Boston Investor Bullish On Bullard Building
A major new tenant may soon be moving into the Bullard Building in Framingham's downtown business district, according to George Kougias, who recently purchased 410 Waverly St., located at the corner of Waverly and Irving Streets, across from the town's busy commuter rail station.
Kougias, who purchased the 31,000-square-foot prozperty for $2 million from Waverly & Hollis LP through his family's company, Plousia LLC of Boston, said lease details were being finalized for a new tenant that would occupy space on both floors of the building.
He declined to release details until the deal was finalized, which is expected to occur by the end of this month.
Kougias said his family and the previous owners are friendly, and the property was sitting in family trust, ripe for selling.
"It was time for them to sell," he said.
At A Crossroads
Current tenants include Copacabana Grill, Eye Deal Optiks, D&R Family Discount Dollar Store, H&R Block and First Home Mortgage. All tenants have renewed their leases in the building, Kougias said.
The building's strategic location directly across from Framingham's embattled downtown rail crossing at the intersection of routes 126 and 135 offers a number of advantages, Kougias said, not the least of which is high traffic and a captive audience during train crossings.
"The opportunity of the railroad tracks is that traffic does come to a stop, and when drivers aren't using their cell phone, their eyes wander," Kougias said.
Kougias said he will work to renovate the building's roughly 9,000-square-foot second floor into usable office space which he can lease, and will build himself an office upstairs as well.
"I told all of the tenants that the only thing that's changing is when they have a problem, we'll fix it," Kougias said.
WBJ Web Partners
Most Recent
Most Recent
0 Comments