Boston firm buys Franklin warehouse for $20M
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12 Forge Parkway in Franklin
A sprawling warehouse on Forge Parkway in Franklin has sold for $20 million in the latest major transaction of an industrial facility in town.
It's the second transaction involving 12 Forge Parkway in the span of only a few months. A limited liability corporation with the address of Chicago firm ShopCore Properties bought the site in September for $20 million.
Only two months later, the property was sold again, this time for $50,000 more. The 242,000-square-foot building was bought by a limited liability corporation registered to the address of AEW, a Boston investment firm. The latest sale closed Nov. 14.
In a sign of growing demand for warehouse space in places like along I-495, the building previously sold in 2015 for $15 million.
The sale is the latest in a number of high-priced transactions in Franklin for industrial space.
Boston investment firm Marcus Partners bought an industrial facility at 210 Grove St. for $13.3 million and another at 176 Grove St. for $18.3 million. Both sales closed last fall.
Just over the town line in Bellingham, work has begun on a $30-million, 345,000-square-foot distribution facility at 160 Mechanic St.
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