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Wed, Sep 28
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Wed
Sep 28

Recent Trades

Lake Quannapowitt Property in Wakefield Changes Hands for $29 Million; Housing Planned

September 14, 2022 $29M+
200-400 Quannapowitt Parkway in Wakefield has been sold for $29,030,900.

Cabot, Cabot & Forbes is the buyer. The firm has proposed replacing the existing structures with up to 485 housing units, including 87 income-restricted, on the land.

The expansive building on the site had been the long-time home of American Mutual Insurance Company and then Comverse, with its distinct architecture visible from bordering Route 128.

The seller was Watestone Wakefield, which bought the property in January 2018 for $15 million. The company had been working through the zoning board of appeal approvals to renovate the property for research and development, laboratory and office uses when it pivoted to housing.

A complete redesign of the 24 acres is proposed with publicly-accessible land, wetlands, and woodlands covering a large part of the development.
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