Tuesday, March 3, 2020

If a Bank Branch Has to Close, What Are the Most Likely Reuse Scenarios?

NREI
Banks continue to shutdown branches across the country, but investors see creative reuse opportunities for these locations.

The typical closed branch encompasses around 8,000 to 14,000 sq. ft. of space, with some branches reaching up to 25,000 sq. ft. or 35,000 sq. ft., says Walter Bialas, vice president of research with real estate services firm JLL. This is where creative reuse of space comes into play.. . . more