Sale price for lots at Dorch­ester Re­gional Tech Park an­nounced

Dorchester Star - - Front Page -

CAM­BRIDGE — Dorch­ester County Eco­nomic De­vel­op­ment an­nounced the com­ple­tion of a fair mar­ket value (FMV) as­sess­ment for 12 build­ing lots at the Dorch­ester Re­gional Tech­nol­ogy Park, a crit­i­cal mile­stone al­low­ing the county to sell land to ex­pand­ing busi­nesses.

The mar­ket anal­y­sis was com­pleted less than a year af­ter the East­ern Shore In­no­va­tion Cen­ter (ESIC) opened and in con­junc­tion with the county’s an­nounce­ment that the 13,250-square-foot in­cu­ba­tor is al­most 100 per­cent leased. The sale price starts at $23,000 an acre.

“The county com­mis­sioned a mar­ket as­sess­ment to de­ter­mine the value and sell­ing price for the Tech­nol­ogy Park lots,” said County Man­ager Jeremy Gold­man. “This was both a con­di­tion of the EDA grant and a best prac­tice to en­sure we can suc­cess­fully mar­ket the sites. Based on the data- driven anal­y­sis con­ducted by W.R. McCain, we know the FMV is ap­prox­i­mately $23,000 an acre and our eco­nomic de­vel­op­ment staff can be­gin mar­ket­ing the lots to tar­geted end-users and de­vel­op­ers.”

The county re­tained Sal­is­bur y-based W.R. McCain & As­so­ciates in Novem­ber 2016 to con­duct a re­gional mar­ket anal­y­sis; Lori M. Mrohs, a se­nior an­a­lyst at McCain, ex­e­cuted the re­port.

“We iden­ti­fied the to­tal mar­ket value of the prop­erty at $1.28 mil­lion based on land plus site im­prove­ments in­clud­ing util­i­ties, side­walks, sig­nage, and high speed broad­band fiber,” Mrohs said. “Pub­lic util­i­ties en­hance the range of uses and drainage ease­ments are al­ready in place.”

The 113-acre Tech­nol­ogy Park con­sists of 56 im­proved acres and about 57 acres for storm wa­ter man­age­ment, for­est conser va­tion and a wa­ter tower site. Lots vary from 2.26 to 5.5 acres and av­er­age 4.7 acres.

“One year ago, we proudly cut the rib­bon on the East­ern Shore In­no­va­tion Cen­ter, the an­chor ten­ant of our Tech­nol­ogy Park,” said Su­san Banks, busi­ness de­vel­op­ment man­ager. “Once the ESIC opened, our next step was to iden­tify ten­ants and lease the in­cu­ba­tor. I’m happy to an­nounce 12 com­pa­nies, which in­clude two busi­nesses that are uti­liz­ing the co-work space, are now lo­cated in the in­cu­ba­tor bring­ing us to 92 per­cent ca­pac­ity in 12 months.” The com­pa­nies lo­cated in the in­cu­ba­tor are:

• Cam­bridge Fed­eral: Dell re­seller, LiveS­can provider and Se­cu­rity and Base Op­er­a­tions con­sul­tant

• Dal­com En­gi­neer­ing: En­gi­neer­ing, safety, IT and man­age­ment ser vices con­sul­tant

• F.L. Hold­ing: Agri­cul­tural brand­ing busi­ness cel­e­brat­ing the joy of the agri­cul­ture life­style

• Gar­vey En­vi­ron­men­tal: Provider of in­no­va­tive mold re­me­di­a­tion ser­vices

• Hooper’s Is­land Oys­ter Co.: Aqua­cul­ture pi­o­neer of prod­uct, pro­cesses and equip­ment

• iValueLED: High value LED light­ing for com­mer­cial and mu­nic­i­pal en­ergy sav­ings

• Map­ping Tech­nolo­gies: Ae­rial map­ping and un­der­ground meth­ane track­ing

• Quev­era: Soft­ware en­gi­neer­ing firm de­liv­er­ing cus­tom tech­nol­ogy so­lu­tions

• Purdy Group: Fed­eral con­trac­tor de­vel­op­ing knowl­edge man­age­ment cen­ter

• SunXA­n­a­lyt­i­cal: Lab­o­ra­tor y ser vices, wa­ter test­ing and agri­cul­tural prod­uct de­vel­op­ment

• An­napo­lis De­fense and Se­cu­rity: Se­cu­rity ser­vice provider

• Bio Re­search So­lu­tions: Doc­toral stu­dent in Tox­i­col­ogy work­ing to im­prove lab­o­ra­tory pro­duc­tiv­ity “Now that the County has a Fair Mar­ket Value As­sess­ment for the lots, we are ac­tively ex­plor­ing ex­pand­ing our pres­ence in the Dorch­ester Tech­nol­ogy Park,” said Cam­bridge Fed­eral CEO Mike Ross. “If our busi­ness con­tin­ues to grow as it has this past year at the In­no­va­tion Cen­ter, we’d like to ac­quire the first lot to build our Mary­land-based fa­cil­ity.”

Banks said there are a num­ber of fea­tures and ben­e­fits that make the tech­nol­ogy park valu­able. She said all lots are turnkey and con­nected to pub­lic wa­ter and sewer.

The space con­tains high-speed broad­band ac­cess, zoned for light in­dus­trial use in Cam­bridge about two miles south of U.S. Route 50 — a ma­jor thor­ough­fare be­tween the East­ern Shore, Bal­ti­more and Wash­ing­ton, D.C. — and across from the Cam­bridge-Dorch­ester Re­gional Air­port.

“Now that the Coun­cil has ap­proved a sale price start­ing at $23,000 an acre, we will im­me­di­ately im­ple­ment an ag­gres­sive mar­ket­ing plan to iden­tify and reach out to prospec­tive users,” Banks said.

HUBZone is a Small Busi­ness Ad­min­is­tra­tion pro­gram de­signed to at­tract in­vest­ments, busi­ness de­vel­op­ment and em­ploy­ment in eco­nom­i­cally dis­tressed ar­eas. The pro­gram in­cen­tivizes fed­eral con­tract­ing. Busi­nesses that be­come HUBZone cer­ti­fied must place their prin­ci­pal of­fice in a des­ig­nated lo­ca­tion; Dorch­ester has coun­ty­wide HUBZone sta­tus.

De­vel­op­ment of the Tech­nol­ogy Park and East­ern Shore In­no­va­tion Cen­ter were made pos­si­ble through strate­gic part­ner­ships by Dorch­ester County with the City of Cam­bridge, fed­eral gov­ern­ment (De­part­ments of Com­merce [Small Busi­ness Ad­min­is­tra­tion, Eco­nomic De­vel­op­ment Ad­min­is­tra­tion], Hous­ing and Ur­ban De­vel­op­ment and Agri­cul­ture) and the state of Mary­land (De­part­ment of Com­merce, Mary­land Eco­nomic De­vel­op­ment Cor­po­ra­tion).

For fur­ther in­for­ma­tion on the Dorch­ester Re­gional Tech­nol­ogy Park lot sizes, ap­proved uses and ben­e­fits, con­tact Su­san Banks at 410-228-1055, sbanks@choose­dorch­ester.org or visit www.Choose­Dorch­ester.org.

CON­TRIB­UTED PHOTO

The 13,250-square-foot East­ern Shore In­no­va­tion Cen­ter is the flag­ship of the Dorch­ester Re­gional Tech­nol­ogy Park. A new sig­na­ture fa­cade fab­ri­cated by Cam­bridge-based GKD Metal Fabrics was re­cently in­stalled at the ESIC. Shown from left are ESIC man­ager Steve Dol­bow, Dorch­ester County Eco­nomic De­vel­op­ment Of­fice Busi­ness De­vel­op­ment Man­ager Su­san Banks and Chris Brisco, fi­nan­cial spe­cial­ist at Quev­era, an IT com­pany lo­cated at the In­no­va­tion Cen­ter.

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