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FRANKLIN, MA - Scott R. Hughes, President of New Dover Associates, Inc., Framingham, MA brokered the sale of 157 and 165 Grove Street, Franklin, Massachusetts to a joint venture of Hall Royce LLC and an institutional investor for Fifteen Million Eight Hundred Thousand Dollars ($15,800,000.00).
157 and 165 Grove Street are both recently built, fully leased, single story flex buildings totaling 166,402 square feet and located in the Grove Street Business Center. The two (2) buildings were developed, built and managed by The Maggiore Companies of Woburn, MA and their affiliates.
New Dover Associates, Inc., as the sole broker in the sale transaction, represented the Seller, One Grove, LLC (165 Grove Street) and Two Grove, LLC (157 Grove Street), affiliated entities of The Maggiore Companies, and procured the Buyer, GRE Grove Street One, LLC and GRE Grove Street Two, LLC. The buyer is in the process of accumulating a portfolio of industrial and flex properties throughout Massachusetts.
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