Nationwide, banks, including JP Morgan Chase, Wells Fargo and Bank of America, have been downsizing and closing branches in response to the overwhelming growth of mobile-banking services and declining foot traffic in those brick-and-mortar locations.
Because banks are among the best credit-quality tenants and the most attractive net lease investments, this is the type of news that typically makes landlords and shopping center owners nervous. However, former bank branches could be a boon for smart real estate investors who recognize that these locations, typically located on high-traffic corner lots with an abundance of parking spots and extra space for drive-through lanes, can attract high-quality replacement tenants. Additionally, investors with smart counsel can bundle together and sell a portfolio of shuttered bank branches to potentially increase the return their initial investment.
The professionals with Orion Real Estate Group work with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.