SCC is excited to have secured its own office space in Union Square into the future, as small businesses and nonprofits are just as vulnerable to Somerville’s hot real estate market as are home tenants. SCC was able to purchase the entire 2nd floor of the 337 Somerville Ave. buildingAnd we have been able to offer secure rental space to two other Somerville nonprofits – Groundwork Somerville and Community Cooks – with the possibility of one or two additional nonprofit tenants going forward.
In March 2017, SCC was part of a partnership that purchased the property at 337 Somerville Ave., where SCC has had its offices as a tenant since 2006. We had secured an option to purchase the property in early 2016, and then recruited and helped organize a new condominium association with three other partners to complete the purchase.
Sally O’Brien’s Bar and Grill purchased their space in the building, so now enjoy security of ownership, along with SCC. An investment partner purchased the vacant ground floor space next to Sally O’Brien’s and expects to find a lessee in the next several months. Finally, Bow Market LLC is renovating the two-story cinder block building in the rear of the property, converting the space to a new unique urban marketplace, currently under renovations and expected to open in early 2018. SCC’s purchase of the 2nd floor condo was financed with the assistance of Mass. Development nonprofit bond financing through East Boston Savings Bank.
We can now look forward to many more years of serving the community from our Union Square location.