By Seth Daniel
Herb Chambers companies has purchased the Best Buy site in Santilli Highway this month for $12.5 million, with the hopes likely of locating a BMW dealership on the property.
According to property transfer records, Herb Chambers Morrissey purchased 162 Santilli Highway from National Development of Boston for $12.5 million on Aug. 1.
The sale of the property and the likely development of a luxury car dealership has been rumored since last June when the Independent broke the story that Herb Chambers had been meeting with local officials about the idea.
With the sale of the property, the matter seems to have become more than talk.
Herb Chambers Companies in Somerville did not return a phone call in time for comment.
Mayor Carlo DeMaria said he looks forward to working with the company as they present their plans to the City and the neighborhood.
“Herb Chambers is a very well regarded and deeply knowledgeable businessman,” he said. “While the company has yet to file a development plan, we look forward to learning more as his proposal moves through the permitting process.”
National Development’s Ted Tye said Herb Chambers made an attractive offer and his company wished them well.
“We developed the property and have had Best Buy as a tenant from the start,” he said. “Herb Chambers made an attractive offer, and we wish them the best with the property. Any comment on future plans will need to come from them.”
Herb Chambers Morrissey had been courting the community for several years in Dorchester on Morrissey Boulevard to put a high-class dealership there next to the old Boston Globe building. However, those plans fell through completely last spring, and it seems that Chambers had moved on from Dorchester to Everett.