SVN / Parsons Commercial Group Acquires Development Site In Hopkinton For $3.8M

The development site located at 48-52 Main Street & 6 Cedar Street in Hopkinton, MA, was sold for $3,800,000. Spanning 14,693 square feet, the property was acquired by SVN / Parsons Commercial Group from the seller, Dennis Katz, at a price of $259 per square foot.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,800,000
• Market: Hopkinton, MA
• Asset Type: Development Site
• Buyer: SVN / Parsons Commercial Group
• Seller: Dennis Katz

Kyle Parsons from Parsons Commercial Group represented the buyer in this transaction, while Kelly McGovern from McGovern Commercial Sales and Leasing acted as the seller's representative. The buyer has proposed a 60,000 SF mixed-use development that will feature both residential units and street-level retail spaces.