January 24, 2019

Marlborough Airport sale closes at $1.9M

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Capital Group Properties has bought Marlborough Airport with plans to build a series of industrial buildings.
Image/Courtesy
A site plan image shows the proposal for 12 industrial buildings at Marlborough Airport, with Farm Road running along the left of the image.

A Southborough developer planning a new industrial park at the Marlborough Airport has bought the site for just under $1.9 million.

Capital Group Properties bought the small airport in a sale that closed Dec. 20, according to the Registry of Deeds.

The developer is planning 12 industrial buildings on the site, with an anticipation of drawing companies in the Marlborough area looking to acquire a site to develop, said Bob Depietri, a vice president for Capital Group Properties. Many companies are having to lease facilities because of a lack of smaller industrial buildings for sale in the market, he said.

Sandy Stetson, who purchased the facility with her late husband in 1999, told the Marlborough City Council last year she supported Capital Group Properties' initial plan for the site, a 114-unit senior living complex.

She told city officials she was initially reluctant to sell the airport, but it hasn't been profitable for years and she was looking forward to retirement.

Capital Group Properties is also building Maynard Crossing, a $130-million retail-and-housing complex at a former site of defunct tech company Digital Equipment Corp. in Maynard. The company owns a series of office buildings in Southborough and the Northborough Crossing retail complex.

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