Banking & Finance and Real Estate

Bank sells urban building

February 5, 2015
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Bank sells urban building due to low occupancy
Bank of America, founded in 1783, operates about 4,800 branches in the U.S. Photo via wikimedia.org

A bank is selling an urban office building in the region, because of a low occupancy rate.

Bank of America is selling its two-story building in downtown Kalamazoo, at 200 W. Michigan Ave., said Diane Wagner, a spokesperson for the bank.

Bank of America has owned the approximately 8,000-square-foot building since it acquired it through a merger in 2007, Wagner said.

The building was assessed at $349,700 in 2014, according to the city assessor's office.

“I believe we are currently working with a buyer,” Wagner said.

Banker consolidation

Wagner said that Bank of America employees based at the office have already moved or are in the process of moving to either Grand Rapids or Battle Creek locations.

Wagner added that Bank of America is still working with local customers it served through the office.  

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