VIRGINIA BEACH — Branch Banking and Trust (BB&T) last month bought an undeveloped 1.5-acre lot located at 948 Laskin Road – between the Linkhorn Shoppes and Welton’s Seafood Market).
BB&T bought the land from Wheeler Real Estate Investment Trust (WHLR – Laskin Road LLC) for $2,832,500.
David White, vice president of corporate communications for BB&T declined to comment on the company’s plans for the site.
WHLR, a Virginia Beach-headquartered commercial real estate investment company, purchased the lot in 2015 for $1.6 million.
A three-story, 28,000-square-foot office building was originally planned for the site, which has frontage on Little Neck Creek. The plan also called for a seven-slip marina for use by tenants of the office building.
The proposed office building appears to have faced zoning/height challenges and never came to fruition.
No structures are currently located on the property.
BB&T has about a physical dozen locations in Virginia Beach, including banking locations on First Colonial Road and Pacific Avenue, both just minutes away from the recently purchased property on Laskin Road.
