News Summary

The former SouthState Bank branch in Aiken has been sold for $1.62 million to SBK SC Portfolio Owners. This property, located at 1001 Pine Log Road, represents a significant development for the local community as it spans 1.76 acres with future potential for growth. The sale concludes a notable period for SouthState Bank, which recently expanded through a merger with Southeastern Banking Financial Corporation, enhancing its presence in Aiken and surrounding areas.

Aiken’s SouthState Bank Branch Sells for $1.62 Million After Corporate Merger

Exciting changes are happening in Aiken as a property formerly housing a SouthState Bank branch on the Southside has recently sold for a whopping $1.62 million. Yes, you heard that right! The site, located at 1001 Pine Log Road, has officially changed hands to a Delaware-based company known as SBK SC Portfolio Owners for the impressive price of $1,620,862.

A Significant Transaction

The details of this transaction have been confirmed through Aiken County land records, with the deal closing on February 26, 2025. This transaction marks a significant moment for the local community, combining business growth and strategic real estate maneuvers. The property in question spans a generous 1.76 acres and includes a one-story building boasting an area of 3,988 square feet. It seems like there’s more to come in terms of potential development!

Who’s Behind the Purchase?

SBK SC Portfolio Owners is linked to Blue Owl Real Estate Capital LLC, a firm based in the bustling city of Chicago, Illinois. The registered agent for this newly established ownership, United Agent Group Inc., has its office situated in North Charleston, South Carolina. This connection hints that the new owners have plans in motion for the branch’s future—or perhaps even the surrounding area.

SouthState Bank’s Recent Expansion

As for the seller, SouthState Bank, N.A., it stands as a well-known name, particularly in the Southeastern United States. With its headquarters nestled in Winter Haven, Florida, this nationally chartered bank operates across various states, including Texas, North Carolina, Georgia, Colorado, Alabama, and Virginia. Impressively, over 1.5 million customers trust SouthState Bank for a wide array of financial services—it’s a big player in the banking scene!

The Bigger Picture

The shift in ownership comes at an exciting time for SouthState Bank, as it has been undergoing substantial expansions. Recently, the bank merged with Southeastern Banking Financial Corporation, which included acquiring multiple branches from Georgia Bank & Trust. This move added a total of 12 new banks to the SouthState family, with three of them conveniently located in Aiken County. How great is that for local banking options?

Transitioning into the Future

The merger with Southeastern Banking Financial Corporation became official on January 3, 2025, with an eye-popping total purchase price of $435.1 million. Talk about financial firepower! The system conversion for the newly acquired branches was wrapped up by the end of February 2025, ensuring a smooth transition for customers and employees alike.

Aiken’s Banking Landscape

The banking landscape in Aiken is undeniably evolving, and SouthState Bank has been at the forefront of these changes. Notably, the bank has actively pursued the acquisition of other banking branches throughout the Southeastern U.S., including previous purchases of Bank of America branches back in 2015. As a community, there’s no denying the feeling of anticipation about what this means for local business and the economy.

Conclusion

With such a big transaction now finalized, Aiken residents might be curious about what the new owners have in mind for the property. Will a new financial institution make its home there, or could it be transformed into something completely different? Whatever the case, one thing is clear: Aiken is bustling with opportunity and growth. Stay tuned for more updates on this development, as the community watches the changes unfold!

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