Southwest Properties, LLC of Boylston, has completed the purchase of 725 Grafton St., a 36,000 s/f plaza, from ISM Holdings, Inc. also of Boylston, for $2.6 million. The plaza is on 4.2 acres, has 610 feet of frontage and is anchored by the city's newest Family Dollar.
Other retailers include Advance Auto Parts, long-time tenants H&B Liquors and Mike's Laundromat which have been located in the plaza since it was built in 1989.
"This latest acquisition represents our fourth shopping plaza and we are excited about the addition to our portfolio" said Lenny Brescia, president of Southwest Properties.
The transaction was completed without a broker since the seller, Roy Brazelton, CEO of ISM Holdings, Inc. and Brescia are well acquainted.
Financing was provided by Bob Kelly, senior vice president of commercial lending at United Bank.