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Off-Market Bank Building Sale Nets $3M

WEST CHESTER, PA-First National Bank of Chester County expands its headquarters with acquisition of the 19,000-sf building at 1-3 N. High St. from TD Northbank NA.

By Marita Thomas | Updated on May 31, 2007

WEST CHESTER, PA-First National Bank of Chester County has acquired the 19,000-sf bank building at 1-3 N. High St. from TD Northbank NA in an off-market transaction. The price is undisclosed, but, on condition of anonymity, a person familiar with the deal tells GlobeSt.com it traded for in excess of $3 million, which translates to about $158 per sf.

Locally based First National is experiencing rapid growth and is currently headquartered in the buildings located at 4-9 N. High St. John Morrissey of Jackson Cross Partners says his company approached TD Northbank on First National’s behalf. “First National wanted to expand operations at its headquarters location here in the heart of the county seat. This acquisition was key to achieving their plan,” he says.

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