Development Opportunity Site | 2 Parcels | 13,914 SF
Boston Realty Advisors is pleased to present the exceptional opportunity to acquire 236 Pearl Street, a two (2) parcel site containing a total of approximately 13,914 square feet of land with an existing industrial building, in Somerville, Massachusetts. 236 Pearl Street presents a unique development opportunity located steps from the soon-to-be revitalized Gilman Square, boasting a new Green Line T station stop. The offering currently provides an existing industrial structure for short-term cash flow and leasing opportunities. The building has high ceilings with garage door access, ample power for heavy machinery and great accessibility to route 93 via route 28. As a development site, this opportunity allows for early entry into a rapidly changing square of Somerville with an existing structure that remains appealing to R&D/Technology tenants.
Somerville, Massachusetts is considered to be one of the most active and transitional submarkets of Boston, MA. With the recent lease signed by PUMA at Assembly Row – 150,000 SF of the phase 3 construction project that will total 2MSF when fully completed – and a complete re-zoning of the city expected by the end of 2019, Somerville is quickly becoming one of the most sought after submarkets of Boston for development. One of the many catalysts for Somerville’s emergence is the MBTA Green Line extension with its most recent completion date anticipated in 2021. The extension will provide easier transit into North Station for Somerville residents as well as more accessibility for residents and workers throughout the city.
236 Pearl Street is offered for sale on an un-priced basis. We will be conducting tours of the property with a “call-for-offers” to follow.