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August 4, 2022

Berkshire Bank sells North Windham office for $1M

Google Maps Former Berkshire Bank operations center at 579 North Windham Road, Windham

Berkshire Bank recently sold its 20,000-square-foot operations center in Windham for $1 million as part of a broader repositioning of the company.

The 2.9-acre property and building at 579 North Windham Road – in the North Windham section of town -- sold to Gates Holdings, a limited liability company tied to Gates GMC Nissan, which is also located in North Windham. Attempts to reach the principal of Gates Holdings, Denton H. Gates, were unsuccessful.

In an email to the Hartford Business Journal, Berkshire spokeswoman Alicia Jacobs wrote that the office building is to be converted into an assisted work program and alternative high school. All employees stationed at the bank offices have been relocated to a Willimantic office.

The sale of the North Windham property was part of a broader evaluation of assets, Jacobs wrote.

“As part of Berkshire Exciting Strategic Transformation (BEST) program, the company evaluated its real estate footprint to ensure its physical infrastructure matches its current and projected operating needs based on Berkshire’s ongoing hybrid-working environment, industry standards and shifting employee expectations,” Jacobs wrote.

As Berkshire staff have a “hybrid” work environment, the move will have “minimal impact” on the workforce, Jacobs wrote.

“We’ve completed many office relocations over the last decade with little or no impact to our employees or communities,” Jacobs wrote. “Together, these office optimization efforts will make Berkshire stronger and reduce our environmental footprint further supporting our social and environmental objectives.
In May, the bank put its historic headquarters in Pittsfield on the market, according to the Berkshire Eagle.

Berkshire acquired Worcester-based Commerce Bank for $230 million in 2017, and with it 16 branches and $1.8 billion in assets. The bank concurrently announced a move of its headquarters from Pittsfield to Boston.

Founded in 1846, Berkshire Hills Bancorp. – parent of Berkshire Bank -- has $11.6 billion in assets, 1,300 employees and 105 branches in Massachusetts, New York, Vermont, Connecticut and Rhode Island, according to its 2021 annual report. 

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