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Crosspoint Acquires $9M Development Site for Framingham Whole Foods Expansion
Crosspoint Associates has acquired a nearly three-acre development site adjacent to its Whole Foods Marketplace in Framingham for $9.2 million. The Newton-based developer plans to significantly expand the grocery store.
The development site is formerly home to the Colonial Nissan auto dealership and features a 19,500-square-foot showroom/flex space. The acquisition of the site allows Crosspoint to expand the retail center, which also currently includes a Starbucks, TD Bank, Pilates studio and one vacant retail space, by 14,089 square feet to 77,249 square feet. The Whole Foods store will be expanded by 7,163 square feet to 43,617 square feet. The former car dealership will be home to a mix of new retail spaces, including a new building for Starbucks.
Bernard Gibbons of the Cambridge-based Associated Brokerage Group (ABG), represented the seller, Empire Management Corp., in the transaction.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
