15 Sep 2014
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Plaza Owner Eyes Purchase of Neighboring Property

The owner of the shopping plaza in Hamilton says it is working to purchase another nearby downtown property.

Plaza Owner Eyes Purchase of Neighboring Property

The company that owns the shopping plaza in Hamilton is looking at purchasing a neighboring property, but does not have any specifics plans for its reuse right now.

Lisco Development, the Providence, R.I.-based company that owns the Shoppes at Hamilton Crossing, is conducting due diligence on the property at 17 Bay Road, where Mike’s Auto is located, according to Linda Meiggs of Lisco Devemopment.

“We have not received enough information to make our decision,” Meiggs said.

The company is waiting to hear the results of some tests that were conducted on the property.

The due-diligence process is still on-going and there have been no major problems or obstacles, she said.

“It’s still in process,” she said.

Meiggs said the company has been having “friendly conversations” with Mike’s Auto owner Michael Holland for several years.

“We’re in negotiations at this time,” she said. "We have been talking to him.” A purchase and sale agreement has not been signed, she said.

The plaza is adjacent to the Mike’s Auto property and is separated by the MBTA rail line.

Stephanie Holland, the daughter of Mike’s Auto owner Michael Holland who works with him to run the auto repair and used car business, said discussion of a possible sale is just a rumor.

Last year, Mike’s underwent months of hearings in front of the Zoning Board of Appeals and Planning Board as it sought permission to sell cars on the property. In the end, the Zoning Board granted permission for Mike's to sell eight cars on the property.

If Lisco purchases the property, Meiggs said the company does not have any specific plans for the property right now.

“That is way down the road,” she said.

There have been no plans for the company submitted to town officials, according to Planning Coordinator Kristine Cheetham.

Meiggs said she has heard rumors that the company plans a Dunkin Donuts there, and “unequivocally I can tell you that is not true,” she said.

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