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MHD Depot in BeverlyCOMPLETED DISPOSITION OF STATE-OWNED REAL PROPERTY
FORMER MHD MAINTENANCE DEPOT: 110 & 116 PARK STREET, BEVERLY

DESCRIPTION OF PROPERTY
On March 8, 1996, Massachusetts Highway Department (MHD) transferred care & control of the Beverly Maintenance Depot located at 110 & 116 Park Street in the city of Beverly to the Division of Capital Asset Management (DCAM). The site comprises two (2) contiguous parcels approximately 0.45 acres in size and contains two (2) buildings used for the maintenance storage and the garaging of maintenance vehicles. The property was zoned Industrial (IG).

DISPOSITION PROCESS AND ECONOMIC BENEFITS

DCAM consistent with its statutory authority under Section 548 of Chapter 26 of the Acts of 2003 sold the subject property, through public auction to Clemenzi Realty Trust for $676,500 on October 14, 2004. The property was formally conveyed to the developer on December 23, 2004 and is currently being developed as expansion for the abutting business and commercial leased space for four (4) commercial businesses. The redevelopment of this former state-owned property has resulted in the creation of construction related jobs, positively impacted the City’s tax base and has allowed the abutting business to expand and use the remainder of the property as leased space for four (4) commercial businesses that provide services to the surrounding Beverly community.