Westborough retail, office plaza sells for $11M
Photo | Jason Hughes, courtesy of Grossman Development Group
Bay State Commons in Westborough
Bay State Commons in Westborough was sold for $11 million to a Framingham development partnership.
The buyer is a corporation, BSC RE Owner LLC, registered to Howard Grossman and Mark Reardon. Grossman is principal at Framingham’s Grossman Development Group, and Reardon is principal at Equity Industrial Partners in Needham.
The 260,000-square-foot development includes a Roche Bros. supermarket, a Reliant Medical Group location, and a Panera Bread cafe. It offers retail and office space and was designed to provide a Main Street-style shopping experience in downtown Westborough, according to Westborough architect WDA Design Group.
“This property has enormous potential to create a compelling downtown destination and gathering point for Westborough and the surrounding communities,” Jeremy Grossman, principal of Grossman Development Group, said in a Wednesday press release.
The developer plans significant investment in property improvements, including new sidewalks, upgraded landscaping, signage, and community-focused events, according to the press release. Grossman partnered with Worcester real estate brokerage Kelleher & Sadowsky Associates to lease out the remaining spaces in the plaza.
The sellers were tenants in common PL Westborough LLC of Great Neck, New York, an affiliate of Philips International in Great Neck, and Westborough Harvest, LLC of Rochester, New York, registered to personnel with Graywood Companies, Inc. of Rochester.
Bay State Commons was built in 2008 on the former site of Bay State Abrasives, according to WDA’s website.
Grossman Development Group built Shrewsbury’s Lakeway Commons, a 375,000-square-foot mixed-use development which features a 50,000-square-foot Whole Foods Market and 250 apartments.
Bay State Commons has currently two spaces available for lease: 11,843 square feet of office space and 31,000 square feet of retail space.
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