Gutierrez Cos. Shows Faith in Greater Boston Market With Purchase of 560 Acres

NORTHBOROUGH, MA-Gutierrez Cos. has purchased 560 acres here, providing further indication that worries over a slumping economy have not dampened investor interest in the Greater Boston commercial real estate market. The deal was reportedly done for more than $14 million, but the company would not confirm that number.

Daniel Clarey, project manager at Gutierrez, tells GlobeSt.com that the commercial real estate development company plans to develop class A office buildings on the site. “This is ground zero for the high tech market,” adds Clarey. “There are large tracts of land for campuses here and there aren’t many properties like that left.” The property is located about 25 miles west of the city near Route 495. Compaq, 3com and Fidelity are some of the larger companies with offices here.