Fallon Co. Expands Seaport District Real Estate Rights on Northern Avenue

Fallon snags rights to big Seaport lot

By Greg Turner |  http://www.bostonherald.com
Article Courtesy of:  Boston Herald
Joseph Fallon - Fan Pier Boston

Joseph Fallon – Photo by Ted Fitzgerald

Fan Pier’s Joe Fallon has landed development rights to an under-used South Boston waterfront site owned by the city between the Bank of America Pavilion and Harpoon Brewery.

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The Boston Redevelopment Authority approved the one-year designation for the Fallon Co. at Thursday’s meeting, after the firm approached the city agency with a potential project in the works.

Fallon wants to “pursue some of the existing demands that are out there in the commercial real estate community for new build-to-suit opportunities,” said Dennis Davis, the BRA’s deputy director for commercial leasing.

The paved, two-acre lot on Northern Avenue is used for monthly parking for tractor-trailer trucks and temporary parking for the Boston Fire Department.

Fallon is expected to sign a long-term lease and develop the parcel for several smaller tenants who want to move to the Seaport area but can’t be accommodated at Fan Pier.

“My guess is he’s been getting an awful lot of interest from different types of businesses,” said David Begelfer, CEO of the commercial real estate group NAIOP.

“Any business now looking in the area has to look at the Seaport.”

The site is near the Park Lane apartments developed by Fallon and the hot restaurant scene at Liberty Wharf.

It’s also a stone’s throw from the “Wharf 8/Pier 7” site where the city wants developers to enhance waterfront activity.

At Fan Pier, Fallon has completed the 18-story One Marina Park Drive office building, while work continues on two buildings for Vertex Pharmaceuticals.

Article URL: http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061145629 


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Article Courtesy of:  Boston Herald

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