1 New Bond Street

Property Description

Kelleher & Sadowsky is pleased to offer land parcels collectively known as New Bond and C Streets in Worcester, MA. A ±51 acre redevelopment site, currently utilized by Saint-Gobain Abrasives, Inc. ("Saint-Goban"). The property was recently sold to New Garden Park, Inc., a wholly owned 501(c)(3) non-profit organization subsidiary of the Worcester Business Development Corporation ("WBDC"). WBDC's mission is to add value through collaborative redevelopment projects with a focus on leveraging and promoting the local creative and innovative economy. Saint-Gobain is in the process of consolidating its operations to its south campus on West Boylston Street in the near future over a scheduled period of time. The WBDC is seeking developers or users to purchase either the first phase (15 acres) or the first two phases (29.67 acres) with the opportunity of acquiring the remaining two phases over the next one to three years. Working cooperatively with the developer, the WBDC will be responsible for creating new public roads to improve access, upgrading utilities, environmental remediation, and demolishing existing buildings to allow the developer to construct new state-of-the-art commercial properties that meet the demand for any of the following uses that are allowed by right; industrial/warehouse/distribution, life science and high-tech manufacturing buildings. Zoned MG-1, the site can accommodate a variety of uses with the potential to redevelop up to 950,000 SF. Given the scarcity of large, assembled, developable land sites in major cities, this site offers an incredible opportunity to a developer to partner with the WBDC and capture the strong market fundamentals that continue to expand from Boston to Worcester.