Recent News Revere Happenings

New York firm buys Revere’s former Necco plant for $355M

By  – Real Estate Editor, Boston Business Journal

New York’s Clarion Partners has acquired the former Necco candy manufacturing plant in Revere from Atlantic Management and VMD Cos. LLC for $355 million, the Boston Globe reported Friday.

The deal for the 50-acre site at 135 American Legion Highway had not yet been recorded in Suffolk County deed records as of Friday afternoon.

The 830,000-square-foot plant shuttered in 2018 following Round Hill Investments’ acquisition of The New England Confectionary Co. Atlantic Management and VMD rezoned the property and landed a lease with Amazon Logistics, which plans to convert the property into a delivery station for Greater Boston.

“With execution of Amazon’s lease, this valuable asset is now being sold, in one of the most high profile transactions in the Boston metro area,” James L. Vitas, managing director of VMD, told the Boston Globe in an email. “It is especially significant because of the jobs and vitality it brings to Revere.”

Boston Business Journal Link

 

Sponsored

X