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Developer Eyes Junkyard for 640,000-SF Office Park

WALTHAM, MA-Sam Park and Co. wants to construct a two-building, 640,000-sf office park on a 10-acre parcel. The site, which would be developed in a joint venture with Stonybrook Brook Trust, is currently being used as an auto parts junkyard.

By Naomi Grossman | Updated on October 14, 2003

WALTHAM, MA-While most developers are scrambling to figure out how to fill the space they have, Samuel E. Park is happily planning to build 640,000 sf of office space on Route 128 in a city that has seen its office vacancy rates shoot up to over 20%.

“From our perspective, this is the perfect time to build,” Park of Sam Park and Co., tells GlobeSt.com. Permitting a project can take a while, he points out, so that by the time the project is ready to break ground the market will be in a rebound.

Park’s project involves a parcel at the Route 20 interchange that is currently being used as an auto parts junkyard. His company wants to develop the site in a joint venture with the property’s owner, Stonybrook Brook Trust. “They’ve owned [this site] for years,” says Park. “They came to us for help in its redevelopment.”

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