 Project overview |
"We think it's a fantastic headquarters location," DeMarco tells GlobeSt.com after acquiring the site from the Park at Great Woods. "We're pretty excited about it." Because of the permits in place, as well as infrastructure such as roads, sewer and utilities, Campanelli considers the venture a fast-track opportunity, says DeMarco. As such, his Braintree-based firm is already entertaining--and pursuing--several possible requirements, including a leading life sciences company circulating in the market.
Grubb & Ellis negotiated the $3-million sale on behalf of the Park at Great Woods, and EVP Jack Kerrigan says Campanelli's can-do approach made them the most qualified bidder. "They have a track record of successfully developing over 10 million sf in this market, and have studied this particular site for seven years," says Kerrigan, who handled the assignment with G&E VP Stephen Cook. The competition for the property "speaks to the strength of the commercial market," adds Kerrigan.
 DeMarco |
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Campanelli will let the market dictate what pieces of the puzzle on Arnold Palmer Boulevard will kick off the project, says DeMarco, explaining the company is not prepared to begin the commercial build-out on a speculative basis. Even with the platform still undefined, DeMarco says he is confident the association with TPC-Boston gives Campanelli's initiative an advantage over competing sites. Among other events, the course hosts the annual Deutsche Bank Championship on Labor Day Weekend. "We look forward to bringing a premier development to this location," says DeMarco.
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