Highland Development acquires 1/3 acre Sullivan Square parcel for $2.5 million
Last Thursday (August 4, 2016), Highland Development of Medford acquired the approximately 1/3 acre parcel at 44 Broadway in Somerville's Sullivan Square for $2.5 million as recorded in the Middlesex South Registry of Deeds. Highland Development also secured a $1.75 million mortgage through Northern Bank & Trust Company and an $875,000 mortgage through Boston Realty Investments LLC for a total of $2.625 million in financing. 44 Broadway last sold in April 2000 for $262,500. Four buildings, including two single-story retail storefronts home to Taco Loco Mexican Grill and Sullivan Square Liquors as well as a garage and a workshop, stand on the parcel. Highland Development is a commercial and residential developer and general contractor. The firm is the developer and general contractor for 260 Beacon Street in Porter Square and the general contractor for 70 Prospect Street Residences in Union Square. The following is the deed for the sale of 44 Broadway to Highland Development:
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