Kenosha-based Southport Bank has sold the Southport Financial Center office building for $3 million.
The 35,000-square-foot multi-tenant building, located at 6905 Green Bay Road in Kenosha, was excess office space for Southport Bank, and it vacated the facility about six months ago, said Russ Weyers, president and chief executive officer of Southport Bank.
A group of investors, some of whom plan to become tenants, purchased the building from Southport Bank under the name Southport Financial Center LLC, Weyers said. Southport Financial Center LLC is registered to James J. Wavro.
“We had use of it ourselves but the space we no longer needed,” Weyers said. “We’re not in the business of managing office buildings – we’re a bank.”
Weyers said Southport Bank will use the proceeds for general corporate purposes and to make loans.
