Boston developer buys 27 acres of commercial land in Sutton
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Vacant land zoned for commercial use was sold to Boston-based GFI Partners.
GFI Partners, a Boston-based real estate agency, bought a 27-acre commercial property in Sutton for $950,000 in a deal closed Wednesday.
The commercial property is vacant and located off Route 146 at 48 Worcester Providence Turnpike. It is zoned B2, allowing for development projects including a hotel, office park, church, or educational use, according to online real estate listing service LoopNet. It is located around several manufacturing companies, and across from a small and now closed car dealership branded J.D. Byrider.
The property was sold by Route 146 Associates, LLC, which is registered to three individuals from Charlton and Weston. The sellers had owned the property since 2004, when they acquired it for $600,000. The property is assessed by the Town of Sutton at $593,000.
GFI Partners, which bought the property, has a number of development projects throughout New England, many of which are in Central Massachusetts. The firm is currently redeveloping a 185-acre property in Shrewsbury formerly used by Worcester Sand & Stone, and it redeveloped a former steel manufacturing facility at 150 Blackstone River Road in Worcester into the headquarters of Imperial Distributors.
GFI could not be reached for immediate comment about the recent Sutton sale.
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