The Santander building in downtown New Bedford has been sold.

The Standard Times reports the property at 128 Union Street was sold for $3.1 million in a sale that closed last week.

The buyer, James DeMello of Dartmouth, says the bank will stay in the building, telling the Standard Times the building will be a business and educational center.

DeMello is the former President and CEO of Acushnet Rubber Company.

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