The site of a Lowe’s in Framingham near the Shoppers World shopping center has been sold for $32.6 million to a Boston-based real estate firm.
The site of a Lowe’s in Framingham near the Shoppers World shopping center has been sold for $32.6 million to a Boston-based real estate firm.
Three entities managed by The Mount Vernon Co. purchased the site in a deal finalized on Sept. 15, according to Middlesex South Registry of Deeds records. The site was sold by an entity managed by Chicago-based real estate firm M&J Wilkow.
The Lowe’s at 350 Cochituate Road opened in 2007. Lowe’s has a ground lease for the site expiring in October 2031, according to real estate data provider CoStar.
The Mount Vernon Co. owns apartment, commercial, and retail buildings across southern New England, according to its website. The Framingham site is the only Central Massachusetts-based asset in the company’s 52-property portfolio, according to CoStar. The company was founded by Bruce Percelay in 1983.
M&J Wilkow purchased the site for $32 million in 2005, prior to its development into a Lowe’s, according to Middlesex South Registry of Deeds records.
Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin, and Matt Ericson from Boston-based Atlantic Retail brokered the transaction, according to real estate data site Traded.
The 10-acre site received a 2025 tax assessment value of $22.59 million, according to City of Framingham property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
