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Land up for grabs in Boston?s Seaport
Boston Business Journal - by Michelle Hillman
In a city where desperate developers build on postage-size pieces of land, a swath of opportunity has opened up in South Boston.
The U.S. Army Reserve and the U.S. General Services Administration announced late Friday that it was making 13 land parcels available as part of an arrangement that would exchange the land for construction of a new U.S. Army Reserve office and training facility in Virginia. As part of the exchange, the developer who is awarded the 13 parcels ? making up 8.1 acres of land ? also gets a nine-story, 620,000-square-foot office building called the Barnes Building, a 14,000-square-foot maintenance garage and about 1,200 permitted parking spots and six acres of developable land. The land and related commercial property is located at 495 Summer St. in South Boston across the street from the World Trade Center and adjacent to the Boston Convention and Exhibition Center.
The land exchange is being marketed by the real estate firm, GVA Williams, with Thompson, Cobb, Bazilio & Associates, a Washington, D.C.-based accounting firm, and Faithful+Gould, an international consultant firm. Interested developers are required to bid on the property, which is being advertised as a prime location for office, hotel and retail development or life science complex. The acquisition of the land will be paid for by the winning developer in the form of the construction services provided in Virginia.
?The U.S. Army Reserve is proud to provide this one-of-a-kind real estate opportunity. The benefit of this transaction is twofold: the state-of-the-art facility will allow the Army Reserve to better carry out its mission of training soldiers for the challenges of the 21st century, and the exchange will enhance the development of Boston?s Seaport District,? said Eric Loughner, deputy chief of ACSIM-Army Reserve, in a statement.
http://www.bizjournals.com/boston/stories/2008/09/29/daily7.html
Boston Business Journal - by Michelle Hillman
In a city where desperate developers build on postage-size pieces of land, a swath of opportunity has opened up in South Boston.
The U.S. Army Reserve and the U.S. General Services Administration announced late Friday that it was making 13 land parcels available as part of an arrangement that would exchange the land for construction of a new U.S. Army Reserve office and training facility in Virginia. As part of the exchange, the developer who is awarded the 13 parcels ? making up 8.1 acres of land ? also gets a nine-story, 620,000-square-foot office building called the Barnes Building, a 14,000-square-foot maintenance garage and about 1,200 permitted parking spots and six acres of developable land. The land and related commercial property is located at 495 Summer St. in South Boston across the street from the World Trade Center and adjacent to the Boston Convention and Exhibition Center.
The land exchange is being marketed by the real estate firm, GVA Williams, with Thompson, Cobb, Bazilio & Associates, a Washington, D.C.-based accounting firm, and Faithful+Gould, an international consultant firm. Interested developers are required to bid on the property, which is being advertised as a prime location for office, hotel and retail development or life science complex. The acquisition of the land will be paid for by the winning developer in the form of the construction services provided in Virginia.
?The U.S. Army Reserve is proud to provide this one-of-a-kind real estate opportunity. The benefit of this transaction is twofold: the state-of-the-art facility will allow the Army Reserve to better carry out its mission of training soldiers for the challenges of the 21st century, and the exchange will enhance the development of Boston?s Seaport District,? said Eric Loughner, deputy chief of ACSIM-Army Reserve, in a statement.
http://www.bizjournals.com/boston/stories/2008/09/29/daily7.html
