The pending merger between BB&T and SunTrust banks represents the largest banking industry deal since the start of the “Great Recession” in 2008 and a potential signal that more consolidation could be on the horizon. The combination of these two southeastern U.S. banks brands will create the nation’s sixth-largest bank holding company and result in a significant number of branches closing or being sold off. Rather than wringing their hands over the loss of good quality tenants, property owners and investors should instead focus their attention on repurposing those prime locations for other tenants and uses as well as potentially longer lease terms and higher rents. Examples include food and restaurant services, pharmacies and convenience stores or even urgent care centers and healthcare clinics. Investors can more easily adapt to industry consolidations and turn those potential lemons into lemonade when they work with commercial real estate professionals with local market knowledge, deep relationships with a national network of potential replacement tenants and the experience to build-out, repurpose and market properties for other uses.
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 email@example.com.