{"id":1004122517,"date":"2015-07-03T12:04:06","date_gmt":"2015-07-03T20:04:06","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=354485"},"modified":"2020-04-22T22:25:45","modified_gmt":"2020-04-23T06:25:45","slug":"landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\/","title":{"rendered":"Landmark Building in the Southern Part of Heaven Gets New Owner"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

It\u2019s the end of an era for one of the most architecturally distinct commercial buildings in Chapel Hill.<\/p>\n

\"BCBSNC<\/a>Blue Cross and Blue Shield of North Carolina<\/a>, which ranks as the state\u2019s largest health insurer, is planning to consolidate its operations to a group of office buildings in Durham.<\/p>\n

As part of the transition, the company has reached an agreement to sell its iconic rhomboid-shaped headquarters building and campus at 1830 Chapel Hill Blvd. in Chapel Hill to the Raleigh-based State Employees Credit Union (SECU).<\/p>\n

According to the Triangle Business Journal<\/a><\/em>, the sale is expected to close later this fall for $35 million.<\/p>\n

BCBSNC had earlier announced that in 2016 it would relocate from the headquarters to the Durham Campus. The decision was prompted by the fact that the company would save more by moving to the new offices than by retrofitting the four-story, 240,293-square-foot Chapel Hill structure to lower its operation costs.<\/p>\n

According to Jim Blaine, president of SECU, the facility will help the company address two immediate goals: it will host a back-up disaster recovery center outside of Raleigh, since it includes a data center, back-up generators, and data communication lines, and it will also enable the relocation of the nearby Elliott Road branch. At the purchase, SECU plans to upgrade the 1973 property.<\/p>\n

About 900 employees still work from the Chapel Hill office, which BCBSN will lease through the first half of 2016, until it completes the move.<\/p>\n

\u201cThis is one of those \u2018right place at the right time\u2019 opportunities,\u201d said BCBSNC president & CEO Brad Wilson. \u201cThis transaction involves two North Carolina companies and one very special property with a proud history.\u201d<\/p>\n

In recognition of its unique architecture, the Chapel Hill building featured in the New York Times Magazine<\/em>, Time<\/em> and Newsweek<\/em>, and was also part of a design exhibition at the Museum of Modern Art in New York.<\/p>\n

Photo credits: BCBSNC<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s the end of an era for one of the most architecturally distinct commercial buildings in Chapel Hill.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[],"class_list":["post-1004122517","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham"],"acf":[],"yoast_head":"\nLandmark Building in the Southern Part of Heaven Gets New Owner - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landmark Building in the Southern Part of Heaven Gets New Owner\" \/>\n<meta property=\"og:description\" content=\"It’s the end of an era for one of the most architecturally distinct commercial buildings in Chapel Hill.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-03T20:04:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-23T06:25:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/BCBSNC-HQ-in-Chapel-Hill.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Landmark Building in the Southern Part of Heaven Gets New Owner\",\"datePublished\":\"2015-07-03T20:04:06+00:00\",\"dateModified\":\"2020-04-23T06:25:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\\\/\"},\"wordCount\":327,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/07\\\/BCBSNC-HQ-in-Chapel-Hill.jpg\",\"articleSection\":[\"News\",\"Raleigh-Durham\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-building-in-the-southern-part-of-heaven-gets-new-owner-2\\\/\",\"name\":\"Landmark Building in the Southern Part of Heaven Gets New Owner - 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