Quincy developers buy Boston property, continues work on Quincy Medical Center

There’s no plan yet for what’s going to happen with the former medical center property.

Patriot Ledger | By Sean Philip Cotter
March 1, 2017

QUINCY – The Quincy company that bought the former Quincy Medical Center property in December made another splash on Wednesday when it announced it had bought a garage in Boston for more than $30 million.

FoxRock Properties, a company owned by Rob Hale, who also owns Granite Telecommunications in North Quincy, has closed on the parking garage at 40 Beach St. in Boston’s Chinatown district.

The company paid $33.5 million for the property and will continue to operate it as a parking structure for now, said Chet Clem of FoxRock.

“We think it’s a great investment,” he said.

Clem said no changes are planned for the eight-story structure.

The company mostly has stuck to the South Shore so far, building the new South Shore Educational Collaborative in Hingham and the Longwater medical campus in Norwell.

In December, FoxRock bought the 15-acre Quincy Medical Center property from Steward Health Care for $12 million. Clem on Wednesday said the company is still deciding what to do with the property. He said FoxRock is meeting with prospective tenants and hopes to have a plan by the end of the year.

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