MassEcon adds 10 new properties now available for businesses expanding in Massachusetts

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Peter Abair

Watertown, MA – Ten new real estate properties are now available for businesses expanding in Massachusetts or for new businesses from other states or nations, as MassEcon has added the building and land sites to its “ReadyMass 100” list.

“Interest in Massachusetts locations for offices, labs, supply chain, and manufacturing remains very strong even in this pandemic period,” stated Peter Abair, Executive Director of MassEcon.  “The timely addition of these premier properties to the ReadyMass inventory enhances the ability of Massachusetts to meet these growing facility needs.”

MassEcon’s list is updated twice a year, as property owners choose to feature their new land and buildings and are approved by MassEcon’s ReadyMass 100 Evaluation Committee, a team of real estate experts and MassEcon’s state partners. The Committee rigorously evaluated properties that are certified for immediate occupancy or development and have met key criteria relating to infrastructure, permitting, size, and readiness. The 10 new properties (nine land sites and one building) in 2020 span across all regions in Massachusetts:

The 10 new properties brought the number of properties listed on the ReadyMass 100 up to 71. (The list is capped at 100, but in recent years as Massachusetts has enjoyed robust business activity, has hovered in the high 70s). The properties can be viewed on MassEcon’s website at http://massecon.com/services/readymass100/search. Each of the properties will be showcased in a virtual event hosted by MassEcon on July 28 with presentations from real estate executives.

In light of the pandemic, MassEcon, continues to promote business activity in Massachusetts with its ReadyMass 100 portfolio of available locations and has offered to waive the listing fee to maximize site options. Since its inception in 2009, the ReadyMass 100 has resulted in close to 60 success stories that represent nearly 9 million square feet.

There were 59 properties on the ReadyMass 100 list last year. Properties are removed when they are sold or occupied, or for other reasons of the owner’s choosing. Already in 2020, PROVA occupied 14,000 square feet at Dunham Ridge in Beverly; 50,000 square feet has been leased at 1225 Providence Highway in Sharon; and approximately 200,000 square feet has been leased at 176 South Washington Street in Norton. Last year, the following nine ReadyMass 100 properties were absorbed:

Doug Kehlhem is MassEcon Senior Director in charge of the ReadyMass 100 program. “The ReadyMass100 portfolio is a critical tool to have when marketing to site consultants and industry, nationally. Having certified sites and buildings speeds up the development process and eliminates risk.”

The ReadyMass 100 initiative is designed to promote expansion opportunities for businesses. The initiative helps to retain companies growing in Massachusetts and to communicate to both in-state and out-of-state companies that Massachusetts has a ready inventory of properties to meet the needs of businesses of all sizes and across all industry sectors. MassEcon developed the initiative as part of a collaboration with the Commonwealth, regional economic development groups, and the real estate community. While MassEcon is unable to participate in out-of-state site selector receptions, due to the pandemic, it is conducting industry and regional-focused virtual interviews with experts, demonstrating the thriving economy in the Commonwealth. These videos will be available on MassEcon’s website later this summer.