The Canton, MA-based company will spend $8 million building out upstate Watertown's former Woolworth Building at 146 Arsenal St. The North Country property will house a customer interaction center that will create 700 jobs for the area. Renovations are scheduled to begin within the next few weeks with an opening planned for later this year. Watertown will be the global concern's fifth US customer interaction center.

The Woolworth Building site was made definite last month when New York State Senator James A. Wright secured a $500,000 state Legislative grant for the Jefferson County Industrial Development Agency to acquire the property. The acquisition of the property allows for local ownership and control of the asset. The grant covers the entire purchase price of the building and the sale closed yesterday.

The property had been owned by Tarrytown-based Juster Development Inc., with JCIDA holding an option on the property. The agency extended its option on the building as negotiations with Stream continued.