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| The new bank branch will be in the left half of the building |
Construction recently started on a
New Salem Five Saving Bank branch at
285 Great Road which is the former location of the Travelodge Motel. Construction of the building is expected to be completed later this fall. The new bank includes a drive through. The new building will also have about 1600 additional square feet of rental space available for retail or office use.
It's interesting to note that while the size of this new bank branch is only about 2,000 square feet (which is smaller than average for freestanding branches), this follows the industry trend of smaller bank branches. During the last 10 years the average size of a new bank branch has decreased by about 25%.
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