Transforming a funeral home into a thriving car wash is no easy feat, but Jennings Real Estate Services, representing the Sellers, working with M Square Commercial, who represented the Buyers, brought their expertise to Springfield, MA, delivering a successful retail development project. Navigating zoning changes, demolition approvals, and community concerns, the team facilitated a seamless retail redevelopment that turned 1.04 acres of underutilized property into a new commercial success story.
Located on Liberty Street, this Springfield retail redevelopment reflects the area’s growing potential for strategic commercial property transformation. The sale of the 1.04-acre property marks a significant milestone in the revitalization of Springfield’s commercial real estate market, paving the way for the development of a high-performing Modwash car wash in a prime location.
Modwash operates in excess of 125 car washes on the east coat from Massachusetts to Florida.
Liberty Street Retail Redevelopment Project Overview in Springfield, MA
- Location: 710 Liberty Street, Springfield, MA
- Property Size: 1.04 acres
- Sale Price: $1,100,000
- Seller: Tinkham Glen Realty, LLC
- Buyer: Hutton Springfield MA ST, LLC
- Brokers: Kevin Jennings, Jonathan Little (Jennings Real Estate Services); Brittany (M Square Commercial)
Navigating Retail Redevelopment Challenges in Springfield, MA
Transforming this property wasn’t a straightforward process. The former funeral home, located in a residential area, required zoning changes to enable its conversion into a retail site. Beyond zoning, Jennings Real Estate faced demolition approvals for older, historically significant structures. Local stakeholders, including neighborhood representatives, expressed concerns about the proposed redevelopment, requiring thoughtful engagement to address their objections. Buyers then had to apply and receive approval from the Springfield City Council for a special use permit to operate the car wash.
Jennings Real Estate spearheaded efforts to secure necessary approvals while managing the expectations of all involved parties. These efforts culminated in a deal that benefitted both the seller and buyer, reflecting the firm’s expertise in navigating complex commercial transactions.
Retail Redevelopment Strategy for Liberty Street Property
Maximizing Market Potential
Jennings Real Estate began by analyzing the property’s potential in Springfield’s growing commercial real estate market. Liberty Street, a key corridor in the city, provided a strategic location for retail expansion and redevelopment.
Engaging Stakeholders
From city officials to local residents, Jennings Real Estate prioritized open communication. Early engagement with the Springfield planning board and City Counsel ensured smoother navigation through zoning and permit approvals. Transparent dialogue with neighborhood representatives helped address concerns for the project.
Navigating Regulatory Hurdles
The transaction required securing zoning changes to reclassify the property for commercial use. Additionally, Jennings Real Estate worked with both the buyer’s and seller’s teams to obtain demolition permits and special use approvals for the planned car wash facility. By managing these complex processes, the team ensured the project met all legal and regulatory requirements.
Results: A Win for All Parties
The $1.1 million sale of 710 Liberty Street delivered substantial benefits for the seller, the buyer, and the Springfield community.
For the Seller:
- Eliminated carrying costs, including state, county, and local taxes.
- Maximized property value through rezoning and approvals.
For the Buyer:
- Secured a prime retail location for car wash expansion.
- Benefitted from the property’s strategic position along a high-traffic corridor.
For Springfield:
- Revitalized a key area of the Liberty Street corridor.
- Enhanced economic activity and created potential for local job opportunities.
Looking Ahead: What This Retail Development Means for Springfield
This successful transaction underscores Springfield’s potential for creative commercial redevelopment. Older properties, when strategically repositioned, can unlock immense value for investors while contributing to the city’s economic growth. Jennings Real Estate’s ability to navigate complex regulatory landscapes ensures that properties like 710 Liberty Street can achieve their highest and best use.
Contact Jennings Real Estate for Your Commercial Property Needs
Are you exploring opportunities to buy, sell, or redevelop commercial properties in Springfield or the surrounding region? Jennings Real Estate Services specializes in transforming challenging projects into successful outcomes.
Contact Us:
Kevin Jennings
Principal Broker
Jennings Real Estate Services, Inc.
73 Chestnut Street, Springfield, MA 01103
Phone: 413-731-7770
Email: kevin@jennings-re.com
Jonathan Little
Broker
Jennings Real Estate Services, Inc.
73 Chestnut Street, Springfield, MA 01103
Phone: 413-731-7770
Email: jonathan@jennings-re.com
Get in touch with us today to learn more about how Jennings Real Estate can help with your next commercial real estate project.