East Boston Savings Relocates Corporate Headquarters

PEABODY, MA-East Boston Savings Bank has relocated its corporate headquarters from East Boston to a 36,000-sf two-story building on the North Shore. The company is leasing its previous headquarters, which the company vice president of marketing, Wayne Texeira, tells GlobeSt.com was “significantly smaller.”

Texeira says that the bank outgrew its previous location more than two years ago and looked in East Boston for over a year for a two-acre parcel on which to develop a new building. “There just wasn’t any location to support the space we needed,” he notes. “Then we came upon this site near the North Shore Mall.” This city, he notes, has been part of the bank area served for a number of years so “it still made sense to be in this community.”

The new building, which the bank built at a cost of $10 million, features a unique building material, Alphaton, that Texeira points out has been used on only one other building in the country. The building will also house a retail branch.