The former impending office and manufacturing development known as 12 Franklin St. is now on hold as the developer who purchased the lot three years ago for $24 million has relisted the property for more than double their investment, the Commercial Observer reports. Continue reading
Pennsylvania-based developers Rubenstein Partners are seeking to build a 583,000 square-foot commercial development with office space at the site of Acme Smoked Fish at 30 Gem St., the Wall St. Journal reports.
Acme would not have to relocate as the development would include an 80,000 square-foot manufacturing facility for the production of their popular smoked fish. Acme’s current facility measures approx. 65,000 square feet.
View this post on Instagram
The new dual eight-story mixed-use office buildings known as 25 Kent Ave. are nearing completion. The development has approx. 70,000 square feet of retail space, 350,000 square feet of office space and 80,000 square feet will be for light manufacturing use. The developers, Rubenstein Partners and Heritage Equities, worked with the Dept. of City Planning to create a special land use framework to allow them to build eight stories of commercial space where the zoning would only allow them to build one or two stories, according to the Commercial Observer.
Rubenstein Partners previously negotiated with the Dept. of City Planning to build dual eight-story commercial/light manufacturing office buildings known as 25 Kent Ave., where the original zoning allowed two stories, according to the Commercial Observer.
A special land use framework would once-again have to be negotiated for 30 Gem St. to rezone the area from manufacturing to commercial use. Continue reading