Former Compaq Headquarters in Maynard, Massachusetts to be Auctioned on May 3rd

Anglo Irish Corporation Limited Retains Boston Realty Advisors to Conduct Auction

BOSTON--()--Boston Realty Advisors (BRA) today announced that they have been retained by Anglo Irish Bank Corporation Limited to hold the foreclosure auction of the former Compaq Headquarters in Maynard, Massachusetts on May 3, 2011. 129 Parker Street LLC owns the asset, which is located at 129 Parker Street at the intersections of Routes 27 and 117, and Anglo Irish Corporation Limited holds the mortgage.

“During this process, we are committed to operating a smooth foreclosure auction on behalf of our client,” said Jason S. Weissman, Principal and Founder of Boston Realty Advisors. “The property has a great deal of potential for retail and multifamily development.”

The property consists of 58.2 acres, which is improved by three office/R&D buildings. The site has been rezoned for 225,000 square feet of retail, 100 units of multifamily housing and 400,000 square feet of R&D. In April of 2009, the site was leased (subject to permits) to Price Chopper Supermarkets. The permits are now under appeal from an abutter of the site.

Past property occupants included Digital Equipment Corporation (DEC), which was later acquired by Compaq, and Hewlett-Packard, which merged with Compaq. The developer went through a lengthy permitting process to rezone the former Compaq headquarters as a mixed-use asset including retail space for a major grocer, additional shop space, apartments and R&D facilities.

The auction will be held on the premises at 129 Parker Street in Maynard, Massachusetts at 1:00 PM on Tuesday May 3, 2011. Potential purchasers can learn more about the property by visiting www.129ParkerStreet.Com. Available on this website are the terms of sale and other pertinent information.

About Boston Realty Advisors:

Boston Realty Advisors is a full service real estate firm with offices in Boston and New York. It has a distressed real estate services platform that includes note sales, REO disposition and foreclosure auctions. To learn more about Boston Realty Advisors, please visit www.BRA-REO.Com

Contacts

BIGfish
Christine Lovallo, 617-713-3800

Release Summary

Boston Realty Advisors today announced that they have been retained by Anglo Irish Bank Corporation Limited to hold the foreclosure auction of the former Compaq Headquarters in Maynard, MA.

Contacts

BIGfish
Christine Lovallo, 617-713-3800