WALTHAM, MA- Public Storage Inc. purchased the Fotobeam/IKON site here on 260 Lexington St. The six-acre parcel had a number of constraints that eluded various developers who attempted to build on the site.

“A number of developers have tried to do something on this site but nothing seemed to work,” Tim Lescalleet, principal and executive vice president of The Codman Company, tells GlobeSt.com. Lescalleet represented the seller, Deacon Realty Trust, in this deal.

Hotels, apartments, assisted living facilities, corporate offices and a number of retail concepts were among the development scenarios attempted here. Stop & Shop and Starmarket both tried to develop grocery stores here but to no avail. Part of the problem stems from the two-lane street running outside the property that raise traffic concerns with any major development here. The back of the site abuts a residential area that also makes development tricky. And then there are the two acres that are considered wetlands.