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Investment Group Buys 146,000-SF Office Building

GREENFIELD, MA-The $3.7 million deal for the multi-tenanted property was brokered by CB Richard Ellis.

By Joe Clements | Updated on September 18, 2000

GREENFIELD, MA-Development Associates, a private real estate investment group, has acquired 101 Munson St., a first class office building located just off Interstate 91. The company purchased the 146,000-sf building from Phoenix Home Life Mutual Insurance Co. for $3.75 million, secured by a $3.6 million note from Greenfield Savings Bank.

The new owners plan to make substantial upgrades to the multi-tenanted building, whose current occupants include Phoenix Home Life and General Electric Financial Advisors.

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