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February 7, 2022

Car dealer sells Grafton development site, turning $3-million profit

Photo | Google Maps The 10-acre lot, abutting an MBTA station and parking lot, was the last available site in Grafton's CenTech Park.

A nearly 10-acre plot of developable land in Grafton’s technology park CenTech Park, sold for $3.5 million, according to the Worcester South District Registry of Deeds.

The property, located at 5 Millennium Dr. in Grafton, was part of a regional effort by the Worcester Business Development Corp. to develop CenTech Park, a 121-acre technology park in Shrewsbury and Grafton meant to expand the communities’ tax bases and employment. The lot was the last site available in Grafton’s CenTech Park, according to the for-sale listing by Worcester-based Kelleher & Sadowsky Associates, who brokered the deal.

In June 2021, WBDC sold the 9.5 acres of land to LEP Centech LLC for $470,000, according to the deeds registry. That LLC was registered to Barry Lundgren, the son and business partner of Richard Lundgren, who established Honda car dealerships throughout Central Massachusetts starting in the mid-1960s. 

Lundgren sold the property on Jan. 28, however, for $3.47 million, turning a roughly $3-million profit.

The buying entity in this most recent sale, Claremont Grafton LLC, is registered to the president of Claremont Companies, a real estate development company headquartered in Bridgewater. The firm specializes in hotel, residential, and office development, per its website.

Claremont Companies declined to comment on their future plans for the property. 

Grafton Town Planner Christopher McGoldrick said the development plans have not changed on the town’s side of the equation. The town and Claremont Companies have not discussed the property’s future yet, McGoldrick said.

In a strategic plan from 2017, the town anticipated using the lot, which abuts an MBTA station, for a mix of office and residential development.

The property is assessed by the town at $617,000.

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