Historic Murchison Building purchased for $8.25 million

Murchison Building (Photo: WWAY)

WILMINGTON, NC (WWAY) — A centerpiece of downtown Wilmington has a new owner.

The historic 11-story office building is located at 201 N. Front Street and has been a familiar site in downtown Wilmington since its completion in 1914.

The Murchison Building was recently acquired for $8.25 million by an anonymous purchaser, represented by Paul Loukas and Lindsey Hess of Cape Fear Commercial.

“We are very excited that our client was able to purchase such an iconic building,” Loukas said. “It’s truly a landmark for our historic downtown.”

Originally the Murchison Bank was stationed on the first floor, behind the signature columns and marble base of the building’s lower exterior. The Murchison Building was the tallest structure in the city for nearly 100 years until the construction of the PPD headquarters in 2007.

“It’s an understatement to say that this was a delicate and complicated transaction,” Loukas added. “With rising interest rates, and the fact that the building is a century old with over 80 tenants, we had to be nimble at every step.”

“We’re proud to be a part of the Murchison Building’s story,” Lindsey Hess said. “The structure, and downtown Wilmington itself, is filled with history, and that presents so many exciting opportunities for the future.”

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