Cape Cod 5 Announces Expanded Building On Route 6A, Sale Of West Road Property

ORLEANS – Cape Cod 5’s Orleans banking center is one of the bank’s oldest and busiest. But the bank’s president, Bert Talerman, said last week that the branch as currently sized isn’t built to support the demand from the community.

“It’s a beautiful facility, and at the same time it’s undersized,” he said. “We have for a while now been well aware that we need to invest in that facility to provide a better customer service experience for our employees who work as well as our customers.”

After setbacks brought about in part by the COVID-19 pandemic, Cape Cod 5 is ready to expand its footprint at 97 Route 6A to better centralize its Orleans operations. That includes folding in operations from its property at 20 West Rd.

“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, the bank’s chairman and CEO, said in a statement.

Talerman said the bank plans to expand the current Route 6A building by “a few thousand square feet'' to better serve its customers. The interior of the existing building will be redesigned with a new lobby, while the expansion will allow for more meeting and office space.

“Our customers can have access to all of the banking services in that facility in an efficient and comfortable way with appropriate privacy and everything that is important about a banking interaction,” he said.

Cape Cod 5 is also in the process of selling its building at 20 West Rd., which currently houses the bank’s wealth management services. Those operations will be relocated to the expanded property on Route 6A, Talerman said.

The bank is under agreement to sell the West Road building to the local law firm La Tanzi Spaulding and Landreth, and Talerman said he expects that deal to be finalized by year’s end. Bank staff will still have access and use of the property until the sale is complete, but Talerman said the decision to downsize the bank’s local footprint is one that makes practical sense.

“The world changes, and in a post pandemic environment when work is much more fluid and people aren’t in the office as much, that building doesn’t have the use that it used to,” he said of the pending sale.

“At La Tanzi, Spaulding and Landreth, we are thrilled to deepen our longstanding relationship with Cape Cod 5 through the acquisition of the 20 West Rd. property,” Christopher Ward, the law firm’s managing partner, 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.”

Talerman said Cape Cod 5 plans to begin the process of securing local permits for the project through the town soon, adding that the expanded Route 6A site will be designed in keeping with the town’s local character.

“Obviously we’re excited about working with the town,” he said. “The town has been very supportive of us in the past, and we expect to be presenting something that they will be happy with and that will be good for the community.”

Email Ryan Bray at ryan@capecodchronicle.com