Martin Building Goes on the Market

After successfully finding a 50,000-sf telecom tenant, Taurus Investments of New England is placing its 34 St. Martin Drive industrial building up for sale. The 204,000-sf, single-story structure was developed by the Maggiore Cos. and purchased by Taurus two years ago last month for $10.3 million.

Having stabilized the property with the Neescom lease, Taurus reportedly is seeking $12.8 million for the fully occupied building. While company officials did not return phone calls by press deadline, one source says Taurus is calling for offers by late September. “It’s a very nice property,” says the source. “It’s well-built and really accessible to Route 495. They should get a lot of interest.”

Taurus has been an active buyer and seller of real estate in Boston during the past three years. The firm, which is backed largely by high net-worth German investors, recently sold two properties in suburban Westford and Lowell. The company also just closed on a trio of Downtown Boston office buildings. That 60,000-sf Financial District portfolio was purchased for $7.92 million.