Andrew Square Development Site

Andrew Square Parcel Refinanced for $64.5 Million

Core Investments has refinanced the property at 4 Alger Street for $64.5 million via LoanCore.

The property features a single story 95,600 square foot warehouse facility that was most recently used by Blue Cross & Blue Sheild for medical storage. The building was constructed in 1940 and sits on a 3.97-acre parcel.

The site is 15.07 acres of developable land located in the heart of Andrew Square owned by Core Investments, some owned jointly with Ad Meloria. The land includes 10.57 contiguous acres located at 475-511 Dorchester Avenue with frontage on Southampton Street, and a second 4.5-acre site, 371-385 Dorchester Avenue, located one parcel away. The land is located steps to MBTA Red Line rapid transit service to Downtown Boston and Cambridge. 

A Parcel of South Boston Development Site Mortgaged

Core Investments has mortgaged the property at 501-537 Dorchester Ave for $18 million via Webster Savings Bank.

The site is 15.07 acres of developable land located in the heart of Andrew Square owned by Core Investments, some owned jointly with Ad Meloria. The land includes 10.57 contiguous acres located at 475-511 Dorchester Avenue with frontage on Southampton Street, and a second 4.5-acre site, 371-385 Dorchester Avenue, located one parcel away. The land is located steps to MBTA Red Line rapid transit service to Downtown Boston and Cambridge.

Ad Meloria and Core Investments acquire Southampton Street parcels, expanding Andrew Square development site

Developer Core Investments has acquired 1.42 acres of developable land along Southampton and Ellery Streets in Andrew Square for $5.25 million, expanding its’ Andrew Square undeveloped land holdings to 15.07 total acres. The sale amounts to $3,697,183.10 per acre. The newly acquired acres are located adjacent to 9.15 contiguous acres owned by the development team at 475-511 Dorchester Avenue, creating a 10.57-acre contiguous site. A second team-owned 4.5-acre site, 371-385 Dorchester Avenue, is located one parcel away. Developers Ad Meloria and Core Investments intend to jointly develop the Andrew Square parcels for commercial use. Core Investments is currently developing Washington Village, an eight building mixed-use development also located in Andrew Square.

Ad Meloria and Core Investments expand Andrew Square development site

Developer Core Investments has acquired 2.75 acres of developable land along Dorchester Avenue and Alger Street in Andrew Square for $13.1 million. A building on that property has a tenant with a long-term lease. The acquired land is located adjacent to a 6.4-acre site, 511 Dorchester Avenue, that Core Investments and Ad Meloria acquired for $13.375 million in April 2014 and is a parcel away from a 4.5-acre parcel, 371-385 Dorchester Avenue, that Core Investments acquired for $16 million in July 2015. Ad Meloria and Core Investments intend to develop the parcels for commercial use. Core Investments has also closed on $26.19 million of new financing for the parcels through Delphi Financial Group of Wilmington, Delaware.