PORT ANGELES — CB Richard Ellis, an international commercial real estate company based in Los Angeles, is selling Port Angeles’ former Westsound Bank building.
The company is also selling the sprawling, soon-to-be replaced Walmart building in Port Angeles.
The Westsound Bank building, closed last May after the Bremerton-based bank and its branches were seized by state and federal banking authorities because of “severe asset problems, significant losses and inadequate capital,” is priced at $638,000, according to CBRE sales associate C.J. Bowles.
The building has 2,876 square feet and is located at 602 E. Front St.
It was built in 2002 on the site of the former office building for the old Aggie’s Motel.
The Clallam County Assessor’s Office lists the property as being worth $645,830 in 2009.
Its value decreased about 15 percent that year from $759,800 in 2008.
‘Supercenter’ coming
Walmart will replace its 129,813 square-foot building at 3500 E. Highway 101 with a larger “supercenter” across from it on the north side of highway.
Construction of the new Walmart, on the site of a Kmart building closed in 1998, began last month.
The retailer plans to move into the new store this fall.
The Walmart building currently in use and its 19-acre site is listed by CBRE for $4.95 million.
The building, built in 1996, was assessed at $4.876 million in 2009 and $5.417 million in 2008.
The property with the building was assessed at $7.46 million in 2009 and $8 million in 2008.
________
Reporter Tom Callis can be reached at 360-417-3532 or at tom.callis@peninsuladailynews.com.