First Bank Plans Expansion in Trenton and Pennsylvania
First Bank has announced plans to open new branches in New Jersey and Pennsylvania this fall, with a focus on providing enhanced convenience and service to retirees, families, small businesses, and entrepreneurs.
The new branches will be in Trenton, New Jersey, and Media, Pennsylvania, and are intended to reinforce the community bank’s commitment to its neighborhoods by expanding access across its footprint.
“We at First Bank are excited to expand our quality banking services throughout our footprint,” said Patrick L. Ryan, president and CEO. “Our focus is on providing personalized banking and genuine relationships our customers can trust. By listening closely, asking the right questions and offering tailored solutions, we prioritize solving problems, not selling products. Our clients have direct access to top decision-makers, and our market executives are empowered to build meaningful, lasting relationships. This is what defines us as a true community bank.”
Ryan says both locations were chosen because they are central to their respective counties. Media is the county seat of Delaware County and fits perfectly with the bank’s strategy of establishing branches in vital central locations. He says the Media branch will be located at 22 West State Street and will lay the groundwork for further expansion throughout Pennsylvania’s southeastern corridor.
The other new branch will be strategically located in Trenton, the county seat of Mercer County, right next to First Bank’s headquarters in Hamilton. This branch will bolster First Bank’s presence in New Jersey’s capital. According to Ryan, this expansion deepens the bank’s community connections and broadens its reach across the state.
“As a community bank, we are dedicated to meeting the diverse financial needs of the communities we serve, supporting small business success, engaging in community service through volunteer efforts and adopting environmentally responsible practices,” Ryan says.
Furthermore, as part of the strategic review of the existing branch footprint, the Bank will be closing the branch located at 940 Baltimore Pike, Glen Mills, Pennsylvania.
More information: firstbanknj.com or firstbankpa.com.
Commercial Real Estate News
Avison Young and Velocity Venture Partners have arranged a long-term lease renewal with national credit tenant, Fortis, at 2572 Brunswick Pike in Lawrenceville. The 29,643-square-foot lease stems from action taken by Velocity Venture Partners to renovate the property positioning it as an ideal headquarters-level location for a wide variety of occupiers. The newly renovated, former pharmaceutical manufacturing facility has 168,036 square feet of available, divisible space along with 27,514 square feet of occupied space and can accommodate manufacturing, warehouse, and distribution tenants.
Velocity Venture Partners, as landlord, was represented by Jim Scott, Principal, and Chris Winnick, Associate, both based in Avison Young’s Philadelphia office. Fortis, as tenant, was represented by Brendan Kelley, Principal, who is based in Avison Young’s Philadelphia office and Darren Shibuya of Mohr Partners.
“In addition to the renewal with Fortis, we are seeing more international companies establishing or expanding into the US,” said Scott. “New Jersey in particular, is well-positioned to attract this international activity due to its proximity to major ports, access to I-95, and densely populated areas. The region’s diverse talent pool and access to New York City further amplify the area’s appeal for international firms seeking capital raises and strategic partnerships, which is one of the driving forces behind the renovations at 2572 Brunswick Pike.”
Velocity Venture Partners acquired 2572 Brunswick Pike in September of 2023 and launched a comprehensive renovation campaign to whitebox units for industrial users across all industries and an infrastructure which provides flexibility to deliver immediate occupancy to a range of tenants, who can further divide or improve their space according to specific needs. Renovations include upgraded climate control systems, heavy power access, expansive paved areas for car and trailer parking, and is well-located near major thoroughfares. The site encompasses 15.43 acres.
“Fortis has been a bedrock tenant at 2572 Brunswick for many years, and their suite of training programs, especially for building trades, are a great complement to the industrial users we are aiming to attract,” said Tony Grelli, Founding Partner, Velocity Venture Partners. “We are thrilled to partner with Avison Young to secure this long-term extension and look forward to capitalizing on the building’s significant infrastructure to accommodate what will likely be a mix of manufacturing and warehousing tenants.”
