Marlborough office building sells for $16.5M
Photo | Courtesy | Avison Young
100 Crowley Drive in Marlborough
A 102,000-square-foot office building on Crowley Drive in Marlborough that's a highly visible presence just off Route 85 has sold for $16.5 million.
The buyer is Commonwealth Management, a Newton contractor, according to Avison Young, a real estate firm with local offices in Boston, which negotiated the sale and announced the deal Wednesday. Commonwealth Management bought the site from First Colony Development, which is registered to the same Carver businessman, Jon Delli Priscoli, who sold an adjacent undeveloped site in January for $4.6 million to a retirement community developer.
Delli Priscoli, the owner of Edaville Family Theme Park in Carver, sold another Marlborough property, a 44,000-square-foot office building at 250 Locke Drive, last fall for $24 million.
The sale of 100 Crowley Drive closed Feb. 14.
The four-story office building's tenants include semiconductor manufacturer Allegro Microsystems, which moved there in 2018 from its longtime Worcester location, and medical device manufacturer Boston Biomedical Associates. The building is 93% leased, according to Avison Young.
The seven-acre property was last assessed by the City of Marlborough at $8 million.
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