Sovereign Bank

[bombermwc]

If they are looking to be a bank for more than the business world or mortgages, then Union Plaza shouldn't be their end game. They have re-branded it and have their offices on the 1st floor still. The teller spots on the back garage deck are still there (and still never "green" lol). So it's clear that they are really only interested in foot traffic that has a reason to come inside (like a mortgage or a loan). If they really want to get into that general banking world, the new building would be necessary from a "service branch" perspective because Union Plaza just isn't set up for that. But haven't seen any indication that the newly combined bank is looking to get into that world though. So at least on the surface, it appears that they will be staying put at Union. There is PLENTY of space in the building for them to take as much as they want.

[ManAboutTown]

If they are looking to be a bank for more than the business world or mortgages, then Union Plaza shouldn't be their end game. They have re-branded it and have their offices on the 1st floor still. The teller spots on the back garage deck are still there (and still never "green" lol). So it's clear that they are really only interested in foot traffic that has a reason to come inside (like a mortgage or a loan). If they really want to get into that general banking world, the new building would be necessary from a "service branch" perspective because Union Plaza just isn't set up for that. But haven't seen any indication that the newly combined bank is looking to get into that world though. So at least on the surface, it appears that they will be staying put at Union. There is PLENTY of space in the building for them to take as much as they want.

Retail bank branches are a dying breed, for the most part. The younger generations prefer to move money electronically (Venmo, Apple Pay, etc.) and cash is easily available at ATM's. And bank branches are incredibly expensive, given the vault, teller line, security infrastructure, etc.

I would be surprised if they turn this prime piece of land on NW Expressway into a retail bank branch, but we shall see.

[Pete]

Demolition permits have now been filed for all four buildings on this site.

My understanding is that Sovereign Bank is still proceeding with a new three-story building despite buying the former Union Bank building just west on NW Expressway.

It seems they want a more visible location for the bank, plus an easy drive-thru setup.


No building permit applications have been filed as of yet.

[Pete]

As strange as this seems, this may have been the newest office building along NW Expressway for a long time.

I can't think of any office property built along that corridor for several decades.