Downtown Framingham Site Sold For Self-Storage Development

Framingham MA

11 February, 2021

9:55 AM

Description

FRAMINGHAM, MA — A nearly 6 acre downtown Framingham parcel was sold recently, with plans calling for the site to be turned into a 127,000 square-foot self-storage site. The 71 Bishop St. property was previously part of the Dennison Company's downtown campus. The building on the site was demolished in 2018, and in May 2019 the Zoning Board of Appeals granted Clinton 100 CPI LLC variances for a self-storage facility. The property was sold in late January for $5.8 million to the Saint Louis-based real estate investment company Twain Financial Partners. Twain in turn entered into a 99-year lease with a company called Mequity Framingham LLC. "The project consists of the ground-up development of a three-story climate-controlled building and three one-story drive-up buildings," Mequity's website says of the 71 Bishop St. parcel. "The project will be complete in early 2022 and will be professionally managed by Public Storage." Prior to the Clinton 100 CPI LLC purchase of the site, Herb Chambers had proposed building a dealership on the site. Framingham was Dennison's home until a merger with the Avery Corporation in 1990, when most operations were moved to California, according to the Framingham History Center.