NationsBank has agreed to buy the former headquarters of Wilcox Electric Inc. to ease expansion of the bank's transaction services in Kansas City.

The bank will move 650 people now working downtown in the first quarter of next year. NationsBank is inspecting the building, at the split of Interstates 29 and 35, and expects to complete the purchase by the end of the summer.

NationsBank also expects to hire more people for the operation. Shirley Nava, a NationsBank spokeswoman, said that the bank did not know how many workers it would hire, but that the 323,000-square-foot building can accommodate up to 600 more employees.

Ms. Nava said she did not how much NationsBank was paying for the vacant building. Bill Nelson, president of NationsBank Kansas City Region, could not be reached. -Kansas City Star

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.