Union Street Member LLC Acquires Development Site In New Bedford For $3.21M With Loan From MassDevelopment

The asset involved in this transaction is a development site located at 193-197 Union Street in New Bedford, MA, with a square footage of 42,000. The property was sold for a loan amount of $3,212,750, categorized as a bridge loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,212,750
• Lender: Navjeet Bal - MassDevelopment
• Landlord: Union Street Member LLC
• Date of Transaction: 03/23/2026
• Market: New Bedford, MA

This transaction involved Navjeet Bal from MassDevelopment providing significant financing to Union Street Member LLC, an entity affiliated with One Circle Co., to facilitate the redevelopment of the site.