On Aug. 27, residents of Westborough who attended a public hearing expressed their happiness at the bargain price that they believe that they’ll receive when their town buys the former state hospital. The real estate purchase involves the sale of 95 acres of property for $2.2 million; as much as half of the income from…
Massachusetts storage center expected to spur redevelopment
Massachusetts business investors and others who view re-zoning as a means to spur economic growth will be interested to hear of the proposed plans for a new development in Pittsfield. The owners of what was once Pittsfield Plaza at 434 W. Housatonic St. (Route 20) have introduced plans for a new self-storage facility and remodeling…
Massachusetts towns offer incentives to move real estate
Massachusetts government officials in several towns closed a number of large deals that mean occupied real estate buildings in the future, but other buildings still sit empty, some of them for years. While leaders report that the commercial real estate market is improving, some of the properties can be hard to match with possible owners….
Commercial real estate sales are strong
The Mall at Whitney Field, a Massachusetts mall foreclosed upon in 2010, has been purchased by Vintage Real Estate in a commercial real estate sale. The Mall at Whitney Field was first built in 1967 and was sold last in 2007 for $82 million. However, the lender was forced to foreclose upon the loan in…
Boston building sells for $100 million
One of the largest recent commercial transactions in Boston transferred ownership of the 11-story office building located at 40 Broad Street in the Financial District. TIAA-CREF purchased the building in a real estate sale reported to have totaled $110 million. The building was purchased in 2006 for $50 million by Transwestern Investment Company in Chicago….
Massachusetts business plans to occupy two spaces in mall
ZYP Fitness Plus plans to occupy two separate locations in the Hanover Mall. The company, which started in the basement of the owner’s home, started in 2009 when she wanted to teach a Zumba class. The owner began teaching the class on a weekly basis with as little as nine participants. Within a year, business…
Medway Business Council discusses expansion
Business Council will meet in March 2013 to discuss new expansion planned for the town. Two people who will speak with the council are the commercial real estate developer in charge of the building of Tri Valley Commons and the economic development director. These two speakers will provide a synopsis of both economic development efforts…
Boston Scientific plans to relocate global HQ
Boston Scientific officials met with the Marlborough City Council recently to announce plans to move the company’s global headquarters to the city. Because this commercial real estate site is currently zoned partially as green space, the company is asking the council to change the zoning code so that the new building can be erected without…
New hotel finds Boston space thanks to eminent domain
Experienced real estate developers know that the purchase of commercial real estate for construction projects can be difficult once owners realize there is interest in their property. The Massachusetts Convention Center Authority discovered this recently as it ventured into the Boston real estate market. The success of the Boston Convention & Exhibition Center in the…
Framingham aims to clean up and crack down in neighborhoods
A new Unified Code Enforcement Task Force consisting of fire, police, public works, building and health agents are pulling together to create a team approach for cleaning up the Framingham community. The group will focus on conducting field inspections and enforcing bylaws. The goal is to improve the quality of life and decrease fear and…