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Pulte Homes Plans Reading Condo Complex

Mar 1, 2011 | Reprints | Print

pulte-homes-logo_big Pulte Homes has submitted plans to the town of Reading seeking to develop more than 400 condominium and townhouse units, 200 of which will be age-restricted.

Grubb & Ellis Co. represented Pearson PLC in the disposition of One Jacob Way, a 25-acre, fully permitted land parcel in Reading, to Pulte Homes for $13 million.

George Nugent, senior vice president of Grubb’s office group, and Phil Giunta, executive vice president of investment services, facilitated the transaction on behalf of the seller.

"The market for land sites to support multifamily residential development continues to remain strong in greater Boston," said Nugent. "With its proximity to I-93 and I-95, and in place, by-right development potential, One Jacob Way generated interest from several investors."

Residential Real Estate