Dan Lovell, SIOR, LEED AP and Eric Getty, JD, together with Savills Studley, represented the seller, Wells Fargo in the disposition of the nearly 600,000 sf, class A office campus at Wildwood.
An office complex near Lakeshore Parkway has been purchased by a Pennsylvania company.
Patriot Equities, based in Wayne, Pennsylvania, said it acquired office buildings 200, 210 and 220 Wildwood Parkway from Wells Fargo. Financial terms of the deal were not disclosed. The deal is Patriot’s first investment in the Birmingham area.
Marcus Arredondo and Steve Walbridge from Savills Studley along with Dan Lovell and Eric Getty from Graham & Co. represented Wells Fargo in the sale.
Patriot said it will soon make spaces ranging from 30,000 to 70,000 square feet at the complex available to prospective tenants. Brad Jones of Cushman Wakefield/EGS Commercial Real Estate will head up leasing for the property.
Together, the three buildings consist of 590,000 square feet at the corner of Interstate 65 and Lakeshore Parkway in Homewood.
The new owners say the campus will be renamed Patriot Midtown Park and that they will invest in several capital improvements including lobby and restroom upgrades as well as exterior work and construction of a fitness center.
The campus was originally developed as headquarters for SouthTrust Bank and a large portion is still occupied by successor Wells Fargo. Patriot Equities said that Wells Fargo now occupies all of the 220 building and half of the 200 building as part of a long-term leaseback deal.
Patriot Equities develops, invests in and owns corporate real estate properties of all types across North America.
The deal for the office buildings adds one more component of real estate activity to the Lakeshore Parkway corridor. As previously reported, Tennessee developers are planning a serious upgrade of the Wildwood Shopping Center nearby.