Framingham investment firm pays $14M for Milford sites
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455 Fortune Blvd. in Milford, bottom, and 420 Fortune Blvd. are two of three properties bought by Framingham firm AIS CRE.
A Framingham commercial real estate advisory and investment firm has paid nearly $14 million for a series of properties off Milford's Fortune Boulevard.
AIS CRE's purchases expand the firm's portfolio, which is otherwise heavy with commercial and industrial sites along I-495 including Ashland, Holliston, Hopkinton and Westborough.
AIS CRE's Milford purchases include $6.2 million for 420-450 Fortune Blvd., $5 million for 120 Quarry Drive, and $2.75 million for 455 Fortune Blvd. All three sales closed Dec. 24.
Those properties were sold by Milford Fenwal Realty, Milford Holmes Realty and Milford Spec Realty, respectively. All three entities are registered to the address of 120 Quarry Drive, which is home to Fafard Commercial Real Estate.
The nearly six-acre site at 420-450 Fortune Blvd., whose tenants include ProVerde Laboratories, was last assessed by the Town of Milford at $4.9 million; and the four-acre site at 455 Fortune Blvd., whose tenants include Retrofit Technologies, Certified Appliance Parts and Keystone Precision Instruments, was last assessed at $2.2 million. Information was not available for 120 Quarry Drive through Milford's assessor's database.
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