Vaults and safe-deposit boxes (not mattresses) are just about the best places for our assets. Well, what about buying an entire branch office?
NYC-based Carlton Advisory Services is accepting sealed bids on behalf of Gramercy Capital Corp. for 74 such properties in 19 states, with 14 of them located in Florida. The bids are due Friday.
Among the properties being featured in the national auction is a recently renovated Regions Bank branch in Inverness with annual revenues of about $214,000 and a long-term lease through mid-2020. Other branches are scattered throughout Florida and are either currently or formerly occupied by various banks.
Carlton states that the properties “are available in prime locations at very attractive prices, and represent exceptional value for retailers or professional services firms looking to expand their operations or geographic footprints.” Thomas McCarthy, managing director of the firm’s West Palm Beach office, is in charge of the sale.
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