Boston-based developer buys site of proposed Lancaster distribution park for $5.7M
Image | Courtesy of Lancaster Planning Board/GFI Partners
Plans for the Fort Pond Commerce Center call for the construction of three warehouse buildings.
GFI Partners, a Boston-based developer focusing on industrial properties, has purchased the site of a proposed industrial park in Lancaster for $5.73 million.
The 25-acre parcel located at 696 Fort Pond Road was sold to an entity managed by GFI Partners by Mountain Laurel Realty Co. of Lunenburg on Dec. 12, according to Worcester District Registry of Deeds records.
Plans for the site, dubbed the Fort Pond Commerce Center, call for the construction of three industrial buildings ranging 159,000-square-feet to 297,500-square-feet, according to a listing for the property on Colliers.com.
The three buildings will be warehouse and distribution space, with a combined total of 110 loading docks, according to a presentation made by GFI Partners to the Lancaster Planning Board in March 2023.
The property was given a tax assessment value of $345,200 for 2024, according to Town of Lancaster property records.
GFI purchased 221 acres of industrial land in Charlton in 2023 and is planning to convert the former Grafton State Hospital site into a life science complex.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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