NORTHBOROUGH, MA-The Gutierrez Co. is looking to develop part of the 562 acres it acquired from Metropolitan Life Insurance Co. two years ago. The land straddles the Northborough/Marlborough line but the Burlington-based company is looking to build on 175 acres in this town.

According to company project manager Dan Clarey, 695,000 sf have already been permitted and the company will permit an additional 2.3 million sf. He says that another two million sf is available to be permitted. For this project, the company wants to develop two million sf of office space and an additional 300,000 sf of warehouse and distribution space. The site is currently zoned for industrial use, allowing both uses to go forward.

Clarey tells that the site will be developed over ten to twenty years so things could change but as it stands now the project will involve four large office buildings and a fifth warehouse industrial building. Clarey says that current high vacancy rates in the area–most second quarter reports have this area’s rates in the low to mid 20% range–will not impact the project. “”It’s a long term project,” he says.”We just want to permit the site and it can be developed over time.” The project will not be built on speculation, he adds.

Clarey says that the company will probably file a formal proposal with the town this summer. According to a representative from the town’s planning department, the company brought in some preliminary plans to get a feeling for what the town would allow about a year ago.

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