Mayor Brian M. Arrigo announced last week that Amazon will open its newest delivery station at the site previously occupied by the Necco candy company, creating hundreds of part-time and full-time jobs in one of the most significant commercial developments in Revere’s history.
Amazon will invest in renovations to the building at 135 American Legion Highway and house its Greater Boston delivery station under a lease arrangement with property owners Atlantic Management and V.M.D. Companies, LLC.
“This is a leap into Revere’s future as a strong, modernized and prosperous city,” Mayor Arrigo said. “Amazon’s investment in our community will invigorate the local economy and promote Revere as a place where prominent, innovation-driven businesses are welcome and can thrive.”
After Atlantic and V.M.D. acquired the 50-acre property in April 2017, Mayor Arrigo collaborated with the new owners and championed zoning legislation that restricted the property’s use to advanced commercial activity, including technology warehousing and e-commerce. The building, containing approximately 830,000 square feet, became vacant in September of 2018, when Necco abruptly ended operations after 15 years at the location.
The availability and quality of Revere’s workforce, along with its proximity to public transportation and Logan airport, helped attract Amazon to the City.
“The Mayor’s Office, his Economic Development staff and the City Council, particularly Ward Councilor John Powers, who was adamant about keeping the Necco site as commercial property, were essential in working with Amazon and bringing assurances that Revere would be a long-term home for the company and its employees,” said Joseph Zink, Chief Executive Officer of Atlantic Management, a real estate development firm based in Framingham.
“Mayor Arrigo was hyperfocused on increasing employment with smart economic growth policies. This is a big win for Revere and the region,” said James L. Vitas II, Managing Director and Founder of V.M.D Companies, LLC, a real estate development and investment firm.
Speaker of the House Robert A. DeLeo said, “I’m proud that Amazon’s new distribution center will call Revere home. Over the years since Amazon’s initial interest in the region, the House has advocated for the company to locate its facilities in Revere. Our location is ideal, and we have skilled workers, and these new jobs will help to feed our local economy for years to come.”
When the new delivery station opens its doors in 2020, Amazon will become Revere’s largest employer and generate a significant increase in commercial tax revenue for the City. Amazon’s arrival also positions the Arrigo Administration to intensify its pursuit of improved regional transportation opportunities such as a commuter rail stop at nearby Wonderland and an MBTA Blue Line – Red Line connection.
Atlantic Management, based in Framingham, MA, is a real-estate development firm that was formed in 1972 to provide investors with long-term capital growth through conservatively structured real estate investments. For more information, please go to http://atlanticmanagement.com/.
V.M.D. Companies, LLC, based in North Andover, MA, is a real estate and development company that procures strong financial returns through engaging in opportunistic, value-add commercial real estate investments by capitalizing on its in-depth knowledge surrounding real estate fundamentals. V.M.D. embodies an entrepreneurial, creative, hands-on methodology and is well versed among all asset classes. For more information, please go to www.vmdcompanies.com .