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GFI Acquisitions to Develop 1M-SF Industrial Park

LITTLETON, MA-GFI Acquisitions LLC purchases 108 acres of industrial-zoned property on Route 2A. In September 2000, GFI Acquisitions purchased the adjacent 74 acres that has an existing 400,000-sf industrial building. GFI plans to develop 600,000 sf of single story industrial space on this property.

By Naomi Grossman | Updated on April 05, 2004

LITTLETON, MA-GFI Acquisitions LLC has purchased 108 acres of industrial-zoned property on Route 2A. The firm acquired the parcel from 53 Ayer Road Associates for $3.9 million. GFI plans to develop 600,000 sf of single story industrial space on this property.

The sale is the second part of a two phase deal. In September 2000, GFI purchased an existing fully leased 400,000-sf industrial building situated on 74 acres. The firm paid $4.5 million for the property. In this second and final part of the deal, GFI is acquiring the adjacent 108 acres of the parcel which is located in back of the first parcel.

Meredith & Grew Inc.’s Robert E. Cronin, vice president, represented the seller and procured the buyer in the transaction. He tells GlobeSt.com that the deal was done in two stages to give GFI time to go through the permitting process with the town to get approved for its industrial building. Cronin notes that the project is now fully permitted.

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