The Bank of America building at 4901 Bosque Blvd. has a buyer.

Real estate agent Clifford Allen said the building, across Bosque Boulevard from an H-E-B grocery store, is under contract for purchase. He described the prospect as an “out-of-town” buyer.

Allen said he expects the deal to close within two weeks, but he foresees no major changes.

“Bank of America already has indicated it would love to stay there, so I’m expecting everything to be exactly the same. People won’t notice any difference,” Allen said.

The bank reportedly has about 30 months left on its lease. It makes monthly payments of $54,268 and is responsible for all repairs, maintenance and operation of the property.

Waverly Holding Co. in Galveston wants to part with the property and was asking $4.4 million cash for it. Allen said he could not divulge the final sales price but said the seller is satisfied.

Waverly is a big supporter of the Sealy & Smith Foundation in Galveston. The foundation made $620 million in grants for health care-related projects on the island and recently pledged $170 million for construction of a hospital.

The Waco complex to be sold includes a 28,000-square-foot main bank building and a motor bank.

Allen said renovations on about 12,000 square feet are continuing to make room for the Center for Occupational Research and Development, or CORD, which is now located on Lake Air Drive. Since 1979, CORD has been creating tools and programs to help teachers prepare their students for jobs or higher education.

The largest occupant likely will remain Bank of America, which prefers leasing rather than owning, Allen said.

Bank of America also is the largest tenant in a building at 518 Austin Ave. that home-construction partners Steve Sorrells and Keith Gunn bought in recent years. The builders recently announced they would move the offices of Sorrells & Gunn into the downtown structure, taking about 4,000 of its 45,000 square feet.

They are marketing about 15,000 square feet of the building, once home to the Strand Theatre.

mcopeland@wacotrib.com

757-5736

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