NEOTech sells Westborough location for $20M, marking a doubled sale price
Photo | CoStar
NEOTech's Westborough location sold for $20.6 million.
Electronics manufacturer NEOTech, Inc. sold its Westborough location on Fisher Street for $20.6 million last week, according to the Worcester South District Registry of Deeds.
In a deal closed Nov. 16, a corporation registered to NEOTech’s California headquarters sold the nearly 200,000-square-foot property. It was sold to a firm registered to the address of Lincoln Property Co., a commercial and residential real estate company based in Dallas.
LPC has also made other regional moves recently. It was approved by the City of Marlborough in November to construct a 121,000-square-foot biotech facility, and in August negotiated a lease with food provider TriMark USA in Bellingham.
Neither the buyer nor the seller was available for immediate comment.
Located on 125 Fisher St., the Westborough property is nearly 24 acres with 198,000 square feet of finished warehouse space built in 1972, according to the Westborough assessors data.
It last sold to NEOTech in 2017 for $10 million, meaning the property sale price has more than doubled in the last four years. It is assessed by the Town of Westborough at $10.4 million.
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