The former home of Gallo Motors at 366 and 386 Shrewsbury St. has been sold for $2.5 million.
The two lots, which total 2.16 acres, were sold to Szeto Investments LLC. Szeto plans to tear down most of the 25,000-square-foot building on the larger 1.4-acre property to make way for a new retail development, according to the Katz Cos. brokers who handled the sale.
The 0.76-acre lot is empty but paved.
Szeto bought the property from the Gallo Realty Co. Inc.
Carl Burwick and David Burwick, the Katz brokers who sold the property, are now the property’s leasing agents.
