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NEWS & PRESS

05.06.2014
BOSTON BUSINESS JOURNAL - Shuttered Bank of America branch in Upham's Corner to be auctioned

Thomas Grillo, Real Estate Editor

BBJ Real Estate Daily

The former Bank of America branch in Dorchester's Upham's Corner neighborhood will be sold at auction next week regardless of price to the highest bidder.

Located at 555 Columbia Road, the 5,159-square-foot, two-story building was built in 1917 as a bank. It occupies most of the 8,251-square-foot lot with no parking spaces.

Acquired by the bank in 2000 for $996,386, it is assessed at $1 million.


Justin Manning, the auctioneer of JJ Manning Auctioneers of Yarmouth handling the sale, said the bank had tried to sell the branch previously, but was unsuccessful.


The branch closed in March. A Bank of America spokesman said the bank has four other Dorchester locations, including one at 1104 Massachusetts Ave. in the South Bay Center.


"Based on foot traffic and other metrics, we determined that we could continue to effectively serve our customers with one less location in town," said T.J. Crawford.


Potential buyers can tour the bank on Thursday, May 8 at 11 a.m., and one hour prior to auction that has been set for Friday, May 16 at 2 p.m.


Manning said the sale is an "absolute auction," meaning the building will be sold at that time regardless of price.