"From our perspective, this is the perfect time to build," Park of Sam Park and Co., tells GlobeSt.com. Permitting a project can take a while, he points out, so that by the time the project is ready to break ground the market will be in a rebound.

Park's project involves a parcel at the Route 20 interchange that is currently being used as an auto parts junkyard. His company wants to develop the site in a joint venture with the property's owner, Stonybrook Brook Trust. "They've owned [this site] for years," says Park. "They came to us for help in its redevelopment."

Park points out that his company specializes in reinventing property and it is this niche that has ensured that his company is "busier than ever." Park has worked on advising the Kraft family on the development of Gillette Stadium in Foxborough and is working with Cabot, Cabot & Forbes to develop 275 Grove St., the largest building in Newton. "We create value through the entitlement process," he notes. "In the last market everyone was looking at rental rates now we need to look at the land. We are technically based and can plan smart growth."

In this project, Park wants to build two buildings on the 10-acre site. He says he hasn't "fine-tuned" the plan at full build out and is currently working with the town to define a plan that he emphasizes will "work for everybody."

"Our goal is to get fully approved and then wait for the economy to improve," Park adds. He envisions the space, which will be built to suit for the right tenant, being used as a headquarters site for a company looking for a campus type setting. "Most of the vacant space available is smaller spaces," he points out. "This is an ideal headquarters site and its worth waiting for that type of tenant."

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