For many years, Amplify Credit Union knew that their Brockton flagship branch was going to have to be replaced. For one thing, the building – opened in 1985 -- was outdated and no longer ideal for all of the demands of modern banking. For another, it sat on four acres, much of which was not being utilized.
When the search for a new location began in earnest in 2012, there were some very specific requirements that had to be met. According to the man charged with finding the site, Colliers International Executive Vice President Doug Rauls, the new location had to have good street access, be on a corner with a traffic light, be relatively close to IBM and also be in a position to have a strong, visual presence for the Amplify brand.
Throughout the selection process, Rauls met every two weeks with the Amplify decision-making team of President/CEO Paul Trylko, Executive Vice President Kendall Garrison, Senior Vice President/CFO John Orton and Senior Vice President of Operations Nancy Ballman to hammer out the details of the site selection and purchase.
“The Amplify team was very engaged in the process” said Rauls. “With all the decision makers in the room, things could be resolved quickly.”
After considering a number of possibilities, a one-acre site at the corner of Esperanza Crossing at Burnet Road was deemed to be the most ideal. It certainly met all the primary criteria and had the additional benefit of being directly adjacent to the ever-expanding Domain.
“The site is located in the North Burnet Gateway development area,” said Rauls. “I think the Domain is going to be Austin’s second downtown in years to come, with high population and development density. All of that development will be within walking distance of the branch. In addition, Brandywine’s eventual redevelopment of the IBM campus just to the north of the site, will bring even growth to the area.”
This gradual buildup will give the new Amplify location long-term viability as more and more people move to within close proximity of the branch.
Amplify came into possession of the property thanks to some good, old-fashioned horse trading. The property was being marketed by Endeavor, who, in turn, took an interest in Amplify’s Brockton flagship property.
“Endeavor was great to work with,” said Rauls. “We were able to work out a swap that was mutually agreeable to both parties.”
When Amplify’s new building is ready toward the end of this year, Endeavor will take over their old property with an eye toward developing it.
Poor site selection can undo a business endeavor before it ever opens its doors, so this was not a step that Amplify took lightly. By hiring a top firm to help in the search and then having their highest-ranking officers directly involved with the progression, Amplify was able to get the best possible result.
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