Monday, May 20, 2024

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Graham, NC 27253
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State Employees’ Credit Union buys BB&T bldg. instead of building on previously-purchased site


State Employees’ Credit Union has bought the former BB&T branch at 220 South Main Street in Graham, abandoning its earlier plans to build its fourth branch in the county further down Main Street, near the intersection of South Main and West Moore streets in Graham.

SECU purchased the former BB&T property in Graham for $1.9 million last month, based on documents that were filed with the county’s Register of Deeds to consummate the transaction.

Alamance County tax records list the latest assessed value for the property – which includes an 11,104-square foot bank building built in 1984 and approximately 2.6 acres of land – at $2.1 million.

Earlier this year, the owners of the former BB&T branch on South Main Street had offered to sell the property to the Alamance-Burlington school system for $2.05 million. ABSS officials considered that option to relocate some of its employees from the former Sellars-Gunn Education Center in Burlington but ultimately opted to lease a vacant office building in Burlington.

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SECU is still planning to open its fourth Alamance County location in Graham but instead will renovate the former BB&T property, Mark Greene, SECU’s senior vice president for the Piedmont-Triad region, said this week in an interview with The Alamance News.

The timeframe to begin the renovations is unclear due to ongoing labor shortages and supply chain disruptions that have continued to affect construction projects since the coronavirus pandemic began in March 2020, Greene said Monday.

Meanwhile, SECU plans to sell the 1.9 acres of land it owns at 105 West Moore Street and an adjacent parcel at an unaddressed location at the corner of South Main Street in Graham, across from the Sheetz gas station at 1138 South Main Street, Greene told the newspaper this week.

This was the original look of the branch the credit union planned to build in Graham.

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