Wells Fargo to Relocate to Sunset Location

After 33 years at its prime location on Swarthmore Avenue, Wells Fargo Bank will move to a larger space occupied by its affiliated Wachovia branch on Sunset Boulevard in late April. High-flying Wachovia established a financial service center in Pacific Palisades in September 2008, but the paint on the walls in the newly renovated 5,000-sq.-ft. space was barely dry when the Charlotte-based bank revealed that it was actually in deep trouble. Just weeks later, Wachovia accepted a $15.4-billion buyout offer from Wells Fargo (spurning a rival bid by Citicorp). After Wells Fargo’s acquisition of Wachovia, both banks continued to operate a block apart in Pacific Palisades and residents speculated on which site would survive as the merged branch office. On Tuesday, David DiCristofaro, a Wells Fargo regional president, told the Palisadian-Post that Wells Fargo would move to 15240 Sunset (between Philips French Cleaners and Designer’s Rug Resource). ‘We’re excited about the new location,’ DiCristofaro said. ‘It will give us expanded space to help our customers. We will increase our tellers from six to eight and the number of banker desks from nine to fourteen.’ The current Wells Fargo location has 3,500 sq. ft. The increased desk space will allow Wells Fargo/Wachovia to have a full-time mortgage consultant, financial advisor, business specialist, a private banker and more personal bankers available. In addition, the bank will have room for three ATM’s instead of two and a larger space for safety deposit boxes. The move will also enable San Francisco-based Wells Fargo to retain all employees from both branch banks. ‘The folks working in the Palisades will be working at the new building,’ DiCristofaro said. ‘It will allow us to have the right team members to serve customers.’ According to DiCristofaro, some remodeling will be done to more efficiently use the space on Sunset, which currently has room for four tellers. Protective glass in front of the tellers will also be installed to help deter bank robberies. Elliot Zorensky, co-president of UDO Real Estate, Ltd. and landlord of the Sunset building, said a new sign fully consistent with the Palisades specific plan will replace the Wachovia sign. The new location offers 15 parking spaces for customers behind the building, plus metered parking at the city-owned parking lot (15216 Sunset, adjacent to the Chase Bank building). The move by Wells Fargo will leave five empty storefronts on the 1000 block of Swarthmore, including the spaces formerly occupied by Andana, a la Tarte, The Prince’s Table and Roy Robbins.