Two-story building to undergo renovation, offering space for future tenants
Morehead City, N.C. (June 22, 2021) – Burns & Wilcox, North America’s leading wholesale insurance broker and underwriting manager, today announced the purchase an office building located in the heart of Morehead City, North Carolina at 800 Arendell. The newly acquired building is already the home of the company’s Morehead City-based team
“We are happy to remain and enhance our presence within the Morehead City community through this real estate investment,” said Alan Jay Kaufman, President, Chairman and CEO, H.W. Kaufman Group, parent company to Burns & Wilcox. “Burns & Wilcox has operated out of North Carolina for nearly 35 years and this purchase further cements our long-term commitment and success in the region.”
Formerly owned by Wells Fargo Bank, the two-story building will undergo significant renovations over the next six months. In addition to improvements to the building’s infrastructure and a complete renovation of the exterior, the office space will be updated to reflect the distinct design and current architecture of Burns & Wilcox offices nationwide. The imaginative new space will feature an updated façade, more natural light, new meeting spaces and collaborative workstations.
After renovations are complete, Burns & Wilcox will occupy the second floor, while the first floor will be leased to new tenants. The strategic purchase represents a significant upgrade in terms of office space, accommodating the company’s desire to attract top talent and support its growth expectations.
The North and South Carolina offices are known for their specializations in Commercial, Professional and Personal Specialty Insurance, especially their expertise in coastal and flood business.
“Burns & Wilcox has historically been and continues to be a hub for coastal and flood business across North Carolina’s east coast,” said Berri Willis, Associate Vice President, Managing Director, North Carolina. “The need for specialty insurance is on the rise, especially within high-risk coastal areas, and we look forward to serving our communities for many years to come.”
Wells Fargo Bank was the owner and seller of the property. The deal was conducted by Kaufman Real Estate Management.
About Burns & Wilcox and Kaufman Real Estate Management
Burns & Wilcox is the insurance industry’s leading wholesale insurance broker and underwriting manager internationally recognized for its expertise in commercial and professional liability, property, environmental, marine and personal insurance.
Burns & Wilcox is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, and Europe and employs more than 2,000 professionals. Founded in 1969 and headquartered in Metro Detroit, Michigan, H.W. Kaufman Group also includes: Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Canada, Atain Insurance Companies, Afirm, Global Excess Partners, RB Jones, Stonemark, Minuteman Adjusters, and Kaufman Institute. H.W. Kaufman Group International includes: H.W. Kaufman Group Europe, Chesterfield Group, Lochain Patrick, Burns & Wilcox United Kingdom, Node International and Cranbrook Underwriting. More information can be found at www.burnsandwilcox.com or www.hwkaufman.com.
Kaufman Real Estate Management owns and manages an international real estate portfolio of commercial office properties with a strategic focus placed on regions where H.W. Kaufman Group’s global network of companies operates. The real estate company pursues and acquires Class A office assets, many of which support the continued growth of Kaufman’s specialty insurance offerings.
Kaufman Real Estate also provides lease portfolio management and real estate lifecycle services for more than 60 office locations across the United States, Canada and the United Kingdom, supporting Kaufman’s global network of 15 companies.