In $3.15 million deal, Bay State Savings Bank buys former Becker College Student Center

WORCESTER — A former Becker College building at 44 West St., most recently used as a student center for Worcester Polytechnic Institute, was bought by Bay State Savings Bank for $3.15 million, according to the real estate broker.

The brick building at 44 West St. abuts Cedar Street and is about 19,000 square feet, according to property records.

Bay State bought the property from city developer Russ Haims, who acquired the property in a 27-property deal of $10 million in 2021.

The school closed earlier that year due to financial struggles caused in part by the pandemic.

Following the multiproperty purchase, Haims leased out several of the properties to WPI.

James Keogh, vice president of NAI Glickman Kovago & Jacobs, the real estate broker in the latest deal, said Haims placed the property for sale after the end of WPI’s two-year lease.

Bank not detailing plans

Asked if the real estate deal could impact Bay State's presence in downtown Worcester, bank officials referred questions to Bay State President and CEO Seth Pitts.

Despite repeated attempts to reach Pitts by email and in person, he did not respond to inquiries from a Telegram & Gazette reporter.

According to reports by the Worcester Business Journal , the bank is planning to expand its presence to the building. Plans have not been revealed.

Pitts told the business publication that the bank will continue to be headquartered at 28 Franklin St. and that its branch at that location will remain in operation.

Becker building background

Dating to 1986, the building was initially known as the Becker College Student Center. It was later known as the Boutin Center.

“This property holds countless cherished memories for the community,” Keogh said in a statement. “We are deeply satisfied knowing that it will continue to be a place of connection and service under the stewardship of a local institution committed to furthering its legacy as a cornerstone of the city’s business community.”

Keogh said he wasn’t at liberty to publicly comment further on the property’s future.

Bay State was founded in 1895 with offices at 476 Main St. in a since-demolished building to the right of the current Denholm's building.

It has been headquartered at 28 Franklin St. since 1956.

This article originally appeared on Telegram & Gazette: In $3.15 million deal, Bay State Savings Bank buys former Becker College Student Center