Worcester Business Journal
An affiliate of Boston developer GFI Partners purchased two lots totaling 4.23 acres along Route 20 in Shrewsbury for a combined $1.85 million.
The sales of 295 and 295R Hartford Turnpike were completed on Wednesday, according to the Worcester District Registry of Deeds.
Worcester real estate brokers Kelleher & Sadowsky Associates’ Vice President Thomas Bodden and Associate Joe Laursen represented the sellers of the properties, Hartford Turnpike Realty Trust and MNR Realty Nominee Trust.
All of the tenants at the properties are still operating, including Metro West Motorcars, Fox Glass of New England, Campos Brothers Landscaping, Green Paradise Services, and Keller Contracting, said Bodden.
Kelleher & Sadowsky Principal James Umphrey represented the buyer. The brokerage was unable to provide details of the developer’s future plans for the site.
An affiliate of GFI, Shrewsbury Land Property Owner, LLC, has proposed a 133,000-square-foot warehouse at nearby 440 Hartford Turnpike. The project is in the approval process with the Shrewsbury Planning Board.
The company also owns the 185-acre former Worcester Sand & Gravel site at 160 Holden St. in Shrewsbury. According to GFI’s website, the company is working with the Town of Shrewsbury to build an industrial park or similar project. It purchased the property in 2020 for $7 million.
GFI has developed industrial properties throughout Central Massachusetts and MetroWest including a 550,000-square-foot industrial park at 300 Financial Park Drive in Franklin and the 630,000 square-foot warehouse and headquarters of Imperial Distributors at 150 Blackstone River Road in Worcester, according to the GFI website.
The company has developed office properties, including several in Acton and multifamily residential projects in Eastern Massachusetts.
By Timothy Doyle