Developer to expand Framingham Whole Foods & Starbucks after buying car dealership next door for $9.2M
Courtesy | HFA Creative Solutions, Meaningful Places.
A rendering of the proposed expansion at Whole Foods in Framingham
Waltham developer Crosspoint Associates has acquired a $9.2-million, 2.75-acre site adjacent to its Whole Foods Marketplace on Route 9 in Framingham, the company announced on Tuesday, along with plans to expand the grocery store by more than 7,000 square feet.
Earlier this year, Crosspoint Associates warned Framingham officials Whole Foods would look to leave the plaza if it were unable to expand and conform to the Whole Foods prototype, according to the Tuesday announcement.
The newly purchased property, formerly owned by Acton-based Empire Management Corp., was previously home to a Colonial Nissan dealership, and includes 19,500 square feet of showroom, office and flex space, according to Crosspoint. The city last assessed the property at a value of $2.925 million, according to public records. Closing information had not been posted to the state's public database as of Tuesday morning.
Bernard Gibbons, of Cambridge-based Associated Brokerage Group, represented the seller; Boston Real Estate Advisors principal Craig Barker represented Crosspoint Associates.
“Grocery-anchored shopping centers have been one of the few bright spots for retail during this health crisis, and the acquisition of the Colonial dealership allows Crosspoint to expand the size of the store and retain its anchor tenant,” Gibbons said in a statement.
Crosspoint plans to expand the retail center, which already includes a Starbucks, TD Bank, Pilates studio and more, by 14,089 feet, with the Whole Foods store expanding by 7,163 feet, according to the press release. The expansion would provide Starbucks with a new, drive-thru capable building, as well as open up spaces for new retail tenants.
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