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VANCOUVER, WA-Wells Fargo has acquired 1.03 acres at the northwest corner of Southeast 34th and 192nd in East Vancouver for development of a new retail branch. The bank paid $825,000 for the property. The developable portion of the land totals about 35,000 sf.

The ready-to-build parcel is located on one of the four corners that Killian Pacific is developing into Fisher’s Terrace, an office, retail and multifamily residential development. CB Richard Ellis’ Tom Fellman, who handles Wells Fargo’s real estate needs in the region, tells GlobeSt.com that East Vancouver area “is an area in which we had focused on trying to find a site for some time; it’s an area in which lots of banks are looking.”

Fellman says he and Wells Fargo had been working with Killian Pacific for the past year on the deal, but only tied up the parcel four months ago. Mert Meeker of MBM Properties represented Killian in the sale.

Fellman says Killian recently completed an office building next to the bank site. Across the street from the new bank, says Fellman, will be a QFC grocery store, Hollywood Video, Columbia Credit Union and Burgerville.

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