Page 32 - BusinessWest January 23, 2023

COMMERCIAL REAL ESTATE >>
Building V
space was certainly a consideration when he and business partner Dinesh Patel were deciding whether to submit a proposal for the purchase of the 1550 Main building in downtown Springfield.
But ultimately, this was just one of many considerations, he told BusinessWest, add- ing that the others — as well as his firm belief that business owners and managers will always see value in having people work- ing together in one place — convinced the two serial entrepreneurs to move forward and answer the request for proposals sent by the property’s now-former owner, Mass- Development, early last year.
Mitta and Patel eventually prevailed in the bidding to acquire the property — for- merly occupied by the U.S. Federal Court and currently home to tenants ranging from Baystate Health to the Springfield School Department — for $6 million.
As he talked about its prospects for the future, Mitta focused on those other consid- erations that played into this decision, espe- cially that age-old axiom when it comes to
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Tower Square Owners
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1550 Main
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BY GEORGE O’BRIEN
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id Mitta acknowledged that the emergence of remote work and its impact — still to be deter- mined in many respects — on the region’s inventory of office