A Massachusetts development group has purchased multiple properties in East Granby along Route 20, likely for commercial development projects.
In deals recorded July 21, Meadow Street Partners/Development Associates of Agawam purchased a 10.9-acre lot at 21 Kripes Road from Airport Bus Centers 3 LTD for $1 million; a 7.8-acre lot at 73 Rainbow Road from MPB Realty Venture and Peter L. Brown for $1.2 million; and 5 acres across the street at 1 Gateway Blvd. from HAR-LYN Realty LLC for $1 million.
All are vacant lots except for a small .28-acre parcel containing a home at 85 Rainbow Road between the 73 Rainbow and 21 Kripes Road properties. It was purchased by Meadow Street Partners from Faith G. and Robert Brousseau for $249,900 in a deal recorded June 3.
The acquisitions give Development Associates 19 acres of contiguous land along one one side of Route 20, and another 5 acres across the street.
Ken Vincunas of Development Associates could not be reached for comment.
East Granby’s Economic Development Director of Marketing and Commercial Real Estate Sandra Johnson said the vacant lots will likely be used for commercial development.
Previous plans for the parcels include a hotel and apartment complex that were approved by the town but never built, East Granby officials said.
Development Associates owns a building at 2 Gateway Blvd. that was a former office of the ticket resale company StubHub.
Originally, 2 Gateway was built for International Paper and served as a disaster recovery location for that company.
It now contains some medical suites and is ideal for office space, Johnson said, due to its proximity to the airport, Route 91, industrial parks, Hartford and Springfield, Massachusetts.
Johnson said the town of East Granby worked closely with local business owners, including Vincunas, during the pandemic in helping them stay open and remain successful.
She believes Vincunas and Development Associates are eyeing projects in East Granby due to the positive business relationship with the town.
“East Granby recognizes that businesses can locate most anywhere. The town worked very closely with its businesses through the Covid period and focuses on keeping good relationships with its business owners,” she said.
“We are pleased that … Development Associates factored their positive working relationship with the town into their acquisition equation. We know that there are many other places where they could have invested.”
