Assessed for just over $12,000,000, the plaza consisting of the anchor store, Stop and Shop, has sold to Orion Framingham Shop LLC, a Florida based corporation owned by Orion Real Estate Group. This group typically purchases properties at a discount and then seeks to sell them at a profit. They also have properties in 21 states, the closest being Connecticut, where they hold 5 KFC restaurants.
The real estate transaction closed on 3/2/2023 for a purchase price of $15,749,370.
What is more interesting is the mortgage that was taken out on the property in the amount of $94,000,000 dollars. Will this plaza become the next mega apartment complex in the city?
