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One of Cape’s most recognized downtown banking
landmarks located at 325 Broadway was sold by Union Planters Bank to
Merriwether Investments, a real estate investment corporation owned by
Jon and Jerrianne Wyman. Tom
Kelsey, commercial broker with Lorimont Place, Ltd., represented Union
Planters Bank in the sale.
Kelsey said the sale closed in July, but the new owners did not want to
make a public announcement in the change of ownership until they
finalized their lease for the banking facility portion of the first
floor with Security Bank & Trust.
The Scott City based bank will open it’s fifth branch banking
facility in the former Union Planters facility and the downtown area
will again have a full service bank.
The unique two-story Broadway building consisting of 35,322 square feet
was originally built by First Federal Savings & Loan Association in
1964 and was converted to a Union Planters Bank Branch several years
ago. UP announced in early
summer their plans to close in that location leaving downtown without a
banking option. Security
Bank President, Larry Uelsmann said they have plans to open in December
with 5 employees.
Kelsey said the entire second floor is being leased as office space by
the Federal Prosecutors office. It was his understanding they would vacate when the new
Federal Courthouse is completed.
The
new owners, the Wyman’s have extensive real estate holdings in the
downtown area that include office buildings, an antique mall and
residential properties. They
also own and operate two restaurants; Royal New Orleans and Belle
Italia, both fine dining establishments.
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