Unity Bancorp in Clinton, N.J., has bought its corporate headquarters building for $4.12 million.
The $1.1 billion-asset company bought the property from Clinton Unity Group LLC, a group of local businessmen that includes Unity Chairman David Dallas and his brother, Robert Dallas. The sale closed on March 9, according to a regulatory filing Tuesday.
Unity had previously leased the three-story, 20,000-square-foot building. Buying the property fits into Unity's strategy of owning instead of leasing its facilities, the company said in a news release. Unity now owns 12 of its 15 properties.
“Property ownership maximizes financial efficiencies,” Chief Executive James Hughes said in the release.
Windels Marx Lane & Mittendorf was legal counsel to Unity on the purchase.