NEW BEDFORD, MA — November 2023 — Tri Town Commercial Advisors is pleased to announce the successful sale of the former Santander Bank building located at 909 Ashley Boulevard in New Bedford, Massachusetts.
The approximately 2,500-square-foot commercial property was acquired by a local business owner, with Eric Szczepkowski, Partner and Executive Vice President of Tri Town Commercial Advisors, representing the purchaser. Horvath & Tremblay represented the seller in the transaction.
The acquisition highlights Tri Town Commercial Advisors’ experience in commercial property sales, buyer representation, and identifying opportunities to reposition existing commercial buildings throughout Southeastern Massachusetts.
Former Santander Bank Property Acquired for New Business Use
Located along Ashley Boulevard, an established commercial corridor in New Bedford, the property previously operated as a Santander Bank branch.
Following its use as a financial institution, the building presented an opportunity for a new owner to evaluate alternative commercial uses.
The approximately 2,500-square-foot property offered the purchaser an existing commercial building in a location serving surrounding residential neighborhoods and local businesses.
At the time of the acquisition, the buyer intended to introduce a new business venture at the property, creating an opportunity to repurpose a former banking facility for a different commercial use.
Former bank branches can appeal to a variety of commercial buyers due to their existing building infrastructure and locations within established retail and service corridors. However, potential alternative uses depend on the property’s physical characteristics, zoning, and applicable permitting requirements.
The sale of 909 Ashley Boulevard demonstrates how existing commercial buildings can attract interest from local business owners seeking opportunities to establish or expand their operations.
Commercial Buyer Representation in New Bedford
Tri Town Commercial Advisors represented the purchaser throughout the acquisition of 909 Ashley Boulevard.
For business owners considering purchasing commercial real estate, identifying the right property involves evaluating more than its current or previous use.
Factors such as location, accessibility, building configuration, surrounding businesses, and potential renovation requirements can influence whether a property is suitable for a buyer’s intended operations.
Properties formerly occupied by banks, restaurants, pharmacies, and other specialized commercial users may present opportunities for buyers willing to consider alternative uses.
Tri Town Commercial Advisors assists commercial real estate buyers in identifying potential acquisitions, evaluating property characteristics, and navigating the purchase process.
The completed transaction reflects the brokerage’s experience representing local business owners seeking commercial properties that support their long-term objectives.
Repositioning Existing Commercial Buildings
As commercial markets evolve, properties originally developed for specific business uses may become available for acquisition and repositioning.
Former bank buildings represent one example of commercial real estate that may attract interest from buyers outside the financial services industry.
Depending on the building and local regulations, these properties may be evaluated for professional offices, retail businesses, personal services, or other commercial operations.
For property owners considering a sale, understanding the potential for alternative uses can help expand the pool of prospective purchasers.
Similarly, buyers seeking commercial real estate may benefit from evaluating existing buildings that were previously occupied by businesses in different industries.
The acquisition of 909 Ashley Boulevard illustrates the opportunities that can emerge when existing commercial properties are considered for new business uses.
Commercial Real Estate Sales in New Bedford and Southeastern Massachusetts
The sale of 909 Ashley Boulevard adds to Tri Town Commercial Advisors’ portfolio of commercial property transactions throughout New Bedford and the surrounding South Coast market.
The brokerage works with commercial property owners, investors, developers, and businesses across a broad range of property types, including retail, office, industrial, hospitality, mixed-use, and investment real estate.
Its services include commercial property sales, buyer and seller representation, investment transactions, landlord and tenant representation, ground leases, and development site acquisitions.
Tri Town Commercial Advisors assists clients throughout New Bedford, Dartmouth, Fairhaven, Acushnet, Fall River, and surrounding Southeastern Massachusetts communities.
Whether representing a local business owner purchasing commercial property, assisting an investor with an acquisition, or marketing a property for sale, the brokerage provides market knowledge and transaction experience tailored to each assignment.
Buying or Selling Commercial Property in Massachusetts?
Commercial property owners and business operators considering a real estate transaction may benefit from understanding how location, building characteristics, and potential alternative uses influence market demand.
Tri Town Commercial Advisors assists buyers and sellers with identifying opportunities, evaluating commercial real estate, and facilitating transactions throughout Massachusetts, Rhode Island, and surrounding New England markets.
For more information about commercial property acquisitions, investment sales, or selling commercial real estate in Southeastern Massachusetts, contact Tri Town Commercial Advisors.