Mayrand and Kelleher of Kelleher & Sadowsky arrange $2.75 million sale

Galaxy Development LLC of Auburn has purchased Cranston Print Works Co., 2 Worcester Rd., at Rtes. 12 and 16 near I-395 for $2.75 million. Galaxy Development is planning to build a shopping center on the site. Galaxy Development was represented by Matthew Mayrand and William Kelleher of Kelleher & Sadowsky Associates, Inc. In September 2011, the planning board approved the development plan, which includes 75,000 s/f of retail space. The 9.05 acre site was sub divided from the larger 40 acre site. Cranston Print Works is marketing the remaining 30 acre parcel improved with a 104,000 s/f warehouse building. Anthony Caner, Grubb & Ellis Company represents Cranston Print Works. The original mill was called "Sprague Print Works" and located in Cranston, R.I. After the Civil War, ownership passed to BB & R. Knight. The Knight Corp. licensed and operated the mill under the "Fruit of the Loom" trademark. In 1920, the William G. Rockefeller interests bought the Knight plant and reorganized it as Cranston Print Works Company. In 1936 with the purchase of the Slater East Village mill and print works in Webster. This is the site of the original Slater cotton mill established circa 1812 by Samuel Slater. It was at this historic mill that Samuel Slater developed the first American cotton-spinning machinery. In September 1977, Cranston Print Works restored and dedicated the clock tower in Slater's memory. Galaxy Development plans to relocate the historic clock tower to the corner of Rte. 16 and Rte. 12.