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WESTFIELD, MA-Home Depot USA is purchasing a 71.67-acre site for $5.77 million at Campanelli Busines Park. The national big box retailer is planning a 650,000-square-foot distribution center utilizing a Tax Increment Financing agreement.

Once built, according to the TIF, the center will employ 128 people at the start, then eventually 172 workers guaranteed by July of 2019. The TIF is approved at the town level, explains Dan DeMarco, partner at Campanelli, and then the city level. Home Depot will agree to provide these jobs to the town in a “more front-loaded” deal in return for tax abatements over the 10-year agreement.

The plot is located directly next to the Preferred Freezer locale in the 130-acre planned business park and will most likely begin construction by the end of the year, putting the distribution center on course to be finished in mid-2010.

“For Home Depot to choose Westfield for their distribution facility meant going head-to-head with other states and other sites at every possible level: cost peed site layout location and tax incentives,” says Robert DeMarco, partner at Campanelli Co., in a release. “Campanelli’s ability to provide a fully detailed proposal–including thorough design and cost estimation–ensured that we could accurately represent the cost and speed at which the building could be constructed in the Campanelli Business Park of Westfield.”

Campanelli purchased the park in 2004 and worked out the purchase in an all-cash deal with Home Depot during a competitive process. Currently, the business park has roughly 200,000 square feet shovel-ready land.

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