CANTON, MA-A 42,000-sf industrial building here has been sold for $2.61 million to Blackstone Valley Place Associates which has leased the facility to an education organization under a seven-year arrangement.
The Rhode Island group outbid at least three other interested investors to take ownership of the 425 Turnpike St. building, offering about $200,000 less than the $2.8-million asked by seller Commercial Products Corp. of Boston, Tom Powers, with the Codman Co.'s South Suburban Team, tells GlobeSt.com. He says the buyer selected the property because of its proximity to Route 128 and the building's functionality.
The single-story industrial building, previously occupied by the Walter Morris Co., a distributor of water heaters, was almost immediately fully leased by the new owners to the Judge Rotenberg Educational Center of Canton, which provides job training courses.
Powers along with Rick Peterson, also with the Codman Co.'s South Suburban Team, handled both transactions.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.