Norfolk County Register of Deeds William P. O’Donnell reported that during the summer of 2023, ten properties, a mix of commercial and residential, sold for more than $11,000,000, with an average price of $34,887,000.
The prices on the property to follow concern real estate sales during the period of July 1st, 2023, through September 20th, 2023.
real estate sales 3rd Quarter of 2023
The ten properties were:
- 108 Bodwell Street, Avon, a 49,090-square-foot industrial warehouse built in 1970 on 6.33 acres of land, sold in August for $11,250,000;
- 85 John Road, Canton, a 435,600-square-foot research and development facility on 10 acres, sold in August for $22,750,000;
- 206 Grove Street, Franklin, a 150,000-square-foot warehouse and distribution facility, sold in July for $28,000,000;
- Wheeler Circle, Stoughton, the 280-unit, 809-room apartment complex, known as Stone Ends Apartments, sold in July for $28,972,000;
- 176 Grove Street, Franklin, a 171,000-square-foot freight transportation center and warehouse, was sold in May for $29,500,000;
- 25 & 40 Kenwood Circle, Franklin, A multi-building storage and distribution center with a combined 200,000 square feet of space was sold in July to Boston Infill LLC for $37,500,000;
- 57 Littlefield, Avon, the "Avon Business Center," a multi-building rental unit complex for industrial companies and small businesses, in July for $47,250,000;
- Finnell Drive Industrial Park, the 5-building, 246,625-square-foot industrial park located in Weymouth, sold on the last day of August for $51,000,000;
- Walpole Mall, which sits on 31 acres of land along the Boston Providence Highway, sold in July for $71,950,000 to LCR Walpole LLC;
- 29, 39, & 51 Trotter Road, Weymouth, known as the MIO Apartments, an upscale residential studio apartment complex, sold in July for $94,600,000.
The top sales appear to have been a combination of apartment complexes, retail, industrial and warehouse space, and distribution facilities.
"The industrial and commercial nature of these developments bodes well for the Norfolk County economy, both in terms of employment and revenue," said Register O’Donnell. "This also indicates that Norfolk County is not only a desirable place to both live and work but is also a magnet for business, industry, and trade."
Excise taxes from these 10 sales totaled more than $1,927,000 for the state and county.
"Despite the overall decline in activity throughout the county, there are still pockets of the market here in Norfolk County that are seeing growth and stability, particularly in commercial real estate and certain neighborhoods and property types," noted Register O’Donnell.
Since July 2023, there have been 2,068 property sales recorded in Norfolk County, down 21% over the same time period last year. The average sales price for these properties which include, commercial and residential property was $1,235,419, up 8% from last year.
"As we head into the fall season, we hope to see similar real estate activity, but higher property prices, relative to relative 2020 and 2021 prices, and a limited supply of new and existing homes, along with the interest rate environment the economy is in, may temper expectations," said Register O’Donnell.
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The Norfolk County Registry of Deeds, located at 649 High St., Dedham, is the principal office for real property in Norfolk County. The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities, and others with a need for secure, accurate, and accessible land record information. All land record research information can be found on the Registry's website, www.norfolkdeeds.org. Residents in need of assistance can contact the Registry of Deeds Customer Service Center at (781) 461-6101 or email us at registerodonnell@norfolkdeeds.
