we were also asked to analyze new emerging growth areas which required many weeks of field work which gave us a thorough understanding of the commercial real estate market in the emerging areas. To date, we have several ground leases secured with construction near completion on two new banks and many more under consideration for future development. In concert with our recommendations there are seven facilities that have been refurbished.

As an added dimension to our real estate expertise, our long term affiliation with the architectural firm Chelsea Design Group and their long standing relationship with the Carter Burgess Engineering Company (offices in 23 major cities in the US), we afford our clients the ability that addresses all aspects of the decision making process with the same diligence and professionalism that we focused on for Wachovia Bank.

Email Joel Oppenheim   |   Email John Snow   |  Email Philip Sussman  |  Email Jack Webster   |   Email Dennis S. Le Pon

The Oppenheim Group
Houston, TX Offices:   710 N. Post Oak Lane, Suite 400 Houston, TX 77024     (T) 713-386-5686   (F) 713-613-2908
2035 Sul Ross   Houston, Tx 77098     (T) 713-529-4555   (F) 713-529-7779
Richmond, VA Office:   8140 Grimsby Road   Richmond, VA 23235     (T) 804-320-7227   (F) 804-320-6699

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