Office building near downtown Marlborough sells for $3.5M
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221 Boston Post Road East in Marlborough
A 35,000-square-foot office building on Route 20 in Marlborough has sold for nearly $3.5 million.
The buyer is an unnamed local private investor, according to Greater Boston Commercial Properties, a Northborough real estate agency that brokered the transaction. A limited liability corporation that bought the property in a deal closed May 1 is registered to the site's address at 221 Boston Post Road East, without additional information available from the Massachusetts Secretary of State's Office.
The seller, John Martin of Falmouth, according to the Middlesex Registry of Deeds, bought the building in 1988, Greater Boston Commercial Properties said.
The building, which stands on a busy corridor east of downtown Marlborough, stands on 2.3 acres and was last assessed by the City of Marlborough at $2.7 million. Tenants include American Energy Management and Personal Physical Therapy. It was sold at 82% occupancy, according to the brokers.
The buyer is planning new investments to the building's interior, including new granite, carpet and paint in common areas, Greater Boston Commercial Properties said.
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