By Laura Lovett
New England Mobile Book Fair’s former home is now on the market. The iconic warehouse at 82-84 Needham St. was home to the book store for five decades before Mobile Book Fair owner Tom Lyons decided not to re-up the lease in March, explaining the rent was too high. Currently, Boston Realty Advisors is soliciting offers for the property, according to the property listing.
The 31,160-square-foot building is zoned for Mixed Use 2. The overall lot size is 63,416 square feet or 1.46 acres, and has 101 parking spaces, according to the listing. The property is assessed at $3,021,900 and was last sold in 2012 for $100 to Indian Ridge INV LLC, according to the city’s accessing database.
Jeremy Freid, managing director at Boston Realty Advisors, said there are really three ways the property could be used: Someone could buy it and run a business, similar to what the NEMB was doing. Secondly, a developer could use some of the existing building structure but add; thirdly a developer could come in and start from scratch.
The property is located in the Newton-Needham Innovation District, which has seen a significant amount of development in the last few years. About 40,000 cars pass through the area a day, according to the property listing.
“I’m not sure what will end up in the lot, but really the sky’s the limit,” said Greg Reibman, president of the Newton-Needham Regional Chamber. “Needham Street is poised to undergo a significant transformation as part of the N-Squared Innovation District. Boston Ballet will soon be training the next generation of dancers here. NewTV is already here and has become a pioneer in original programming and commercial production. Northland Development Corp. has great plans to bring innovative companies to that historic mill building at the corner of Oak Street and to add apartments and shops that will transform the entire area. And, of course, the state and the city are working right now on a redesign of Needham Street that will make this area much more walkable and bikeable.”
On the listing the real-estate company said the property could be used in a number of ways including retail, office, lab, medical, hotel and multi-family uses.
The New England Mobile Book Fair has moved to a new home in the Marshall’s Plaza, which is a much smaller space.
Read full article here.Tags: N2 Corridor, New England Mobile Book Fair