| Earlier this month, W.P. East Acquisitions, an affiliate of Atlanta-based Wood Partners, paid $5.6M ($48k/unit) to purchase a 3.9-acre site at 30 Mill St in Arlington near Mass Ave marketed by Cushman & Wakefield. A former Brigham?s ice cream factory and warehouse will be demolished (tear) to make way for a 116-apartment complex with a 3,500 SF commercial building. With the project already approved, Wood plans to start construction later this month with a loan already secured from Cambridge Savings Bank. Strong market fundamentals are driving the project along as construction costs drop of about 20%. |
WOOD MOVES INTO ARLINGTON
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