A 1.5-story retail and office building in Southborough has sold for $925,000 to investors who intend to add modern amenities.
The building at 3-11 Turnpike Road is 7,778 square feet, according to SVN | Parsons Commercial Group | BOSTON that handled the transaction.
The property was originally built in 1970 and expanded in 1985. It is currently 93-percent occupied with retail tenants including Bill’s Liquor, Ashland Cabinet Corp., Ben’s Deli, and Hall of Comics.
“We received a tremendous amount of activity for this property. These types of commercial properties in Southborough do not come up for sale often as they tend to remain as family investments,” Marilyn Santiago, one of the advisors who handled the transaction, said in a statement.
The seller, Fletcher Realty Trust II, owned the building for over three generations. The new owner, VTT 46-56 Cedar Street LLC, is an entity of VTT Management from Framingham.
