Boston Shopping Center to Receive $30M Facelift

Edens & Avant, which owns grocery-anchored shopping centers, has announced a $30 million expansion and improvement plan for the 440,000 sq. ft. South Bay Shopping Center in Boston. The company is collaborating with neighborhood and civic organizations to demolish old warehouse buildings on the site.

Joe Pierik, vice president of Edens & Avant’s Northeast region, says the firm has acquired an eight-acre industrial parcel located along Massachusetts Avenue, adjacent to the 46-acre South Bay Center, and plans to demolish the existing 135,120 sq. ft. building to make room for the expansion.

"The plans we have submitted will expand retail uses into the former industrial space, and allow us to improve portions of the existing shopping center," says Pierik. "Edens & Avant has been working diligently to address community concerns such as site access, appearance, vehicular traffic, pedestrian connections and signage."

Once completed, the South Bay Center will boast roughly 540,000 sq. ft. of GLA. Also, the South Bay Center will include a new 75,000 sq. ft. Stop & Shop, along with a variety of other new retailers.

Please or Register to post comments.

Latest poll

Total CMBS Issuance Volume

There has been $30.3 billion in new CMBS issuance to date in 2013, according to Commercial Mortgage Alert. That puts the industry on pace to smash last year’s volume of $48.4 billion and will make 2013 the busiest year for CMBS issuance since 2007. Where do you think total CMBS issuance volume will end up in 2013?

 

Newsletter Signup

AdviceIQ

Connect With Us
National Real Estate Investor Related Sites