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BANK OF AMERICA

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Bank of America : Redwood Property Investors Reveal Restored Bank Building in Old Town Pittsburg With New Available Office Space

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05/21/2019 | 08:44am EDT

(PRWeb) - The Pittsburg Chamber of Commerce in partnership with Redwood Property Investors is set to reveal the newly completed and restored Historic Bank Building tomorrow, May 21st at 12pm during a ribbon cutting ceremony. The historic Bank Building at 430 Railroad Avenue, was originally built in 1921 and served as the local branch of Bank of America through the mid 1970s. In July of 2004, it was recognized by The Pittsburg Historical Society and is now being inaugurated for a second time with modern design and latest technology. This building will be available for lease to local businesses in the East Bay offering 18 suite spaces from 150 to 3,000 square feet.

Nearly 100 years ago, The Bank Building represented the economic center of Pittsburg, California and housed a variety of businesses. The decades of economic downturn that followed between the 1960s and 2000s caused a workforce shift that led to the creation of a redevelopment agency committed to revitalizing Old Town Pittsburg with the investment of over $500 million over the past 20 years. Sharing in that vision, Redwood Property, also saw the opportunity to enliven a historic building in turn, revitalizing this area, and bringing back life for professionals, businesses, and its local community.

We have seen what improving buildings can do for a community specifically, in Downtown Oakland, Walnut Creek, and Pleasant Hill. We want to help spur Old Town Pittsburg to become a beacon for business, art, and all kinds of community gatherings with this latest project. We are hoping to bring people and vibrancy back to Old Town, says Redwood Property owner, B. Reid Settlemier.

The Bank Building is not only a historical icon for Old Town Pittsburg, it has been rebirthed into a gateway for the present and future. Join the Ribbon Cutting Ceremony on Tuesday, May 21st, or schedule a tour of this historic landmark by contacting Wolfgang Croskey at wolf@homesbycroskey.com.

(c) 2019 All rights reserved, content and design by Arrowmedia Israel Ltd. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 92 973 M
EBIT 2019 38 787 M
Net income 2019 27 180 M
Debt 2019 -
Yield 2019 2,51%
P/E ratio 2019 9,63
P/E ratio 2020 8,75
Capi. / Sales 2019 2,82x
Capi. / Sales 2020 2,75x
Capitalization 262 B
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Number of Analysts 30
Average target price 32,9 $
Spread / Average Target 20%
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Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant President-Global Product Solutions & CMO
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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