ANB Building on the Selling Block

Readers have probably noticed a sign on the side of the former headquarters of ANB Financial NA. It’s the building on the west side of Interstate 540 at the Pleasant Grove Road exit. Technically it’s on Southern Hills Boulevard in Rogers and is listed by Grubb & Ellis – Solomon Partners’ Beau Barrett.

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The 69,022-SF, two-story building was constructed by ANB’s top brass in 2004 and 2005 to accommodate its exponential growth, and has areas dedicated to real estate closings and an insurance company the bank purchased when regulations were loosened. Plus there was plenty of room for future expansion.

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The asking price for the building and 6.3 acres is $4.8 million.

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When ANB failed on May 9, 2008, IberiaBank fsb (then doing business in Arkansas as Pulaski Bank & Trust Co.) opted to not purchase the building as part of its package from the Federal Deposit Insurance Co. (Pulaski paid about $236 million for various assets of ANB at the time.)

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The FDIC made it a temporary headquarters for themselves and various groups that worked on closing out ANB’s books, and it became its property. The building has been vacant since April and was finally listed for sale in July.

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Barrett said he is in active negotiations with a buyer, but couldn’t say if it was a local group or when the transaction might close, only that there has been a lot of interest in the building.