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April 20, 2023

Hopedale land sold for $15M for planned 600,000-square-foot warehouse

Overhead view of concrete and gravel plant Photo | Google Maps GFI Partners will build a 600,000 square-foot warehouse on the 141-acre lot at 75 Plain St. in Hopedale.
A cement truck at the entrance to an industrial property Photo | Google Maps The entrance to 75 Plain St. in Hopedale which was sold to developer GFI Partners

An affiliate of Boston developer GFI Partners purchased a 141 acre property in Hopedale for $15 million to build a 616,875-square-foot warehouse.

The property was sold by Rosenfeld Concrete Corp., a subsidiary of Boston Sand and Gravel on Tuesday, according to the Worcester District Registry of Deeds. The company will relocate its Hopedale operations according to reporting in June 2022 by the MetroWest Daily News.

The warehouse project was approved by the Town of Hopedale Planning Board in May. In October, the Commonwealth of Massachusetts Land Court found that the project was acceptable under the town’s zoning laws, and the project was approved by the town’s zoning board of appeals on February 22.

According to paperwork filed with the town by the developer, the project will bring 300 new jobs to the town and provide over $1,000,000 per year in tax revenue to the town.

GFI also owns the 185-acre former Worcester Sand & Gravel site at 160 Holden St. in Shrewsbury. According to GFI’s website, the company is working with the Town of Shrewsbury to build an industrial park or similar project. It purchased the property in 2020 for $7 million.

GFI has developed industrial properties throughout Central Massachusetts and MetroWest, including a 550,000-square-foot industrial park at 300 Financial Park Drive in Franklin and the 630,000 square-foot warehouse and headquarters of Imperial Distributors at 150 Blackstone River Road in Worcester, according to the GFI website.

The company has developed office properties, including several in Acton, and multifamily residential projects in Eastern Massachusetts.

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