The property, originally known as Center Square, was developed in the early 1980’s by a subsidiary of the former SIS Bank. Colebrook has managed and leased the property for the past forty years since its opening in January 1982. Colebrook partners Mitch Bolotin and Kevin Morin have had the responsibility for leasing and managing the TD Bank Center.
Mayor Sarno states, “CDO Tim Sheehan and I applaud Jack Dill, Mitch Bolotin, Kevin Morin, Jeb Balise and their respective teams for their continued belief and investment in our Springfield. This purchase of our iconic downtown mixed-use office building will assure that the property remains under local ownership and control – which is so important. Additionally, my administration looks forward to working with the Colebrook and Balise team as we continue to strive to enhance our downtown businesses and office tenants as we continue to move our local economy forward post-COVID-19 pandemic. Stay tuned for more exciting announcements.”
CDO Sheehan stated, “Local ownership of this important commercial asset in the heart of downtown is important because it reflects the deep understanding that both Colebrook and Jeb Balise have of the Western Massachusetts real estate market. Further, the purchase defines their collective commitment to the future of the downtown office market and ensures that future leasing decisions for the property will be made locally through direct interaction with people who have had a long history with the building.”
Colebrook President Jack Dill said that the opportunity to buy the building was a capstone to their long and productive relationship with TD Bank and its predecessors. “We are grateful for the trust and confidence TD has in this partnership going forward, evidenced by the long term lease commitment it made and we intend to keep the TD Logo prominently displayed on 1441 Main Street. In addition, we are excited to invest with Jeb Balise in the landmark building and look forward to developing new work spaces on the Mezzanine Level aimed at the post-COVID working environment.”
“Our team is proud to be partners with Colebrook in a special building right in the heart of Springfield’s downtown,” said Balise of the purchase.
“Another key element in the group’s decision to buy 1441 was the longstanding relationships with our tenants and the great people who provide services to them every day: our office, maintenance and security staff. This is really a small community where all faces are familiar, even if masked at present,” Dill added.
Terms of the purchase were not immediately disclosed.