Berkshire Bank, based in Pittsfield, has purchased property in Westborough for $1.65 million with plans to open a new financial center there, a spokeswoman confirmed today.
According to the Worcester County Registry of Deeds, the bank purchased the 5.8-acre site of a former Friendly’s restaurant at 303 Turnpike Road from Bob Evans Farms Inc. on Aug. 29. Documents show Friendly Corp. began leasing the property on the Westborough-Northborough line from Bob Evans in May 2004 and had planned to do so until 2014, but was one of several Friendly’s shut down after the company filed for Chapter 11 bankruptcy protection last fall.
Lori Gazzillo, assistant vice president of community relations for Berkshire Bank said the bank plans to renovate the 6,110-square-foot building that’s on the site, but it was unclear when the new branch will open.
The bank, which has operations in Massachusetts, New York and Vermont, launched a commercial banking team in Westborough late last year. Gazzillo said the team has been well received and, “as customers continue to respond positively to our unique approach to banking and brand, we will continue to expand into areas where our talented people have had success in the past.”
Berkshire reports having more than $4 billion in assets among its more than 60 branches in the three states.
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