"The property, which takes up almost a block between Franklin Arterial and India, Middle and Fore streets, has been vacant since the plant closed in February 2005, despite attempts by the current owner to develop it into a luxury hotel and later an extended-stay hotel and office complex.
Broker Greg Boulos, of CBRE/The Boulos Co., confirmed this week that the property is under contract but would not say to whom or what the redevelopment plans are.
'I can't really say too much because it hasn't been closed on,' Boulos said.
The 1.75-acre property has been on the market since 2007. The listing price was $4.75 million. "
Wednesday, November 11, 2009