The owner of the New England Patriots is getting into the data center game and planning a rare large-scale development in Massachusetts.
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The Kraft Group has proposed a $16B data center campus that, if fully built out, would span 10 buildings and draw 900 megawatts of power, MassLive first reported. The project in the small town of Sutton, about 10 miles south of Worcester, would be the largest of its kind in New England.
If approved, the company aims to open the first two buildings in 2029 and two additional buildings each year through 2033. The first two buildings would pay roughly $10.4M annually in property taxes starting in fiscal year 2031.
The Kraft Group is owned by Patriots owner Robert Kraft. The land is owned by Kraft's Unified Global Packaging Group, The Boston Globe reported.
Data center development in Massachusetts has been slow as the state's limited land and access to power haven't attracted much investment. Additionally, Gov. Maura Healey signed an executive order in September adding new hurdles for the industry that some experts expected would keep large developers out of the state.
In other parts of the state, communities have made it clear that data center development is unwelcome. Last month, the Westfield Planning Board denied a permit extension to developer Servistar Realties for its more than 150-acre, $4B data center proposal.
SALES
LaSalle Investment Management acquired a 54K SF truck terminal in Northborough for $36M. The seller was NorthBridge Partners. The 25-acre site at 300 Bartlett St. is fully leased to FedEx Freight. A JLL Capital Markets team led by Michael Restivo, David Coffman and Tommy Hovey represented the seller.
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Hersha Hotels & Resorts sold the 130-room Home2 Suites Boston South Bay hotel to an undisclosed buyer. The hotel at 15 Jan Karski Way in Dorchester was completed in 2020. The property is adjacent to the South Bay shopping center. JLL's Alan Suzuki, Matthew Enright and Alexa Amorosino represented the seller.
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Healthpeak is under contract to acquire the remaining 51% ownership interest in its 100 Acorn Park Drive property in Cambridge for $36M, according to the REIT's third-quarter earnings. Healthpeak acquired the 605K SF Cambridge Discovery Park campus for $664M in 2020 with Bulfinch Cos., which bought the majority stake in the Acorn Park Drive property. The building is 53% leased. The pending transaction would give Healthpeak full ownership of its four-building campus.
FINANCING
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WinnDevelopment locked down $48M in construction financing for its 116-unit mixed-income The Waterhouse community for deaf, deafblind and hard-of-hearing seniors in Danvers. WinnDevelopment has partnered with the New England Homes for the Deaf on the project. The 137K SF development is underway, with completion scheduled for spring 2028.
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MassDevelopment provided a $1.8M bridge loan to an affiliate of Bluestone Residential for the conversion and renovation of a former Worcester industrial building into 58 apartments. Bluestone is partnering with Civico Development on the project. The project has also secured a $7.5M loan from Clinton Savings Bank and $2.5M in historic rehabilitation tax credits. The development is expected to be completed within the next two years.
CONSTRUCTION AND DEVELOPMENT
JGE Development has broken ground on its Mission Hill Pathway development, which consists of 48 homeownership units, public open space and sustainable design. The project's sponsor is ODJ Dev. LLC, a collaboration of local affordable housing developers Oxbow Urban, DMV and JGE Development. The project will be built across several formerly vacant city-owned properties. Construction is set to be completed in 2028.
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The Revere Housing Authority filed a proposal to create the Cooledge Street Smart Growth Overlay in an effort to make a 1,700-unit redevelopment easier to permit and build. The redevelopment spans a 39-acre site and would replace the 431 public housing units on the site with 790 new public housing units and 910 market-rate units.
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