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Stratouly Seen Buying Prime Hilltop Parcel

FRAMINGHAM, MA-The six-acre parcel at 125 Pennsylvania Ave. here is being eyed as a first-class office park.

By Joe Clements | Updated on April 14, 2008

FRAMINGHAM, MA-Despite being outed in his quest to quietly assemble a large developable site overlooking the Massachusetts Turnpike here, Congress Group founder Dean Stratouly has reportedly secured the key parcel in that campaign. According to industry sources, Stratouly has emerged victorious in a bid to control 125 Pennsylvania Ave., a six-acre property occupied for decades by International Paper Co. Sources could not provide a sales price or when the closing might occur.

Confirmation of the selection was not secured by press deadline, as Stratouly was unavailable and broker Anthony Biette of Grubb & Ellis declined comment, but multiple sources insist that Congress Group survived a spirited competition for the property. Biette and G&E principal Hank Amabile are handling negotiations on behalf of the Tennessee-based owner of 125 Pennsylvania Ave. The paper plant was shuttered last year, and ownership opted to seek a buyer.

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