TJX spends $120M on Framingham office building for HQ expansion

Photo | Google TJX has bought an office building at 550 Cochituate Road for $120 million for a major office expansion.

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By Zachary Comeau

Framingham retailer parent firm TJX Cos. has purchased a large office building near its Framingham headquarters for $120 million as it plans an expansion.

The 450,000-square-foot office building at 550 Cochituate Road is formerly owned by Westwood software company MediTech.

In an email, TJX company spokesman Andrew Mastrangelo said the company is planning office space to support the company’s global growth and to accommodate a growing workforce in the corporate headquarters.

The building is a short drive from the company’s existing campus in Framingham — where renovations are taking place — and its satellite corporate campus in Marlborough.

“We believe that this building, along with our other East campus buildings in Framingham and our West campus buildings in Marlborough, should help support our business needs for many years to come,” Mastrangelo said.

Mastrangelo said the company hopes to continue working with the state, Framingham and Natick on its future real estate plans.

The retailer continues to be a bright spot in an otherwise harsh environment for retailers. The company posted net sales of $9.8 billion, a 5% increase from the second quarter of 2018 and profit of $759 million.

The company, which controls the TJ Maxx, Marshalls, HomeGoods, Sierra and HomeSense store brands ended the quarter with 31 more global stores than when it started, an increase of about 800,000 square feet.