New Balance has expanded its real estate empire in Brighton, snapping up two commercial properties several strides from the sneaker maker's corporate headquarters.
In separate deals within the past month, company affiliates paid $3.8 million for a North Beacon Street building that's home to the Vocational Advancement Center and $5 million for the Grossman's Bargain Outlet site next door.
That adds to the 14-acre swath of Guest Street land that New Balance grabbed in 2011 for $26.5 million to lay the groundwork for its $500 million office, hotel and sports complex.
New Balance spokeswoman Amy Dow said the latest acquisitions were opportunistic in nature. There are no specific redevelopment plans at this point, and the sites may be used to relocate tenants from its Guest Street properties during construction.
"They were two properties that became available that we felt would contribute to the overall vision of the area," Dow said.
The Vocational Advancement Center, which provides job training to people with disabilities, sold its building to New Balance after dropping the asking price by $500,000. VAC executive director Amy Bell could not be reached for comment about its plans.
Grossman's is open but it's unclear for how long. A call to the discount hardware chain's owner E.C. Barton & Co. was not returned.
Anabela Gomes, president of the Brighton Allston Improvement Association, said she'd like to see New Balance build housing there someday. "They don't have that in the project right now. I think it would be a good addition," she said.
Real estate activity has been heating up in that section of Brighton, south of the Mass. Pike where Market Street runs past WGBH.
On Friday, Hub restaurateur Michael Conlon finalized a $4.1 million purchase of the Stockyard steakhouse property that overlooks the highway. The eatery abruptly closed in July but Conlon, taking over from the Manning family, is expected to revive the restaurant with a new menu and other upgrades.
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