Four Papa Gino's properties in Central Mass. sell for $5M
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The Papa Gino's at 681 W. Boylston St. in Worcester sold for nearly $1.3 million.
Papa Gino's properties in Worcester, Leominster and Sudbury have sold for a combined roughly $5 million.
All four pizzeria properties have the same buyer and seller. In each case, a limited liability corporation registered to the address of New York private equity firm U.S. Realty Advisors sold to a limited liability corporation registered to Essential Properties Realty Trust of Princeton, N.J.
The Papa Gino's at 681 W. Boylston St. in Worcester sold for nearly $1.3 million, and another at 915 Grafton St. for $1.1 million. A third at 35 Commercial Road in Leominster sold for $1.4 million, and a fourth at 104 Boston Post Road in Sudbury sold for about $1.2 million.
The sales all closed in late January, according to the Worcester and Middlesex registry of deeds.
The same seller unloaded the now-closed Framingham Papa Gino's site at 1133 Worcester Road last June for nearly $1.3 million. The buyer in that case was a limited liability corporation registered to Stephen Harrington of Plymouth Meeting, Pa.
The transactions come after Papa Gino's filed for bankruptcy in November 2018. Among store closures announced then were three Papa Gino’s locations in Worcester on Chandler Street, Southwest Cutoff and Main Street. The Framingham location was closed two months later.
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