Search
 

Gift Association Takes 80% of Redeveloped R&D Building

BILLERICA, MA-New Boston Fund leases up 80% of the two-story, 138,988-sf former research and development building at 1000-1200 Technology Park Dr. that it acquired from Archon Atlantic. The firm is investing nearly $12 million to redevelop the facility.

By Naomi Grossman | Updated on August 12, 2004

BILLERICA, MA-New Boston Fund has leased up 80% of the two-story, 138,988-sf former research and development building at 1000-1200 Technology Park Dr. that it acquired for $5.5 million from Archon Atlantic. Vendors associated with the Gift and Decorative Accessories Center Association Inc.–known as the Northeast Market Center– have agreed to lease space in the facility. So far, about 40 crafters and other gift manufacturer’s representatives will be moving in the fall.

New Boston Fund, the Boston-based real estate investment, development and management firm, made significant renovations to the former office/research and development building formerly occupied by Nortel Networks. The firm expects to spend $5 million enhancing the building for a total investment of close to $12 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.