Colonial Bank N.A. has purchased commercial condo in Osprey for $1.45 million.

The space, which is about 2,900 square feet, is at 24 East Bay Street, Unit 11, Building A-3.

The seller was Bay Street Partners LLC.

The property will house Colonial's new branch, which will include three drive-through lanes.

It’s expected to open next year.

Anthony V. Migliore and Paul Klick of Coldwell Banker Commercial NRT represented Colonial Bank ,and Ray Rodriquez of Florida Rays Realty represented the seller.