A prime piece of downtown Bethesda property could be back on the market soon. One reader who banks at the TD Bank at 8101 Wisconsin Avenue reports that they have received a branch closure notice for that location. It lists the closing date for the branch as April 26, 2024. The branch, directly across Wisconsin from The Bethesdan Hotel, opened on April 16, 2016.
While big banks have no shortage of funds, TD Bank did pour quite a bit of money into this branch. The property used to be a gas station, which had to be demolished and the land remediated from pollutants. Then the branch building and drive-thru had to be constructed. Now, after only eight years in operation, the bank is apparently closing. Of course, the highly-desirable location of the property will now activate many a hot stove discussion in the real estate-watching community.
I take it that the branch at Woodmont and Old Georgetown (which was also built on a former gas station) will be unaffected. Indeed, I always thought that TD never really needed both locations.
ReplyDeleteBoth downtown Bethesda TD Bank sites are ripe for redevelopment.
ReplyDeleteThe corner property at Old Georgetown and Woodmont is prime.
What is a "hot stove discussion"?
ReplyDeleteIs it for issues that are on the front burner?
So that one of the participants might ultimately be able to say (using an expression from an older generation), "Now we're really cooking with gas!"?
Hot location?
ReplyDeleteBethesda is slow as hell during the week with offices mostly empty and people working from home most of the time. There is no lunch crowd, there is no one shopping in Bethesda, and all the cars you see are doordashers picking up delivery orders.
It's like a damn ghost town during the week and calling downtown Bethesda busy is such a damn lie, foot traffic is down significantly and the bank is probably closing due to a lack of traffic.
There is so many derelict and unused property in the Woodmont triangle that anyone is insane to open a new business without doing due diligence.
"There is no lunch crowd, there is no one shopping in Bethesda"
ReplyDeleteThanks for letting us know you've literally never spent a single minute in downtown Bethesda.
I will miss this TD Bank. The staff was exceptionally friendly and helpful. My daughter set up her first bank account there--and no, I didn't have to have a grown-up account for her to establish hers. I hope the staff can be relocated smoothly. They give local bankers a good name.
ReplyDeleteThe downtown Bethesda office workers have returned - maybe not pre pandemic levels but there are actually people around during the lunch and happy hour.
ReplyDeleteI think Marriott alone would make a huge difference if they required their HQ employees to work in the office all week.
Definitely lots of food delivery drivers!
MoCo Parking Lot 25, immediately east of the PD Bank site is being entitled for an eight story high apartment building. The bank lot could easily be added to expand this caper.
ReplyDeleteA tremendous amount of retail space is just being held vacant in the Woodmont Triangle supposedly waiting for redevelopment. It's obscene to give these people endless extensions for these unmaintained blighted properties.
ReplyDeleteToo many banks and nail salons already in our area. No surprise a bank is closing.
ReplyDelete