Hopkinton industrial property sold for $1.3M
A 9,750-square-foot Hopkinton property has changed hands for what brokerage firm Greater Boston Commercial Properties described as an “unprecedented value.”
Sold at $131 per square foot for a total of $1.28 million, the industrial property at 71 South St. is two-thirds two-story office space with the remaining area being industrial drive-through bays.
“The value here is truly in the 3.82 acres of industrial land located less than a mile from Exit 21B off (Interstate) 495, and which can be utilized in (a) manner that is very difficult to find so close to 495 or the Mass Turnpike,” said Greater Boston Commercial Properties Senior Associate Benjamin Gatti, who procured the buyer.
Granite company to convert space
The property was owned by Equipment & Systems for Industry for nearly 20 years. The company had used the fenced-in contractor’s yard to store heavy equipment.
The new owner of the building is Walpole-based Galaxy Granite, which purchased the property on Feb. 7. They plan to convert the building into an office, showroom and fabrication hub, the broker said. They will use the outdoor space to store slabs of granite.
Bret O’Brien, president and founder of Greater Boston Commercial Properties, represented the seller.
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