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NORTHBOROUGH, MA-A joint venture comprised of Boston-based the Wilder Cos. and Brendon Properties of Southborough plans to construct a $125-million, 575,000-sf shopping and entertainment center here. Tom Wilder, a principal with Wilder Cos., tells GlobeSt.com that his firm is in the process of seeking permits to build “the Loop at Northborough” on 130 acres at the intersection of Routes 9 and 20.

“It’s a great market with some terrific communities,” says Wilder, “but its really lacking a Loop-type concept that will combine leisure, dining and shopping in one complex.” That’s exactly what the “branded” center will do, he adds.

This will be the second Loop venture in the state. Wilder originated the concept in 2000 when it turned the Methuen Mall into a lifestyle/power center. Since then, the firm has developed a Loop in Orlando and plans two others in Florida.

Several tenants have already indicated their desire to lease space at Northborough, Wilder notes. He declined to reveal exactly who is interested, but said the company already has had “heavy interest” in between 50% and 75% of the project’s space. Wilder says the open-air, pedestrian-friendly center will also feature restaurant and entertainment venues.

Construction is expected to get under way by the middle of next year. The joint venture anticipates that the center will open in mid-2007.

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