New England Real Estate Journal, June 24, 2016
Foxborough, MA There is nothing more satisfying than turning a tired, blighted shopping center into a new flourishing mixed-use development according to Jeffrey Saletin, president of Saletin Real Estate Group, a noted Massachusetts and Rhode Island developer, construction manager, and property manager. Such is the case with the old Foxfield Plaza located on Rte. 140. Purchased in September, 2015 by FM Partners, LLC, Saletin Real Estate Group has been called on to give new life to the 10-acre site. The metamorphosis into the new “Forbes Crossing” is well underway.
“When we first saw the old center, we knew there was great potential,” said Saletin. “We are excited by its convenient location and strong demographics.”
Saletin Real Estate Group is spearheading the construction and leasing of the New England-style development. It will feature a four-story 139-room Hampton Inn & Suites by Hilton Hotel, three pad sites (one for a bank), and another 47,000 s/f of retail, including space for a junior anchor.
The hotel is being developed by FM Hospitality, LLC, an affiliate of FM Partners, LLC. Thomas DiPrete, a principal in the new development, is quarterbacking the hotel development process. A groundbreaking is scheduled for mid-July. “We are thrilled to welcome the world leader and standard setter in the upper-midscale lodging segment – Hampton Inn & Suites by Hilton Hotel – to Forbes Crossing,” said DiPrete. The hotel will be managed by Marc Landry of High Road Hospitality.
“Community members and local officials are looking forward to the increased economic activity that this shopping center can add to the surrounding area,” said Saletin. He, along with attorney Frank Spillane of Spillane & Spillane, and Eric Prive, project manager at DiPrete Engineering, worked in conjunction with Foxborough officials to successfully achieve regulatory permits for the hotel, free-standing pad sites, and renovations to the existing retail strip building.
Leading the design team DiPrete Engineering of Dedham, Mass., is a civil engineering, planning and surveying firm. DiPrete Engineering successfully worked through the permitting process, completing land surveys, regulatory compliance, and site engineering
“We are excited to be part of this project,” said Prive. “The addition of new retail and restaurant businesses in this area will continue to add to a thriving community.”
No doubt Foxborough is thriving, as well as nearby Mansfield. Forbes Crossing is just one-quarter mile from I-95 and only one mile to I-495. It doesn’t get much more central between two major cities – 23 miles southwest of Boston and 18 miles northeast of Providence. The retail center is located across from the entrance to the 850-acre Cabot Business Park, one of the largest campus-style business parks in New England. Also nearby is Foxborough Business Park with tenants such as Meditech, Lockheed Martin, and GE, as well as hotels and 250 luxury apartments. An estimated 70,000 daytime employees work within a few minutes drive from Forbes Crossing. Gillette Stadium and Xfinity Center are just a 10-minute drive.
“The leasing activity has been extremely strong and is a clear indication that retailers believe in the location and the work we are doing,” said Cris Crecelius, director of operations at Saletin Real Estate Group. --“Both national and local retailers alike are excited about locating to our new development.”
Chris Mazzier, AIA, of Studio 401 Architecture, located in East Greenwich, R.I., is heading the architectural design, including one of the pad sites and renovations to the retail strip building while keeping an eye on giving it a “Main Street” feel.
The vision for the transformation includes improving visibility by opening up the view corridor from Rte. 140, where some 40,000 vehicles travel daily. The Foxborough Conservation Commission and the Massachusetts Department of Transportation worked alongside Saletin Real Estate Group to increase the shopping center’s visibility. Natural Resource Services, a Rhode Island environmental science consulting firm, was an integral part of the permitting process to complete this work and rejuvenate the wetlands in the vicinity of the development. That work has been completed and is clearly a key catalyst to the strong leasing demand.
Working with Saletin Real Estate Group and DiPrete Engineering is Pare Corporation, traffic engineer, transportation and design firm, who provided traffic analysis. GZA GeoEnvironmental and Sage Environmental round out the site design team. BankRI provided financing for the project.
“Forbes Crossing is off to a really great start,” said Saletin. “The site work is well underway, demolition and renovations to the existing retail strip building have begun, and leasing activity is very strong. We have leases signed with both national and local retailers and restaurants, and have no doubt the Forbes Crossing will be very successful.”