A rendering of planned renovations to Cape Cod 5's Orleans branch. Image courtesy of Solidus and Cape Cod 5
Cape Cod 5, based in Hyannis, is under agreement with Orleans-based law firm La Tanzi, Spaulding & Landreth to sell an office property at 20 West Road, which currently holds its trust and asset management offices.
The $5.5 billion-asset bank also plans an expansion and renovation of its Orleans branch at 97 Cranberry Highway. Future changes to the upgraded banking center include increased office and meeting space, a comfortable seating area for clients and a refreshed space for banking transactions, the bank said in a recent announcement.
“Cape Cod 5 is grateful for the strong connections that we have with individuals and businesses based in town, and this significant investment in our Orleans Banking Center is representative of our commitment to continuing to effectively serve this special community,” Matt Burke, chairman and CEO of Cape Cod 5, said in a statement.
The expansion of the branch and sale of its location at 20 West Road will allow for all banking services offered to clients and community members to be centralized, the bank said. Personal and business banking, commercial and residential lending and wealth management will take place in one location. After the renovation of the Orleans branch is completed, the bank will lease back some of the office space in the building for its trust and asset management and commercial teams.
“At La Tanzi, Spaulding & Landreth, we are thrilled to deepen our longstanding relationship with Cape Cod 5 through the acquisition of the 20 West Road property,” Christopher Ward, managing partner at La Tanzi, Spaulding & Landreth, said in a statement. “This opportunity allows us to continue enhancing our services and solidifying our 55-year legacy of providing quality legal counsel in a prompt and personal manner. We are committed to the future success of our firm and to the ongoing collaboration with Cape Cod 5, which has been an integral part of our growth and community involvement.”
