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Posted: 5/14/2018
Major auction of bank branches in up to seven states set for Winston-Salem auction
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WINSTON-SALEM, North Carolina (May 14, 2018) -- Nineteen bank branches in seven different states will sell at auction Tuesday, May 31, with John Dixon & Associates conducting the auction. Thirteen of the branches will sell absolute, with no reserve.

The auction will include five branches in North Carolina, five branches in Virginia, three in Pennsylvania and two in Arkansas. Other branches are located in Tennessee, Mississippi, and South Carolina. Among the North Carolina properties are branches in Hickory, Denton, Maggie Valley, Broadway and Coats.

“The Wall Street Journal recently reported that banks are closing branches at the fastest rate in decades due to customers’ increased use of smartphone apps, websites and ATMs. This auction, which includes branches offered by two large regional banks, allows them to get these empty buildings off their books, while providing quality locations for other banks, credit unions and other businesses,” said John Dixon, president of the auction company.

“Most of these are quality buildings in locations with good traffic. Even as the big banks close branches, many other businesses are growing and in need of quality space. Of course, most of these buildings can be adapted for a wide range of uses, including office space, retail and even food service. Some buyers will probably get some great deals on these, because most are selling with no reserve. Getting these branches sold will open the way for new businesses and help the local economies,” said Dixon.

The auction will begin at 11 a.m. at the Marriott Winston-Salem, 425 North Cherry Street, Winston-Salem, N.C. Remote Internet bidding available by prior arrangement. Individuals seeking additional information may visit www.johndixon.com or call 800-479-1763. 
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