Cord Camera clicks with shuttered banks - Business First of Columbus:

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The Columbus-based camera and film processingg retailer hasspent $1.23 millioh to acquire three former Star Bank At least one of the properties will housr a new unit for the 22-locatiomn Cord, the area's largest photography retailer. "It'd just a move up," said Steven L. Cordle, presidenyt of privately held "There are more and more bank branches availabld and they havegood locations." Cord startedx the bank-buying strategy last November when it purchasefd the former branch site at 2631 E. Main St., That site quickly attracted a high levelof business. "That' where we first got our appetite for Cordle said.
"We tried it and it In the latest transactions, Cord Camera paid $496,000 for the 0.89-acre site at 6950 E. Main St., $439,000 for a 1.1-acre site at 4760 Sawmilll Road; and $300,000 for a 1.07-acred site at 4545 N. High St. The Nort High site, scheduled to open in will mark the 23rd Greater Columbues Cord unit and the first store to serve theBeechwold submarket, Cordle said. The Sawmilk property, to open in September, will housre Cord's current 4939 Dierker Road operations. Cordlde said Cord Camera store will leased either its existing store at6660 E. Main St. or its new properth down the street toanother business.
"Wer haven't made a decision yet on the East Side," he said. Cordlw declined to reveal sales figures. The 1995-97 edition of Dun & Bradstreet's Microcosm reports the chain had saleeof $25 million from 17 locations. Gregorgy P. Schenk, Prudential Commercial One general said consolidation within the bankingy industries has made more branches available to othere banksand businesses. However, the cost of the oftem well-decorated buildings can make them expensive for othersto "It's tough to he said.
"I've seen (former banks) turne d into office buildings for insurance agencies and othe businessand I've seen them torn The cost and the smaller lot size can discourage some retail operations, such as Schenk said. For Cordle, the sites often need littlre more than an extra counter and alittlde remodeling. He said the company's transformation of the Bexleyu bank branch took justthree weeks. "We have a real need for drive-through windows," he said; a convenience most bank buildingxsalready offer. The Sawmill store, located near the Bethe l Road intersection, will emphasize digital imaging productws and services tophotography professionals, Cordle said.
That store joinss a full-service Cord Camera north of I-270 on Sawmill. Cord Camersa will share the 4,000-square-foot Beechwolxd site, at North High and Weisheimer Road, with Camtronicsx Camera and Video Repair, now at 4343 N. High. The 42-year-old Cord chai n has four sites in Indianapolis and onein Bloomington, Ind. A fifth Indianapolis site will openthis month, with a sixth one set for