Former Marlborough Airport Industrial Building Sold For $1.25M

Marlborough MA

12 May, 2022

12:49 PM

Description

MARLBOROUGH, MA — The owner of an industrial park at the former Marlborough Airport site sold one of 20 buildings planned for the site this week for $1.25 million. A private buyer bought the 5,000 square-foot building off of Farm Road, according to development owner Capital Group Properties. "With rising industrial rents and the changing development landscape east of Route 128, we continue to see smaller non-traditional flex users inquiring and interested in owning in Marlborough as other industrial buildings in the submarket and nearby submarkets are being held for larger single-user demand," Capitol Group associate Brendan Carroll said in a news release. The development already has eight buildings in operation and two more under construction. The park will eventually hold 20 buildings for a mix of commercial and industrial uses, according to the company. The Marlborough Airport opened in 1922 to serve the then rural areas between Boston and Worcester. Former owner Sandy Stetson was the last operator of the airport. She put it up for sale in 2016, and Capitol Group bought the 10-acre site in 2018 for about $2.25 million.