Leader Bank Takes over Former BOA Belmont Branch After $2.825 Purchase

Belmont — Newman Properties and New-Bar LLC sold the former Bank of America building at 72 Leonard Street in Belmont to Leader Bank for $2,825,000. The ownership acquired the downtown property in 2023, intending to secure a long-term commercial tenant.

Through a release, Newman acknowledged the symmetry and lauded Leader Bank as an ideal suitor to take over and bring it back to life in the vibrant downtown Belmont area.

Positioned at the focal point of Belmont’s central business district, the 4,528 SF retail asset was built in 1990 and features a dedicated drive-thru, strong frontage, and substantial foot traffic - making it an ideal long-term expansion opportunity for growing financial institutions.

Tucker Real Estate Advisors and Atlantic Retail, along with attorney Jessica Heywood of Dwyer Goncalves, guided the transaction for Newman Properties.