News: Front Section
Posted: November 24, 2017
The Stubblebine Company sells 2.16 acre Boston Cab site for $51 million
Boston, MA David and James Stubblebine, principals of The Stubblebine Company/CORFAC International, sold the 2.16-acre Boston Cab site to Cabot, Cabot & Forbes and CIM, CC&F’s development partner, recently for $51 million.
After being devastated by the ongoing onslaught of Uber and Lyft, Ed Tutunjian, the founder and principal of Boston Cab, decided to sell the 2.16-acre site. The subject property is comprised of 92,882 s/f of land located at 60, 69 and 80 Kilmarnock St. and 59 Queensberry St. Although their business has been significantly undermined by the aforementioned competitors, Boston Cab is still the largest cab operation in New England with 362 Medallion taxis.
The Fenway neighborhood is renowned for being a cultural hub, home to Fenway Park, Symphony Hall and many curated museum exhibits. Few city neighborhoods have undergone as rapid growth as the Fenway with the addition of a diverse mix of new restaurants, apartments, condos, hotels and retail shops.
Established in 1987, The Stubblebine Company specializes in selling and leasing large industrial and flex properties and adaptive re-use sites in the greater Boston area.
David Stubblebine said, “The site represents a phenomenal re-development opportunity in a white-hot area. We are very confident that the new ownership entity will be extremely successful with their development plans.”
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