July 10th, 2011BB&T pays $4.8 million for 48 acres in Zebulon
BB&T Bank has purchased 48 acres along N. Arendell Avenue in Zebulon.
The Winston-Salem-based bank paid $4.8 million for the land, according to Wake County property records.
The seller was Arendell North, an entity whose address is that of Whichard Real Estate, a Raleigh company that owns a number of shopping malls across the U.S.
Whichard’s group bought the property in May 2007 for $6.5 million.
It’s unclear what BB&T plans to do with the land.
“This was a good opportunity for BB&T and we are evaluating the property for future use,” said David White, a bank spokesman.
Arendell North borrowed $4.6 million from BB&T when it purchased the property in 2007, according to property records.
The property includes eight parcels on the north side of U.S. 264. and the west side of N. Arendell.
The land is located between where Arendell intersects with Pearces Road and Green Pace Road.
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