The Town of Wilmington Massachusetts

 

Wilmington is a town in Middlesex County, Massachusetts. It was first settled in 1665 and was officially incorporated in 1730, from parts of Woburn and Reading. Minutemen from Wilmington responded to the alarm on April 19, 1775, going off to fight at Merriam's Corner in Concord.

From the middle of the 18th century until the early 19th century, Massachusetts was the acknowledged leader in hop production in North America. Middlesex County in particular was famous for its hop yards and Wilmington was the first place where the culture grew to a fever pitch. The Boston and Lowell Railroad was built in 1835. The line is now the oldest operating rail line in the U.S. Wilmington is also served by the Haverhill Division (the old B&M Portland Division).

Since World War II, Wilmington's population has quadrupled. Interstate 93, Route 62, Route 129 and Route 38 run through town, with Route 128 about a mile south of Wilmington. According to the United States Census Bureau, the city occupies a total area of 17.2 square miles (45 km2), of which 17.1 square miles (44 km2) is land and 0.1 square miles (0.26 km2) is water. Much of Wilmington was built on or still is wetlands. The Ipswich River starts in Wilmington, while the Shawsheen River forms part of Wilmington's border with Billerica. The one lake in town, Silver Lake, is a kettle lake formed in the retreat of the Pleistocene glaciers at the end of the last ice age.

 

From Our Blog


J. Butler Property Management, LLC. : Wilmington, Massachusetts

As mentioned elsewhere on this website, property managers are typically on the front lines of lease negotiations. One provision often given to tenants without regard to its future impact is the exclusive provision. An exclusive may be given for a limited time, say the first year of operation, to give the tenant a chance to build its business and develop a cooperative business relationship with the other tenants in the building. It may also be limited to a specific area of a shopping center. The tenant should be required to actively and continuously conduct business in the category in which it has an exclusive. The most important issue to negotiate is the penalty if the exclusive is violated. There should be no monetary damages. The tenant should either be given the right to pay percentage rent in lieu of a minimum rent or to cancel its lease. A provision often awarded to tenants that can become arduous for the landlord is the option to renew. An option provides the tenant with the right to extend its lease and creates an obligation for the landlord to accept the tenant\'s decision. Anchor retail tenants, restaurants and major office tenants are often provided with options because of their negotiating strength and the high cost to build out their premises. Other tenants may be awarded an option as part of the overall negotiation strategy. There are several reasons why a landlord may not want a tenant to extend its lease. The tenant may have continually defaulted in its obligations, the market may be higher than the agreed-upon rent for the option period and there may be a merchant better suited for the tenant mix of the property.