Copyright The Boston Globe
A prominent block of mixed-use buildings in downtown Wellesley is now off the market, after being bought by a Quincy-based commercial real estate firm for $15.3 million Jumbo Capital acquired the so-called Taylor Block, a 1.2 acre site near the Wellesley Square commuter rail station, last month, according to a report from Wayland-based brokerage R.W. Holmes. Considered a prime spot for redevelopment, the block had been on the market since November 2024. When it was first listed, the site was assessed by real estate brokerage Colliers at $23 million. Taylor Block, a stretch of five mixed-use buildings on Washington and Central Street, is home to several first floor businesses, such as restaurants Tutto Italiano, Old School Pizzeria and home goods store Comina, with offices and apartments upstairs. The oldest building, originally home to the Wellesley National Bank, was built in 1904. It’s not clear if the new owners plan to repurpose the existing space or raze it for a new development. Jumbo Capital, based in Quincy, did not immediately return a request for comment. Advertisement Jumbo executive Tom Powers told the Boston Business Journal that the company recognizes both the need for multifamily housing in Wellesley Square, as well as the community’s connection to the small businesses which populate Taylor Block. “Every property we look at is situational,” Powers said. The company already owns a portfolio of several office buildings on Grove Street and in Wellesley Hills, and is redeveloping the former Wellesley Town Hall site at 888 Worcester Street into an assisted living complex. Its other properties include apartments and office buildings across eastern Massachusetts, including in Boston’s Post Office Square, according to its website. Even if Taylor Block is redeveloped with multifamily housing in mind, it would likely add only a few units. The site currently includes 20 apartments, a number which could be raised to 28 with a special permit under new MBTA Communities zoning. Advertisement Material from previous Globe coverage was used. Camilo Fonseca can be reached at camilo.fonseca@globe.com. Follow him on X @fonseca_esq and on Instagram @camilo_fonseca.reports.
