A major potential development site near the interchange of I-290 and I-495 in Marlborough has hit the market.
NAI Glickman Kovago & Jacobs, a Worcester realty firm, began marketing the site in February for lease or sale, with a potential for a range of uses, from office and hotel to assisted living or light manufacturing and distribution. No price is being advertised.
One concept for the site pitched by NAI Glickman Kovago & Jacobs shows a 119-unit residential development, and another envisions office buildings totaling 350,000 square feet of space.
[Related:Â Marlborough office building sells for $16.5M]
Marlborough’s office vacancy rate fell a full percentage point last year to 13%, according to the Marlborough Economic Development Corp. Marlborough, Northborough, Southborough and Westborough collectively have a 15.8% office vacancy rate, according to the Boston realty firm Perry.
The site, at 528 Robin Hill St., sits a mile from the headquarters of Sunovion Pharmaceuticals and a mile and a half from the Solomon Pond Mall across I-290. The wooded site today includes only a single-family home, bordering the Hillside School one on side and a residential area on the other.
[Related:Â Retirement community builder buys Marlborough site for $4.6M]
The property is a rare large undeveloped tract of land in Marlborough, and it’s near offices for Digital Federal Credit Union and manufacturer Saint-Gobain, among others. The site runs along I-290 for more than 1,000 feet just west of the interchange with I-495, giving it high visibility for highway traffic.
The site, which is zoned for light industrial use, is owned by Cosma Cazaropoulos and Cheryl Schnare, according to city records.
