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Granite Heights Marketplace on Fortune Boulevard in Milford, home to Staples and Petco retail locations, was sold to an affiliate of Mendon’s Meehan Realty Management Corp. for $10.3 million.
Quarry Place Three, LLC of Mendon purchased the portion of the plaza previously owned by Granite Park Retail LLC, an affiliate of National Development of Newton, in a transaction recorded on Friday by the Worcester District Registry of Deeds.
National Development purchased the development site in 2006 for $2.6 million and built up the 96,000-square-foot retail plaza with its affiliate Cranshaw Construction of Newton. The project cost $16.4 million, according to Cranshaw Construction’s website. At the time of its completion, the plaza was home to restaurant TGI Friday’s and retailers Best Buy, Mattress Giant, and Bed, Bath & Beyond.
The neighboring property at 250 Fortune Blvd., home to a Target store, is owned by the Target Corp. of Minneapolis and was not included in the transaction.
Meehan Realty Management Corp. is managed by Kevin Meehan, the owner of Mendon automotive giant Imperial Cars. Imperial-owned Imperial Toyota is nearby at 300 Fortune Blvd.
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