Worcester Telegram – Janaury 2019
MILLBURY — The Boston Globe has sold a former printing plant off Route 20 to commercial property owner Anthony F. Russell for $5.6 million, according to a registry of deeds filing.
The deal closed in December and included about 38 acres of land and a 178,000-square-foot warehouse and distribution building.
Boston Globe Media Partners LLC had been marketing the 9 Latti Farm Road property, once the printing plant for the Worcester Telegram & Gazette, for $5.95 million.
Mr. Russell could not be reached for comment. The Globe declined to comment.
The building was constructed in parts and features high ceilings, 16 loading docks and a location close to Route 146 and the Massachusetts Turnpike.
It was briefly eyed last year by MedMen Enterprises Inc. as a marijuana cultivation center, according to Laurie Connors, Millbury director of planning and development. The plan was withdrawn, however, when MedMen of Los Angeles agreed to buy PharmaCann LLC in a stock deal worth $682 million.
Very little modern industrial space is available in Central Massachusetts, according to James G. Umphrey, principal at Kelleher & Sadowsky, the Worcester commercial real estate firm that marketed the property. He said the firm is now in talks with two potential tenants for the building, either of which could lease about half the space.
“Overall, this property has got a lot of the criteria that would make it attractive, from the perspective of leasing space,” Mr. Umphrey said.
The sale is the latest in a series of Globe transactions since Boston billionaire John W. Henry acquired the Globe and the Telegram & Gazette in 2013 from the New York Times Co. for $70 million.
Mr. Henry sold the Telegram & Gazette in 2014 for $17.4 million but kept the Millbury plant. In 2017, the Globe sold its headquarters in Boston’s Dorchester neighborhood for $81 million and moved into Boston’s Financial District.
Mr. Russell, who purchased the Millbury property, has large commercial holdings along Route 20. He recently sold about 218 acres near Route 20 in Shrewsbury and Grafton to United Parcel Service for $17.4 million.
By Lisa Eckelbecker