Boston, January 20, 2017 – Colliers International closed out 2016 with the $900,000 sale of a 20-acre land site located at 40-43 Kendrick Street in Wrentham, Massachusetts. Colliers/Boston Senior Vice President Bob Cronin represented the buyer, Galaxy Development of Auburn, Massachusetts, and Colliers/Minneapolis Vice President Robin Zellmer represented the seller, Pentair Corporation of Minneapolis, Minnesota. Galaxy Development plans to pursue a mixed-use project on the former Crosby Valve Co. headquarters site, a manufacturing complex Pentair had inherited through acquisition, but then relocated all operations to Minneapolis.
After fully vacating the Kendrick Street complex, Pentair completed an extensive environmental remediation program in 2016 and Colliers International was hired to sell the property. Pentair’s local representative, Bob Cronin of Colliers International Boston, commented that “despite some environmental challenges, Galaxy Development is very confident a high quality, mixed-use development on the Kendrick Street site will be a real ‘win-win’ project for both the developer and the local Wrentham community. Its great access to Route 1, I-495 and Wrentham Town Center is a major bonus for the project.”
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Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI is an industry leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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For further information, please contact:Christine Comey Lewis
InkHouse for Colliers International, Boston