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January 27, 2020

Two-story Marlborough medical office building sells for nearly $3M

Photo | Courtesy of Greater Boston Commercial Properties Medical office building on Forest Street in Marlborough sold for $2.98 million.

Marlborough Education LLC has purchased a medical office building on Forest Street in Marlborough for $2.98 million.

The deal closed on Jan. 8.

The Illinois-based LLC is managed by Michael Liyeos and Robert Walters, who run the Illinois company Quattro Development, which has projects through the U.S. This is the company's first facility in Massachusetts.

Liyeos and Walters took a $5.1-million mortgage for the 13,372-square-foot brick, glass, and steel building from RRA Capital Management LLC in Phoenix, according to the Middlesex County Registry of Deeds.

The seller, Lake William Marsh LLC, a Natick real estate company managed by Pasquale and Louis Franchi, bought the land in 2012 for $145,000 and built the office building. It is assessed at $1.5 million, according to the Marlborough Assessor’s Office.

Bret O’Brien and Tyler DeWolfe of Greater Boston Commercial Properties in Northborough represented the seller.

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