Planning Board approves Lakeville hospital redevelopment plan
Robert Barboza
LAKEVILLE After months of public hearings during the town’s multi-departmental review process for large scale Development Opportunities District (DOD) projects, the Planning Board formally voted on April 1 to approve site plans and a special permit for the proposed redevelopment of the Lakeville Hospital campus as a warehouse and distribution center.
Commercial property developer Rhino Capital is proposing to tear down the seven abandoned buildings in the hospital complex and build a 402,500 square foot building to be leased to as yet unknown tenants. According to submitted plans, the building would be sited just over 400 feet from Main Street, and be outfitted with 128 loading docks for tractor trailer truck deliveries and shipments.
Just one choice in Lakeville annual election
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Time running out for Doctor s House at the former Lakeville Hospital
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Boston flex portfolio acquired by local buyer for $10.4M
BOSTON, Feb. 25, 2021 - JLL announced today that it has closed the $10.4 million sale, arranged $16.1 million in acquisition and redevelopment financing and has been engaged to lease the two-building flex office and R&D portfolio totaling 170,146 square feet at 3 and 8 Federal Street in the northern Boston suburb of Billerica, Massachusetts.
JLL marketed the property on behalf of the seller, and procured the buyer and borrower, Boston-based Rhino Capital Advisors LLC (Rhino). JLL worked on behalf of Rhino to place a floating-rate loan with Bank of New England. Loan proceeds will be used to purchase the assets in addition to repositioning 8 Federal Street. Rhino has also engaged JLL to lease the portfolio.