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A small commercial building on Route 9 in Framingham has sold for $3 million, more than three times its assessed value, as the new owner plans a marijuana retail location at the property.
The 630 Worcester Road building, a 5,000-square-foot retail property, was sold to UT Framingham LLC, an entity registered to Gregory Thomaier of New York City. The entity Union Twist Inc., doing business as Union Twist Cannabis Co., is also owned by Thomaier, according to state business records with the Secretary of the Commonwealth’s office.
630 Worcester Road Realty Trust was the seller.
Thomaier and the company were the first in Framingham to be granted a host community agreement for a retail marijuana shop in the city. The company will source its products from licensed marijuana growers and does not plan to cultivate its own immediately.
In a business plan submitted to the city, the company said it expects to do $40 million in sales its first year in operation, with that figure rising to $56.7 million by year four.
The building is currently home to at least two businesses: the Sophia Medspa and Nabina’s Salon & Spa.
According to Framingham property records, the parcel was last assessed this year for just $859,600.
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