Hilco Redevelopment Partners, the real estate development arm of Hilco Global, acquired the 175k SF former Standard Thomson Co HQ at 152 Grove St in Waltham, with plans for a $30M redevelopment. Illinois-based Hilco is calling the project The Gauge, a reference to the kind of industrial equipment that Standard Thomson used to make there. (Has a better ring than The Automotive Thermostat.)
The buyer plans to refashion the 1940s brick-and-beam property into three separate office and R&D facilities, the Boston Business Journal reports. The redevelopment, designed by Spagnola Gisness & Associates, is scheduled for an early '17 occupancy. [BBJ]
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