FOXBOROUGH, MA-A single-story brick office and warehouse building that the owner had been unsuccessfully trying for months to lease sells for $2.5 million to a plumbing supply firm that was eager to own its own building. McCarthy Realty LLC, a subsidiary of Walter F. Morris, Co., a Canton, MA-based plumbing wholesale firm, made the offer on the 38,400-sf property at 77 Green St. here even though the property was not being actively marketed for sale, Jim Grady, vice president at NAI Hunneman, tells GlobeSt.com.
"We went directly to the owner and did a purchase," says Grady, who represented the buyer. Seller George E. Stephenson, Jr. was represented by Cathy Minnerly of Cushman & Wakefield Inc. The acquisition, which includes a 42-space parking lot, allowed former tenant, Midas Vision, which makes testing equipment for the semiconductor industry, to terminate the remaining four years on its 10-year lease and vacate the property, which the company had been trying to sublet for several months.
"This building was a great fit for our client's plumbing wholesale company," says Grady, noting that the property offered 8,000 sf of office space and 30,400 sf of warehouse along with a location near both Routes 95 and 495 that will allow the company to maintain both its customers and employees. Grady says the purchase offered the company a chance to own its own building at an affordable interest rate within an area known as the Route 495 South industrial cluster.
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