Littleton mill building sold to Lawrence developer for $5.3M
Photo | Courtesy of The Stubblebine Co./CORFAC International
A multi-tenant former mill property at 410 Great Road and 450 King St. in Littleton sold to a Lawrence developer for $5.3 million.
Lupoli Companies, LLC, represented by Principal Sean Fraser of Stonybrook Advisors in Westford, purchased the 107,000-square-foot industrial/flex property from M.I.R. Associates Realty Trust and 450 King Street LLC of Littleton, according to a press release from The Stubblebine Co./CORFAC International of Lexington, whose principals Micah and David Stubblebine represented the seller.
The deal was completed on Jan. 13, according to the Middlesex South Registry of Deeds.
Built in 1880, the building at 410 Great Road, known as the Conant Houghton Co. Building – Old Mill, was first used for evaporating apples and making cider and vinegar. As the industrial architecture evolved from the 19th century to the 20th, manufacturing in the property expanded to suspenders, military webbing, and elastic weaving, according to the press release.
Today, the building is home to a number of businesses, including several firearm dealers. The 83 weapon vendors in the building are being investigated by the U.S. Bureau of Alcohol Tobacco and Firearms, according to a report by the Boston Globe.
Lupoli Companies has developed commercial and residential properties in Boston, Lawrence, Haverhill, and Lowell, including the Riverwalk Lofts in Lawrence and the Thorndike Exchange in Lowell. The company is led by President and CEO Sal Lupoli.
The 450 King St. property was last sold in 2006 to 450 King Street LLC for $275,000. M.I.R. Associates Inc. purchased 410 Great Road in 1973 for $200,000 before transferring ownership to M.I.R. Associates Realty Trust in 1989.
The combined property is assessed by the Town of Littleton at $3.2 million.
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