Today, banks recognize that branches are a high-cost distribution channel. The banks strategically look for ways to consolidate their branch locations that provide the least amount of customer disruption.

 

PNC recently announced that they will close several more branches in their portfolio. Due to the effects of the coronavirus, more consumers are turning to digital banking. Many customers are visiting branches less often due to the availability of technology. The banks hope to see that their digital sales compensate for the loss of the brick and mortar locations.

 

Goodman Real Estate Services Group LLC has worked as an outsourced real estate partner with PNC Bank since 2013 and has completed more than 15 transactions. Our responsibilities include negotiating leases for remote ATMs and the sale of PNC-owned bank branches as well as the sub-leasing of surplus properties and lease terminations.

 

For more information, please contact Steve Altemare.

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