Wednesday, June 9, 2010

National Grid says "no sale"

I heard a rumor that National Grid was selling its substation on Water Street to Marriott and that there was going to be a hotel built on the site.

National Grid almost laughed me out off the phone ... well, I exaggerate, but it was close!

Of course, people/companies often deny stuff that comes to fruition ...


Cliff Goudey said...

National Grid would be obliged to strongly deny it if negotiations were actually happening. The rumor has the smell of credibility. Great spot, the current use is illogical, and lots to look at.

Such acquisitions are consistent with Marriott's strategy, see:

Newport, RI -

Portland, ME -

Anonymous said...

I love this logic. The fact that Marriott denies it makes it even more credible. Hey, I hear BP wants to drill in the Merrimack...

sds said...


As we all know denial is a defense mechanism, no matter what the underlying facts are.

It would be quite a surprise if this is anything more than a classic Port rumor.

Much like the thought that Verizon might move its POP from Green St to make way for access to a parking garage.

The cost to migrate the infrastructure is extremely large. And since the company makes quite a large amount using its present equipment/location it would seem illogical for them to move anything unless a large amount was provided from Marriott.

Marriott would be far more likely to partner with a present landowner. Marriott also rarely builds their own properties, they usually purchase/manage a location build by a developer...