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Multi-story building in foreclosure at intersection of Jesse Jewell, E.E. Butler parkways
Wells Fargo
Wells Fargo operations left this property at the intersection of Jesse Jewell and E.E. Butler parkways. The building is now in foreclosure proceedings. - photo by Jeff Gill

One of Gainesville’s most recognizable buildings — commonly known as the Wells Fargo Center — is going through foreclosure, according to a legal notice that appeared Thursday in The Times.

The seven-story building is at 340 Jesse Jewell Parkway, off E.E. Butler Parkway, one of Hall County’s busiest intersections.

The owner of the property is Richmond, Va.-based TIC Jewell Parkway LLC.

Company officials couldn’t be reached for comment. Georgia Secretary of State records show no registered agent for the company and lists the company’s status as “withdrawn.”

John W. Benson, an Atlanta lawyer involved in filing the foreclosure, said that as soon as that process happens, “the lender would get (the property) listed for sale.”

Hall County records show TIC Jewell Parkway as buying the property in December 2005 for $19.2 million. Its current value is $11.7 million.

The building, which sits on nearly 3 acres, has 90,121 square feet and six suites available for lease, ranging in size from 200 to 11,772 square feet, according to Xceligent, a Missouri-based provider of commercial real estate information and market analytics.

The building is perhaps best known for being the longtime home of Wells Fargo’s Gainesville main branch.

Wells Fargo closed the branch on May 19, opening a new branch off Jesse Jewell Parkway in New Holland on May 22.

Asked why the bank moved to the new location, Wells Fargo spokeswoman Amy Amirault said in an email, “Wells Fargo remains committed to serving customers in Gainesville and actively contributing in the community.

“As we evaluate our branch network, we base our physical distribution strategy on customer behavior, market factors, economic trends and competitor actions. We will continue to have a strong distribution network with several branch locations and ATMs throughout the Gainesville area.”

The ATM at the old branch’s drive-thru is still operating, she said. Otherwise, at the old location, “we no longer have a bank presence.”

Gainesville-based The Simpson Company is marketing the old Wells Fargo building.

The center “provides an ideal opportunity to acquire a high-profile property with stable occupancy history and diversified tenant mix,” says a Simpson brochure on the Xceligent website.

“It’s a great property and has stood the test of time,” said Tim Evans, the Greater Hall Chamber of Commerce’s vice president of economic development.

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