According to the results of Future Branches’ 2019 survey of banking customer, the rise in mobile and online banking has not diminished consumers’ preferences to visit physical branch locations. More than half of the customers surveyed reported visiting a local branch and meeting face-to-face with bankers to conduct common transactions, such as accessing cash, applying for loans or discussing other financial products on a monthly basis. However, as banks continue to adopt to omni-channel strategies, it is likely they will continue to close branches and reduce their physical footprints.
What does this mean for investors whose real estate portfolios include bank branches? As always, location and strong property fundamentals are key to maintaining positive investor returns. Properties in highly visible locations with ample parking and a diverse tenant mix that are close to established or growing neighborhoods will either survive under their current brands, or property owners may have an opportunity to reposition those locations for alternative use, including restaurant dining and/or delivery services, delivery of medical services or in demand experiential retail concepts.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works 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.