REDEVELOPMENT OPPORTUNITY • Adjacent to Commuter Rail
3 Properties • 40 Unit LODGING House
Old Colony Hotel
Boston Realty Advisors is pleased to present the exceptional opportunity to acquire the Old Colony Hotel, a 40-unit multifamily/lodging house asset located in Framingham, Massachusetts. The offering is a unique asset in an unmatched location and presents investors with substantial value-add potential.
Framingham, home to numerous large office developments including TJX and Bose headquarters, is considered one of Greater Boston’s strongest business communities. Furthermore, the Framingham/Natick area represent one of the largest shopping districts in New England. The property is conveniently located right in Downtown, directly across the street from the Framingham MBTA Commuter Line Station. In addition, it offers easy access to major routes, including the Mass Pike (I-90) and 4 state highways. With immediate access to public transit, the deep employer base that makes up the area, and the wealth of amenities, residents of The Old Colony benefit of everything the area has to offer.
The Old Colony Hotel is offered for sale on an un-priced basis. We will be conducting tours of the property with a “call-for-offers” to follow.
With the Framingham MBTA Commuter Line Station directly across the street as well as easy access to the Mass Pike (I-90), 4 state highways and over 15 bus routes, including a Greyhound bus stop, the property offers residents convenient access to neighboring towns and the City of Boston.
Conveniently situated right in downtown, the Old Colony Hotel is just a few minutes away to a multitude of restaurants and shops. Jack’s Abbey brewery is walking distance and the Natick Mall is a short 12 minute drive.
The Old Colony Hotel offers unique redevelopment potential. The property will benefit from a broad range of usability such as a complete renovation, conversion and/or repositioning while maintaining the current lodging house license.
Strong Market Dynamics
Retail and a strong labor market have been the main power source of this market’s economy. Framingham is home to over a dozen large office complexes as well as to Framingham State University and is one of New England’s largest shopping destinations. These market drivers produce incredible demand for housing and retail oriented needs.
Jason s. Weissman
Founder & Senior Partner
Nicholas m. Herz
Managing Director & Partner