Braintree developing giant Campanelli sold part of its 276-acre Business Park of Uxbridge for $18.5 million, according to the Worcester South District Registry of Deeds.
The property was sold to investment funds managed by New York-based Morgan Stanley Real Estate Fund, Inc., according to a Wednesday press release from, Campenelli. In the deed, the buyer is Uxbridge Industrial Property Owner LLC, which is registered to the address of Seyon Group, a Boston industrial real estate company.
In a deal closing Oct. 12, the company sold a 65-acre lot at the end of Campanelli Drive in Uxbridge, which is currently the construction site of a planned 450,800-square-foot warehouse.
Located at 130 Campanelli Drive, construction of the new warehouse was approved for special permitting by Uxbridge Planning Board in May. The building is expected to be completed by late fall 2022, according to the press release. It will include 100 loading docks, 110 trailer spaces, and 300 parking spaces, per the website.
Campanelli bought the 276-acre site of the business park in 2018 and have since developed several facilities on the property.
The business park already includes three other buildings, totalling 974,000 square feet, which are leased out to healthcare manufacturer Medline Industries, LP and Cultivate’s cannabis growing facility.
Campanelli owns 14 other business parks and a number of apartment and office buildings throughout Massachusetts.
