Marlborough Village Plaza Sold For $5.7M
A Malden investor has purchased the Marlborough Village Plaza for $5.68 million.
Deed records indicate that the Marlborough Village Plaza LLC, managed by Salvatore Golisano, bought the five-building office and retail complex Nov. 25 from the Gilda Cordone Realty Trust.
Thomas Blakely of TRB & Associates in Lincoln said he has been retained by Golisano to help lease out some of the vacant retail space in the 62,446-square-foot complex. Blakely was also the exclusive listing agent for sellers Gilda and Gaetano Cordone, who bought the buildings in 2000 and 2001.
“It made sense for them at this point to sell,” Blakely said, due to the historically low interest rates.
Golisano is looking to add value to the property where possible, Blakely said. The buildings along Boston Post Road went up between 1974 and 1984, he said.
One possibility for improving the site would be bringing in a freestanding bank or drive-through restaurant near the front of the parking lot, Blakely said.
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