Harris Trust and Savings is one of several financial institutions that have embarked on building branches throughout the market. However, it is nothing new, according to Melaniphy & Associates, Inc.
"This is a rebirth of an old trend that was abandoned about 20 years ago," says John C. Melaniphy III in the retail consultants' most recent market report. "A consolidation followed."
Mario Melone and Nick Peters of CB Richard Ellis represented Harris Trust and Savings in negotiations with New Hyde Park, NY-based Kimco Realty Corp. in the transaction.
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