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Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Union bank branch sold in city

700 Kenmore Ave.

The former home of a Union Bank & Trust branch in downtown Fredericksburg was sold last week to the Rappahannock Area Community Services Board.

Union First Market Bankshares Corp. sold the 2,200-square-foot building at 700 Kenmore Ave. for $525,000. The city’s recent reassessment values the property at $594,200.

The branch closed after Union Bank & Trust and First Market Bank merged in 2010. FMB had a newer location just down the street at 725 Kenmore Ave. that remains open as a Union First Market Bank branch.

RACSB’s headquarters is nearby at 600 Jackson St. The organization is outgrowing that facility and will move its early intervention services to the Kenmore Avenue property later this year following a renovation.