Think Bank to sell 2 branches, re-build
Here's some from a piece I wrote Think Mutual Bank's real estate strategy in Rochester.
In a move to improve efficiency, a Rochester bank plans to sell two of its branches and build smaller ones to replace them.
Think Mutual Bank is listing its branch buildings at 4001 West River Parkway, near 41st Street Northwest, and 1698 Greenview Drive S.W., near Salem Road, for sale.
“We are following a real estate plan that is designed to help us match our investments in facilities with the needs of our customers and the operations of the bank,” said Kirk Muhlenbruck, senior vice president of consumer banking.
Hamilton Real Estate of Rochester has listed branches for sale on the Minnesota Commercial Association of Realtors website.
The listed sale price for the 45,000-square-foot West River Parkway building is $3.9 million. Built by Benike Construction in 1989 as Think's headquarters, the complex sits on 10 acres of land.
Hamilton says he has already had talks with one interested party about this building.
The 21,000-square-foot Greenview Drive branch, which was built in 1993, is listed as $2.49 million.