Fitchburg warehouse bought for $520K by Brooklyn investment firm
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320 River St. in Fitchburg
A Brooklyn-based entity has purchased a Fitchburg warehouse for $520,000, with plans to continue to operate the site as a self-storage facility.
The warehouse, a three-story, 33,120-square-foot building located at 320 River St., was purchased by Fitchburg Self-Storage LLC in a deal finalized on July 8, according to Worcester Northern Registry of Deeds records.
Fitchburg Self-Storage LLC is an entity managed by Rise Ventures, a Brooklyn-based real estate investment firm specializing in commercial properties. Rise has five properties in its portfolio, with this property being its first purchase in Massachusetts, according to the firm’s website.
The property was sold by Dororthy Rouleau of Leominster. Rouleau is listed as the owner of Star Storage LLC, a Leominster-based entity that has managed a self-storage business at the site. When reached by phone, Rouleau said Fitchburg Self-Storage will soon be taking over operations of the facility.
The warehouse was constructed around 1900, according to City of Fitchburg property records, with the parcel being given a tax assessment value of $556,800 in 2024.
Bruce Gallant of Century 21 North East in Leominster served as the listing broker for this transaction.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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