Credit union buys Springfield building for new HQ, Cushman & Wakefield says

Atlantic Federal Credit Union Inc. has purchased a building in Springfield to use as its new headquarters, according to real estate firm Cushman & Wakefield.

The firm said the credit union purchased the 20,000-square-foot property at 45 Springfield Ave. for $3.35 million.

C&W’s Sean Brady and Joseph Harkins represented the buyer in the transaction. The seller was not disclosed.

“It took more than two and a half years to find a property that checked all of the boxes for Atlantic Federal Credit Union’s new headquarters, as the market has been extremely tight for buildings of this size,” Brady said in a prepared statement. “Nevertheless, we are thrilled to have assisted Atlantic Federal Credit Union in its search.”

The two-story, single-tenant property was built in 1955 and sits on 1.4 acres. AFCU has already invested significant capital into improvements, C&W said, from expanding second-floor square footage to a new roof and windows, and more.

The real estate firm said Nouvelle LLC and the Aztec Corp./Aztec Architects LLC were involved in the project, handling site estimates and the redesign, respectively.