Framingham native continues to offload MetroWest properties, with Southborough plaza sale
Image | Courtesy of Google Maps
A plaza on Route 9 in Southborough has been sold for $1.65 million.
A plaza on Route 9 in Southborough has been sold for $1.65 million by an entity linked to a South Carolina-based property management company, the latest parcel offloaded by the firm.
The plaza, located at 3-11 Turnpike Road, was sold by VTT 46-56 Cedar Street LLC in a deal finalized on Thursday, according to Worcester District Registry of Deeds records.
That entity is managed by Vaios Theodorakos, the CEO and founder of VTT Property Management. Theodorakos purchased the plaza for $925,000 in 2016, according to Town of Southborough property records.
The property was purchased by 3-11 Turnpike LLC, a Southborough-based entity managed by Jasminkumar Soni and Maharshi Trivedi.
The plaza contains six commercial units with a total building size of 7,778 square feet, with only a small single office being unoccupied, according to a listing posted to the website of SVN Parsons Commercial Group | Boston.
Tenants at the plaza include Bill’s Liquors, Braza Pizzeria & Wings, and SERVPRO of Shrewsbury/Westborough, according to Google Maps listings.
VTT-affiliated entities have offloaded multiple MetroWest properties since 2023, including a 26-unit apartment in September and a 30-unit complex in December, both in Framingham.
Theodorakos grew up in Framingham and has held a large amount of properties in the city’s downtown area, including the former headquarters of VTT. He told city officials in 2021 he was planning to offload his holdings there due to what he called an increase in crime and homelessness, according to reporting by Framingham Source.
The Southborough plaza was constructed around 1985 and received a tax assessment value of 1.1 million in 2024, according to town records.
Marilyn Santiago and Garrett Quinn of Natick-based SVN Parsons Commercial Group | Boston served as the listing representatives 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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