TD Bank has placed three of its buildings in South Jersey up for sale.
In a statement from a TD spokesperson, the Cherry Hill-based institution said that, due to the hybrid working model of its teams and colleagues, it realized it can bring more of its people together in fewer, more updated spaces.
“The South Jersey and greater Philadelphia metro market has been TD Bank’s home in the United States since 1973 and will continue to serve as our headquarters. We are proud of our commitment to the region and look forward continuing our longstanding relationship with this community,” the spokesperson said.
“As part of our normal business practices, we regularly evaluate existing TD Bank store and corporate locations. Each team has different work models based on their responsibilities and customer needs.”
The bank said 1701 Marlton Pike E. and 1006 Astoria Blvd. in Cherry Hill, as well as 12000 Horizon Way in Mount Laurel, have been listed with CBRE. Additionally, TD filed to close its retail branch at the 1701 Marlton Pike E. building in Cherry Hill, known as the Atrium.
According to the spokesperson, the sale of those properties will allow the bank to reinvest in other local facilities and its business.
About 1,300 of the bank’s 4,650 employees will be relocated to one of its five other headquarters buildings, which total more than 330,000 square feet.
TD declined to specify the annual cost save from the decision to sell the three buildings.
