Photo | Courtesy of Kelleher & Sadowsky
The Guaranty Building at 370 Main St. in downtown Worcester
July 19, 2024
TD Bank closes downtown Worcester branch in Guaranty Building, which now has 84% occupancy
Image | Courtesy of Google Maps
TD Bank has closed its branch location at 370 Main St. in Worcester.
TD Bank has closed its branch in the Guaranty Building at 370 Main St. in downtown Worcester, leaving the 53-year old office building with another vacancy.
The New Jersey-headquartered financial institution notified federal regulators of the closure on April 11, according to U.S. Office of the Comptroller of the Currency records. The shutdown of the branch was part of a wider closure of 27 branches across 11 states and Washington, D.C., according to FinanceBuzz.com.
A sign posted on the bank’s door on Friday notified customers of the closure, pointing them to other nearby TD Bank branches at 295 Park Ave., 500 Grafton St., and 1227 Main St. in Worcester.
The company will continue to have a presence in the building, including offices on the fourth floor for its commercial and small business banking teams, according to Martha Gaston, vice president and senior corporate communications manager at TD Bank.
TD Bank's branch joins longtime tenant Fletcher Tilton as firms which have exited the building since 2023; the 202-year-old law firm moved into the former Telegram & Gazette offices at 100 Front St. in June 2023.
Fletcher Tilton lawyers Phillips Davis and Sumner Tilton once managed an entity which owned the building, but sold it for $9.93 million in 2014 to 370 Main Street GBB LLC, an entity managed by Cortland Commercial of Sterling.
The former branch location at the 13-story office building is among nine spaces listed for lease on LoopNet.com. The combined listed square footage available for lease equals 31,663 square feet, which accounts for approximately 16% of the 198,180 rentable square feet in the building. The largest area available for lease is 15,475 square feet of office space on the building’s fifth floor.
The building is managed by Guaranty Management, a firm based in the building which manages a number of other properties in Central Massachusetts, including nearby 10 Mechanic St. in Worcester and 1400 Computer Drive in Westborough.
The property was given a tax assessment value of $11.95 million in 2024, according to City of Worcester property records.
TD Bank, an American subsidiary of Canadian multinational firm TD Bank Group, is the second largest bank in Central Massachusetts, with local deposits of $3.8 billion as of June 30, 2023, according to the WBJ Research Department. The bank has $369.9 billion in assets as of March 31, according to data from the Federal Deposit Insurance Corp.
With this closure, TD Bank now has 20 branch locations in Central Massachusetts.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
CLARIFICATION: This article has been updated to clarify that TD Bank will continue to have some presence in the Guaranty Building.
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