News: Front Section
Posted: June 24, 2022
Hughes of New Dover Associates handles $6.1m sale to Stonegate Group
Westborough, MA Scott Hughes, president of New Dover Associates, Inc., represented the seller, 134 Flanders Road LLC, and procured the buyer, Stonegate 134 Flanders Road 2022 LLC, an affiliated entity of Stonegate Group of Natick, Mass., in the sale of 134 Flanders Rd., for the purchase price of $6.1 million.
134 Flanders Rd. is a three-story multi-tenanted and fully air-conditioned office building comprised of 57,421 s/f with parking, a passenger elevator, a furnished common conference room, showers and a tailboard loading dock with overhead door.
The 5.84-acre property is well-situated between the city of Worcester and city of Boston, with access to I-495 and I-90, as well as Rtes. 9 and 30. 134 Flanders Rd. is near many national and local businesses including medical practices, corporate offices, financial services, and laboratories.
134 Flanders Rd.’s tenants include a range of stable companies, from medical devices to software, insurance, and security services. The office building was constructed in 1988 with common area renovations completed in 2017 and features a brick exterior and two-story glass atrium.
Financing for the purchase was provided to Stonegate by Avidia Bank.
“We are extremely pleased to announce the purchase of this prominent property. 134 Flanders Rd. is yet another addition to the growing list of commercial properties in the Greater-Boston and MetroWest markets added to our portfolio over the past eighteen months” said Sean McGrath, CEO at Stonegate Group.
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