Greater Boston Commercial Properties, Inc. has completed the sale of 108 Milk St., a mixed-use flex building in Westborough, MA, following a successful stabilization effort. The 19,172-square-foot asset sold for $2.675 million to an investment buyer focused on stable cash flow and long-term upside in the MetroWest market.
The brokerage team of Tyler DeWolfe, Ben Gatti and Nishan Papazian with Greater Boston Commercial Properties brokered the transaction. The firm exclusively represented the seller and also procured the buyer, handling the assignment from initial listing through closing.
When DeWolfe and Ben Gatti first brought the property to market, 108 Milk St. was described as largely vacant, with significant lease-up work still to be completed. The team implemented a strategic leasing plan aimed at filling the vacant space and improving the income profile of the building to position it for an eventual investment sale.
As part of that strategy, the brokers secured multiple new tenants across the property. Notable users now in place include Cousins Maine Lobster, Baystate Window & Siding and Miss Lucy’s School of Dance. This multi-tenant roster reflects the property’s flexible configuration, which can support a variety of commercial operations.
The successful lease-up significantly enhanced the property’s cash flow and helped convert what had been a largely vacant flex asset into a stabilized investment opportunity. With income performance improved and occupancy bolstered by a mix of industrial and retail-oriented users, the asset was brought to the investment sales market.
The buyer, described as an investment-focused purchaser, targeted the asset for its stabilized income profile and perceived long-term potential in the MetroWest submarket. The transaction reflects demand for multi-tenant, mixed-use flex product that combines industrial bays with street-facing or customer-oriented space.
Located approximately half a mile from Route 9, 108 Milk St. benefits from roadway access that supports both local and regional users. The property features a combination of industrial bays and retail units, offering a versatile layout for a range of commercial uses.
By executing the lease-up plan and bringing new tenants into the project, the brokerage team was able to reposition the building from a vacancy challenge to an income-producing asset. That repositioning ultimately supported the $2.675 million sale and aligned with the buyer’s focus on both current cash flow and future upside in the Westborough area.
