Arsenal Street Development | Watertown

Cresset acquired the existing warehouse and adjoining land in 2008 in partnership with a well-known regional retail operator after the building use had been limited due to inferior access with acquisition of the build subject to controlling the adjoining parcel. The second parcel was acquired to provide direct access to Arsenal Street and thereby increased the potential uses to include retail.

Working in conjunction which adjacent landowners, Cresset is in the process to reconfigure the site and are beginning the re-permitting process to change the use to retail. This change in use will allow our partner to utilize its strength in the lease up of a reconfigured retail property.

Asset Type: Warehouse/Retail re-development
Property: 130,400sf / 7.3 acres
Acquisition Date: March/June 2008

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