FRAMINGHAM – Metrowest Commercial Real Estate announced the Archdiocese of Boston has modified the long term lease-only option for the Marian High School campus to include a buy-out provision for the Union Avenue property.
This important change will make redevelopment viable for redevelopment for companies who were not able to consider the property due to the lease only option, according to the real estate company.
Marian High School closed in June 2018.
The high school and the affiliated convent building contain 115,000 square feet of space and are situated on a 3.2 acre waterfront parcel with over 500 feet of frontage on Learned Pond.
The high school building is four levels, has granite stairwells, an 850 seat auditorium, a full-sized gymnasium with bleacher seating, a cafeteria and kitchen.
“Given the significant change in terms; we expect to generate even more interest in the property due to additional financing options being available that the straight lease provision wouldn’t allow. These projects could include condominium conversion, residential, educational office or medical reuses. The Dioceses will consider proposals with or without the existing buildings,” said Cheryl Tully Stoll, a co-listing agent.
The property is located close to the memorial Building, the main library branch and is nearly adjacent to MetroWest Medical Center as well as the city’s Central Business District Zone. It is a short walk to the commuter rail station in downtown Framingham.
Interested individuals can contact email@example.com or by call Realtor Marlene Aron at 508-740-0000 with Metrowest Commercial Real Estate.