Bank of America to close Cherry Street Branch
Bank of America has announced its branch on Cherry Street in Macon will close its doors on April, 5. A spokesperson for the branch says a decline in transactions is the reason for the closure.
The decision follows a national trend of bank branch closing as more and more people begin to bank on-line and on their phones.
According to commercial real estate information company Co-Star.com, bank branch closing are outpacing opening by an average of 48% in every quarter since 2011.
"With all the changes going on in the banking industry, I just think it's sort of a sign of the times," said Main Street Macon Director Mechele McKinley.
McKinley and others taking on the revitalization of downtown Macon are tasked with finding a replacement for Bank of America. She says the first order of business will be to set a rental rate for the building which she calls "class A office space."
McKinley says the space would be best utilized as offices for an accounting firm or law office. She says it will take six months to a year to find a replacement.