Former Wells Fargo branch on Cordova sold

Longtime partners in real estate deals Ernest Romero and David Gurule have acquired the former Wells Fargo Bank branch property on West Cordova Road.

Wells Fargo had owned and occupied the triangular property wedged between Cordova and Camino de los Marquez since 1997. Wells Fargo closed the branch on May 17.

Romero and Gurule closed on the purchase at an undisclosed price in late October through their limited liability corporations, PC19 LLC for Romero and PCCF LLC for Gurule.

“When Wells Fargo announced they were closing, we started digging into it,” said Romero, the qualifying broker at Phase One Realty in Santa Fe. “This property is well located. We negotiated a fair price.”

Gurule was a principal at Phase One and now is a broker at Barker Realty.

The 7,400-square-foot building sits on about seven-tenths of an acre. There has been a bank at that location for decades, starting with a Santa Fe National Bank branch in 1957. The current structure was built in 1986, according to Santa Fe County Assessor’s records.

“We don’t have any tenants lined up,” Romero said. “We are looking for tenants, one tenant or two. We prefer a single tenant.”