Boston firm pays $13M for second Franklin warehouse
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210 Grove St. in Franklin
A Boston realty group has paid $13.3 million for a warehouse in Franklin directly next to where it bought a similar building only two weeks prior.
Marcus Partners bought a 168,000-square-foot industrial facility on 15 acres at 210 Grove St., which the firm said creates additional value given a limited availability for industrial and warehouse buildings in the area. The company said it would improve the building with new investment including additional loading capacity, and be able to accommodate a new warehouse of between 100,000 and 150,000 square feet.
The sale closed Nov. 5. The seller was CG Grove Street LLC, a corporation tied to two real estate firms, Calare Properties of Framingham and the Grossman Companies of Quincy.
The property last sold for nearly $4.3 million in 2014, and was last assessed at just over $6.4 million.
Marcus Partners bought the adjacent 168,000-square-foot warehouse at 176 Grove St. for $18.3 million as part of a four-site purchase, along with warehouses in Avon, Peabody and Wilmington as part of an expansion of its industrial portfolio across the Boston area.
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