A newly formed real estate group plans to build a retail center on 31 acres in Canton that it bought from Exxon Mobil Corp.
BCP Investors LLC, a partnership that includes principals from Chesapeake Real Estate Group and Birchwood Capital Partners, plans to break ground on the two-phase project next year.
The parcel fronts Boston Street and borders Baylis and South Haven streets. It is adjacent to the First Mariner Tower and the Merritt Athletic Club. The site has been used as an oil terminal since the 1890s.
The site is part of the Canton Crossing development.
BCP Investors will develop 275,000 square feet of retail space in the first phase and an additional 100,000 square feet when Exxon fully vacates the property.
Financial terms of the deal were not disclosed.
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