Middlesex Saving Bank Opens 80,000-SF Expansion

WESTBOROUGH, MA-Middlesex Savings Bank, whose founding roots go back 171 years, has added an 80,000-sf operations center here, expanding from its 42,160-sf, three-year-old facility in Natick. The existing four-story operations center on Summer Street will continue to house other operational departments.

Bank representatives couldn’t be reached by GlobeSt.com’s publication deadline to learn the development cost of the new facility. However, construction sources familiar with comparable projects tell GlobeSt.com the hard construction cost is probably in the $200-per-sf range or about $16 million. “Banks require security features not usually found in normal office buildings and that drives up the overall development cost,” says an industry source.

The new center at 120 Flanders Rd. will house 150 employees and will include a new data center with a backup generator, UPS system and a training center. Bruce Weisberg, the bank’s senior vice president of property administration, and Bob Keeley, president of Diversified Project Management, represented their firms on the construction contract.