According to Jose Juvez, spokesperson for Massport, the Brownfields Redevelopment Corp. will actually purchase the site from El Paso, clean it up and then sell most of the parcel to Massport. Juvez tells GlobeSt.com that the purchase price for the parcel is not yet decided.
Massport wants to preserve the property for maritime use, notes Juvez. The land is adjacent to the Conley Container Terminal and sits on the edge of Deepwater Berth. Its location enables it to be able to handle large container ships. The land will be used as a port and warehouse facility by Massport.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.