Rockland Trust is opening its first office in Boston
Rockland Trust, a commercial bank founded in Rockland in 1907, is opening its first office in Boston.
The bank is leasing about 5,000 square feet of space at 101 Arch St., said a broker involved in the transaction. The broker is CBRE/New England, which represented the building’s owner, the real estate investment management firm Clarion Partners of New York, in lease negotiations.
CBRE/New England’s press release included a statement from Chris Oddleifson, president and chief executive of Rockland Trust.
“We are very excited about our entrée into Boston in such a prominent location,” Oddleifson said. “While we’ve served the Boston market for decades, this marks our first physical presence, and we will have seasoned investment management and commercial lending team members at 101 Arch Street as we continue to strategically invest in the growth of our franchise.”
With $5.7 billion in assets, Rockland Trust has nearly 80 retail branches following the completion of its acquisition of Central Bank earlier this year. That acquisition gave Rockland Trust branches in Somerville, Medford, Malden, Arlington, and Chestnut Hill. The bank also has several investment management and commercial lending offices. Boston will be the bank’s fifth investment management office. (No retail services will be offered at the Boston office.)
Clarion Partners is welcoming another new tenant to 101 Arch St.
CBRE/New England said that Boston Financial Investment Management has signed a lease to occupy 37,841 square feet in the building. Boston Financial Investment Management is a national firm in the low-income housing tax credit industry.
The current vacancy rate for 101 Arch St. is 3.6 percent, CBRE/New England said.Chris Reidy can be reached at email@example.com.