Campanelli Companies, a full-service commercial real estate development company, purchased a 90-acre parcel of land at the TPC–Boston Golf Course in Norton, Mass. The site, acquired from The Park at Great Woods Corporation in a deal brokered by Grubb & Ellis, holds considerable development potential for a mix of uses, including biotech, high-tech, retail, hospitality and office.
“Being right next to a world-class golf venue, this site offers a unique development opportunity,” says Robert C. DeMarco, partner of Campanelli Companies. “Not only will it be attractive to companies looking to expand or relocate in new facilities, but it also offers a prime location for a transformative, destination development that capitalizes on TPC-Boston’s status and allure. We look forward to bringing a premier development to this location.”
The site is situated at the intersection of Arnold Palmer Boulevard and Route 140 and is permitted for 1 million square feet of office space and hotel. The parcel is primed for fast-track development as it boasts secured permits for gas, water, sewer and MEPA, allowing for full infrastructure for Class A space. The 90-acre Campanelli acquisition represents one of the largest land sales south of 495 in 2007.
“We were delighted to have represented The Park at Great Woods Corporation in this important transaction,” says Jack Kerrigan, executive vice president at Grubb & Ellis, who brokered the sale with Vice President Stephen Cook. “Campanelli was the most qualified buyer because they have a track record of successfully developing over 10 million square feet in this market and have studied this particular site for seven years. This latest Campanelli acquisition continues to speak to the strength of the commercial market.”
Campanelli Companies has developed 10 business parks in Massachusetts and provides a full range of turnkey development design build services. From permitting to design, construction and lease or sale, Campanelli meets complex business requirements on time and on budget when developing new facilities.