Several WStoday readers have recently asked us, “What’s the status of the former BB&T building?”
Well, we finally have some answers.
The 20-story building — which has been vacant since Truist left in 2020 — went up for auction in early September.
A recently formed company called Primrose 1 purchased the 272,820-sqft, 1.22-acre property for $4.09 million, according to a deed filed on Friday, Oct. 30. While that final sale price is slightly more than $3.9 million winning bid price reported earlier in the month by RealInsight Marketplace, which took receivership of the building in 2024, it’s 1,265% more than the starting bid price of $300,000 and less than a third of the property’s total appraised tax value of $14.1 million.
Here’s what we know about Primrose 1: it was formed on Sept. 30 and lists a Winston-Salem address. Hytham Mouna is named as the company’s manager and Thomas Jacobs is listed as organizer. Mouna is also the owner and pharmacy manager of Med Solutions Compounding Pharmacy, which purchased the former Forsyth County Hall of Justice this year with plans to convert it into a mixed-use development with a fitness center, restaurant, and theater.
Mouna said that his involvement with Primrose is solely as its agent and that this purchase has nothing to do with Med Solutions.
When the winning bid was announced in mid-October, Greater Winston-Salem, Inc. President and CEO Mark Owens said he’s connecting the new owners to local leaders and stakeholders to “better understand their vision and explore potential opportunities.”
Could it be converted into a residential building? Jason Thiel, president of the Downtown Winston-Salem Partnership, thinks so — if a developer has the necessary capital and patience.
Whatever happens next, we’ll let you know.