Major real estate deals close in Lowell
Three major real estate deals have closed in Lowell, with properties worth a combined $3.5 million changing hands. The deals include the sale of the Olympia Restaurant and a vacant lot on Hurd Street, as well as the authorization of a land disposition agreement for the Draper IMPACT Center.
Lowell has seen three major real estate deals close, with a total value of $3.5 million. The Olympia Restaurant was sold for over $1 million to Ascending Point Properties LLC. The property includes the restaurant, Zorba Music Hall, and parking lots. A vacant lot on Hurd Street was also sold, with UTEC purchasing it for $1.1 million. The lot is adjacent to UTEC's campus and will be used to support young people. The Lowell City Council authorized a land disposition agreement for the Draper IMPACT Center, a 75,000-square-foot research facility. The facility will produce advanced microelectronic design and production for the US military and government customers.
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