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Suburban Flex Building Trades for Nearly $5M

HOPKINTON, MA-The 43,000-sf property at 227-233 South St. is located in the Interstate 495/Massachusetts Turnpike submarket.

By Joe Clements | Updated on May 21, 2008

HOPKINTON, MA-A 43,000-sf flex/R&D building here has found a new owner, as 227-233 South St. fetches $4.8 million for the property’s developer, CRT Realty Trust. The one-story building, which features a mix of office and research space, had an occupancy of 93% at the time of the sale.

The building was acquired by a private investment group known as Mar S. Maple RT, a local operation. The seller was represented by Scott Hughes, president of real estate services firm New Dover Associates of Framingham. The broker for Mar S. Maple RT was R.W. Holmes Realty EVP John Eysenbach, who is handling leasing duties on behalf of the new owners. Efforts to contact Eysenbach by press deadline were unsuccessful, while Hughes declined to discuss details of the sale, citing confidentiality agreements. Also unavailable were the parties involved in the transaction, making it unclear what the near-term plans are for the building, which dates to 1987.

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