Real Estate

Real Deals highlights recently commercial property transactions in Central Massachusetts.

A 16,800-square-foot industrial building in Hudson has been sold for $1.15 million to the owner of a school transportation provider, according to a broker involved in the deal.

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Framingham Town Meeting voters this week approved a new zoning bylaw that officials say will allow businesses in three of the town's technology parks to add space by building upward, while also protecting open space from residential development. The bylaw would allow owners of residentially-zoned land with more than five acres to sell their development rights to companies that want to add square footage at their offices in one of the town's three “43D” sites, which are business parks subject to streamlined permitting under state law.

Part of Westborough Technology Park, which sits next to the westbound side of Route 9 near the intersection of Route 495, has been sold for $24.5 million.

The number of single-family homes placed under agreement last month was up 30 percent over April 2014, the Massachusetts Association of Realtors (MAR) reported Tuesday.

Real Deals highlights a recent commercial property transaction in Central Massachusetts. Commercial real estate firms that want to submit information on recent transactions can send it to editorial@wbjournal.com, or fax it to 508-755-8860.

In the face of stagnant interest rates, investors looking for long-term returns are dropping their money into commercial real estate filled with tenants holding long-term leases.

Corporate giants such as GE Healthcare Life Sciences and Boston Scientific have lifted Marlborough's profile as a prime destination for businesses by making the city their home in the last couple of years. But local economic development leaders don't want to leave the small players in the dust.