Reshaping its Retail Network to Meet Consumer Needs
David Dunkelman of Soloff Realty & Development, Inc. represented Citizens Bank (Citizens Financial Group NYSE: CFG) in facilitating three (3) leases in Philadelphia.
1.) Broad Street & Spring Garden Street
Address: 490 North Broad Street, Philadelphia
SF: 3,017 SF (corner)
Landlord: Tower Investments
Notes: Citizens Bank relocated its older branch at 12th & Spring Garden to the new project at the corner of Broad & Spring Garden Streets to capture the foot traffic and expanding North Broad Corridor.
2.) 52nd Street & Market Street
Address: 5129 Market Street, Philadelphia
SF: 3,000 SF (free-standing with drive-up ATM)
Landlord: Viking 52nd Street Partners, LLC
Notes: Citizens Bank relocated its older, oversized legacy branch along 52nd Street to the hard corner of 52nd Street & Market Street to continue to serve this commercial and neighborhood trade area.
3.) Frankford Avenue & Knights Road
Address: 9998 Frankford Avenue, Philadelphia
SF: 2,400 SF (end-cap drive thru)
Landlord: 9998 Frankford Ave, LLC
Notes: Citizens Bank signed a new lease to relocate a mid-block branch to the hard corner of Frankford Avenue and Knights Road.
Co-Broker: Brian Wherty at Equity Retail Brokers
“While digital banking technology continues to evolve and improve, customers still prefer banks that have a physical presence in the community, especially when it comes to personal money matters and access to state-of-the-art ATMs,” according to David Dunkelman of Soloff Realty & Development, Inc., exclusive client representative of Citizens Bank in the Philadelphia region.
About Soloff Realty & Development: Soloff Realty & Development, Inc. (SRD) is a privately held, full service commercial brokerage and real estate development firm specializing in the expansion needs of exclusive retail clients in Eastern Pennsylvania, New Jersey and Delaware. SRD also specializes in the development, leasing and sale of free-standing retail properties and shopping centers throughout the Northeast.
