Charter Oak Federal Credit Union has purchased 10.5 acres of land along Rte. 85 for $1.65 million. The parcel is within a few hundred yards of a 4-way interchange of I-395. Charter, one the areas largest and most profitable banking institutions will build a 62,000 s/f building to house its new headquarters and a new branch. Ken Bondi of Bondi Commercial Real Estate and Alan Messier of the law firm of Messier & Massad, New London represented the seller, Massad Development, LLC. Norm Peck of Pequot Commercial and Michael Sheehan of the law firm of Conway, Londregan, Sheehan & Monoco, P.C., New London, represented the buyer.