The Woodlands Real Estate Blog

People say you can get anything at Wal-Mart, and for one local bank, that includes real estate. Woodforest National Bank plans to expand its operation center to the site Wal-Mart is vacating on Sawdust Road.

The property, located at 610 Sawdust Road, has more than 100,000 square feet and includes ample parking, making it a prime location for Woodforest, said the bank's Vice Chairman Michael Richmond. "The building fit our need,"" Richmond said. ""We would never have bought it if it didn't meet those requirements."" Richmond said the operation center is the backbone of the company. The workplace, which will be remodeled when Woodforest moves in, will include the bank's call-in customer service center and loan and deposit operation office.

About 850 employees work in the bank's current operation center, located at 25231 Grogan's Mill Road, and the new location will house banking files and offices. ""We don't know when we'll need the whole building, but we are growing so fast we decided to buy something bigger than we need today,"" Richmond said.

The bank, which operates in nine states, recently garnered the top spot in a customer satisfaction survey for the Southwest Region by J.D. Power and Associates. The real estate transaction has not closed yet, Richmond said. He believes the bank will begin the expansion in the spring or later. Wal-Mart is relocating to a 17-acre site located at 1021 Sawdust Road that is currently under construction.

In reference to the land, which Spring Woodlands Church of Christ sold to the mega retailer in early 2006, will house a new Wal-Mart Supercenter.

Becky Borth, the resident of a nearby Woodlands neighborhood who was concerned the old Wal-Mart site would be abandoned, said she was pleased to learn Woodforest would be taking over the property.