Charles River Bank buys Mendon branch land for $2M
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Charles River Bank bought the land on which its Mendon branch is situated for almost $2 million.
Medway-based Charles River Bank purchased the land at its Mendon office on 1 Hastings St. for $1.9 million, according to the Worcester South District Registry of Deeds.
An entity registered to Charles River Bank President and CEO Jack Hamilton, along with several members of the board, bought the 1.3 acres of land upon which the branch is located.
The bank designed and constructed the 7,300-square-foot Mendon branch and professional office space, which is leased to local businesses, in 2009. The bank has been in a long-term land lease, said Ann Sherry, a spokeswoman from Charles River.
The land was sold by Judith Leonelli, who is a trustee of Hastings Properties Nominee Trust. Leonelli bought the property as a trustee in 1999 for $270,000. The Town of Mendon assesses the property at $1.45 million.
Charles River Bank has two other locations in Medway and in Bellingham.
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