CNB commits to Camana Bay

Cayman National Bank announced this week it will lease office and commercial space in the Town Centre of the Camana Bay development.

All together, CNB along with Cayman National Trust and Cayman National Securities will occupy some 30,000 square feet of space.

In addition to taking office space in the Financial Centre building, Cayman National Bank will open a 5,000-square-foot, full-service branch in the Town Centre.

President and CEO of Cayman National Corporation Stuart Dack said the move would not affect any of CNB’s other locations.

‘Our customers may rest assured that their favourite CNB branch and ATM locations will remain as they are,’ he said.

Mr. Dack said his company was looking forward to expanding its business to Camana Bay.

‘These new offices will accommodate our expanding mutual funds department and trust and company management businesses, as well as Cayman National Securities.’

Dart Realty’s Chief Operating Officer and Director Mark VanDevelde was pleased to welcome CNB.

‘From the very first meeting with Cayman National, we could see that they shared the vision and belief in the Town of Camana Bay,’ he said. ‘In addition to adding another convenient branch for their existing customers, we are also looking forward to partnering with them on the many benefits that they can offer our future customers.’

The Financial Centre building will be located in the Camana Bay Town Centre east of the Esterley Tibbetts Highway in George Town.

The four-storey, 85,000 square foot building is scheduled for completion in the first quarter of 2007.

There is a multi-storey 239-space parking structure being built next to the Financial Centre for use by tenants and customers.

CNB will share the building with anchor tenant Ernst & Young,

Camana Bay is a 300-acre, mixed-used, master planned community that extends from Seven Mile Beach to the North Sound.

Phase I will have more than 400,000 square feet of built-out space including six restaurants, residential apartments, commercial offices, a school, and a variety of retail and entertainment venues including a multiplex cinema.