The Greater Lowell Commercial Real Estate Market Has Been Active in Recent Months
Since the first of the year the Greater Lowell commercial real estate market has been fairly active. Just after the first of the year the 850,000 square foot former Wang property on Pawtucket Boulevard in Lowell sold to Winstanley Enterprises, LLC for about $18.25 per square foot. The Jerathmell Bowers House property on Wood Street in Lowell was purchased for the development of two commercial buildings, including a bank branch. The property contains about three acres improved with the oldest house in Lowell. The house is listed in the National Register of Historic Places and will reportedly remain on the site.
In Dracut, a 12-acre parcel of residential land sold for $260,000 in February. The parcel is located at the Lowell city line. Also in Dracut a metal warehouse building sold on Chuck Drive for $420,000 in January.
Chelmsford has had some interesting transactions in the last several months as well. A shopping plaza on Boston Road that formerly was anchored by Stop & Shop and Marshalls sold last August and renovations were begun recently. Also a mixed use commercial and residential building sold in Central Square sold in late January.
For more information on these and other sales visit the Market Research page on this site.