The Metrowest Daily News reports today Marlborough-based Ken’s Foods has purchased the warehouse at 325 Turnpike Road in Southborough. That’s the old Verizon building near the intersection with Crystal Pond Road.
The purchase puts to rest a plans by the building’s former owner to develop the property.
Former owner William Zielinski in 2008 presented several ideas to the Planning Board, including one proposal for a 987,000-square-foot office park, which he said would accommodate as many as 3,500 employees.
But the proposal never went anywhere, Town Planner Eric Denoncourt said, after the economy bottomed out shortly afterward.
According to records at the Worcester Registry of Deeds, Zielinksi bought the building for $24.1 million from Nynex in 2007. Verizon leased the warehouse until December 2009, and, according to the records, it was transferred back to the lender’s control in lieu of foreclosure last March.
Ken’s Foods bought the property, which includes more than 51 acres of surrounding land, for $15 million on Nov. 20, records show.
Ken’s didn’t comment on the purchase and haven’t said what, if anything, they’ll do with all the acreage on the site. You can read more about the purchase, including what selectmen and business leaders say about the deal, in this article by the MWDN.
What do you think? Is the deal a good one for Southborough? Share your thoughts in the comments below.
That building has not been well used in a few years. It’s nice to see a local company has purchased it, and will hopefully put it to some really good use.
It is very good news. Sure, an office park might look better and eventually produce more income, but we’ve got enough empty office space to last for a while (see properties by the reservoir). If you’ve never noticed how large the building is, go on that short leg of Deerfoot from Rte. 9 into where it joins with Clifford (or drive vice versa)… it is a HUGE building and we’re lucky that Ken’s wants it. Still, can’t help but remember when it was the Allen/Offut Farm, cows and all.