Business & Tech
Arsenal Mall Sold to Developer Looking to Build Office, Retail Center
Boylston Properties purchased the mall and will team with the CEO of athenahealth to redevelop the area in Watertown.
Watertown's Arsenal Mall has been sold to a developer looking to turn the area into a space for start up companies, high-end lofts and upscale restaurants and retail stores.
Boylston Properties purchased the Arsenal Mall and the adjacent Harvard Vanguard Medical Associates building for $70.5 million, according to a report in the Boston Business Journal. The firm also purchased the building occupied by Golfsmith for $10.5 million.
The development may also include a hotel on the former Charles River Saab site.
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The project is a joint venture between Boylston Properties and Jonathan Bush Jr., the CEO of athenahealth. His company recently purchased the Arsenal on the Charles complex just down Arsenal Street from the mall.
The mall was owned by Simon Property Group, and is Watertown’s largest retail center. Stores include The Gap, Old Navy, Forever 21 and Sports Authority.
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