Worcester Sand & Gravel sells Shrewsbury land for $7M
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Worcester Sand & Gravel operates a 113-acre site between Route 70 and Shrewsbury High School.
Worcester Sand & Gravel has sold its Shrewsbury property for $7.45 million.
The buyer is a limited liability corporation registered to the address of GFI Partners, a Boston real estate consulting firm. The deal includes sites on Burokas, Clinton, Holden, and Maplehurst streets in an area between Shrewsbury High School and Route 70.
Worcester Sand & Gravel is continuing its operations at the 113-acre site following the sale, which closed Jan. 28.
The buyer of the Worcester Sand & Gravel site, 160 Holden Street LLC, is also registered to the address and president of Boston's Matteson Cos., a real estate investment firm.
The Shrewsbury site was last assessed by the Town of Shrewsbury at $3.8 million.
GFI Partners has also been connected to other notable Central Massachusetts sales in the last few months. Those include Simonds Saw's $5.6-million sale of its 135 Intervale Road facility in Fitchburg last October and a 168,000-square-foot manufacturing facility at 5 Cudworth Road in Webster for nearly $6 million last July, both of which a GFI-connected entity bought.
GFI also sold two major area assets, including a Quiet Logistics facility in Devens, the former AMSC headquarters, for $36.7 million to Morgan Stanley Real Estate Advisor last May, and a 147,000-square-foot distribution facility in West Boylston, which was sold last July to a Connecticut investment firm, Wheelock Street Capital, for $10.6 million.
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