Worcester Business Journal

wbjournal.com | May 29, 2017 | Worcester Business Journal 9 Boylston property These development sites are for sale on Route 140 in Boylston Source: For-sale listings linked from Boylston town website 385 South St., Shrewsbury, MA 01545 www.ProvoFinancial.com 508.842.0539 Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through Provo Wealth Management Group, a Registered Investment Advisor. Provo Financial Services, Inc. and Provo Wealth Management Group are separate entities from LPL Financial. PROVO FINANCIAL SERVICES, INC. would like to thank our clients, team and business community for making this achievement possible. FAMILY BUSINESS A W A R D S C E N T R A L M A S S . 2017 WORCESTER BUSINESS JOURNAL PROUD WINNER Provo Financial Services, Inc. was selected as a 2017 Central Mass Family Business Award winner in the small business category, based on Worcester Business Journal committee's criteria of business accomplishments and community impact 210 Shrewsbury St. $13.5 million 135 acres south of Cyprian Keyes Golf Club 160 Shrewsbury St. $5.15 million 35 acres just north of FedEx site 240 Shrewsbury St. $1.45 million 5.7 acres in front of FedEx site Shrewsbury/Sewall streets N/A 49 acres at high-traffic intersection Site Listed price Description we sell," Hernandez said. The start of something bigger FedEx chose the Boylston site because of its easy highway access, proximity to distribution centers and a strong local community workforce for recruiting employees, company spokes- man David Westrick said. The site owner, Scannell Properties, bought the land last month for about $7 million and took out a $52-million mortgage for the project. Site work for the project has started at the former Triboro Crane property. FedEx will lease the Boylston build- ing to replace two existing area facilities in Auburn and Northborough. It is part of a nationwide expansion to boost daily package capacity and enhance the speed of the company's shipping net- work, Westrick said. The facility is set to open in August 2018, and FedEx is projected to pay about $1.5 million a year in property taxes – equal to about 10 percent of the town's annual budget. "Definitely, it's good for Boylston," DiPilato said of the FedEx project. "We need the tax money." The Worcester Regional Chamber of Commerce has been helping to draw businesses to the Route 140 corridor because of its potential for warehouses and distribution centers thanks to easy access to several highways, said Timothy Murray, the chamber's presi- dent and CEO. "That's a consequence of consumers purchasing online," Murray said. "It's a growing industry, and you need that ship- ping network. The fact that they've carved out that space right off the highway, I think it is a real kind of sleeping giant." Another development may rise just across the town line into Shrewsbury, a mixed-use project reportedly eyed for up to 1 million square feet at 409 Boylston St. Developer Peter Bovenzi of Secured Financial Limited in Leominster could not be reached for comment. The 130-acre Shrewsbury site, com- bined with the FedEx center and other potential Boylston projects, has led Shrewsbury officials to already worry about worsening traffic off Exit 23. Shrewsbury has studied the corridor and is worried about a need to increase the amount of traffic the roadway can handle, said Chris McGoldrick, the assistant town planner for Shrewsbury. "We're at capacity or beyond capacity," he said. Wilfredo Quinones, who lives on Shrewsbury Street in Boylston, when asked about traffic said, "How much worse can it get?" before giving the thought more perspective. "It's not really that bad, honestly," Quinones said. FedEx will close its distribution centers in Northborough (above) and Auburn and shift that work to the new Boylston facility. W

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