County Data Shows Big Ticket Franklin Real Estate Sales of 2023

Norfolk County Register of Deeds William P. O’Donnell reported that during 2023, twenty properties, a mix of commercial and residential, sold for more than $18,000,000, with an average price of $50,868,490.

The prices on the properties listed in this article relate to real estate sales during the period of January 1st, 2023, through December 31st, 2023 that occurred in the 28 communities that make up Norfolk County. Franklin properties are in bold type

The twenty real estate properties were:

20. 2121 Central Street & Henry Street, Stoughton, a 91-unit, 277-room assisted living facility, sold in April for $18,713,000;

19. 210 Grove Street, Franklin, a 167,000-square-foot warehouse and distribution facility, sold in July for $19,500,000;

18. 85 John Road, Canton, a 435,600-square-foot research and development facility on 10 acres, sold in August for $22,750,000;

17. 102–104 Revere Street, Canton, a 3-story apartment building known as “Millside at Heritage Park,” housing 60 units built on 2.24 acres, sold in February for $26,625,000;

16. 206 Grove Street, Franklin, a 150,000-square-foot warehouse and distribution facility, sold in July for $28,000,000;

15. Wheeler Circle, Stoughton, the 280-unit apartment complex, known as Stone Ends Apartments, sold in July for $28,972,000;

14. 176 Grove Street, Franklin, a 171,000-square-foot freight transportation center and warehouse, was sold in May for $29,500,000;

13. 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;

12. 40 Allied Drive, Dedham/Westwood, The Hilton hotel on the Dedham Westwood border sold in June for $41,900,000;

11. 57 Littlefield, Avon, multiple portions of land known as the "Avon Business Center" sold in July for $47,250,000;

10. 23.07 acres of land from the former U.S. Naval Air Station in Weymouth, sold in September for $50,000,000;

9. 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;

8. 45 Maple Street, Stoughton, a 49.98-acre asphalt and pavement quarry, sold on the first day of December for $62,000,000;

7. 135 Will Drive, Canton, a 417,014-square-foot warehouse and logistics facility on 26.3 acres of land, sold in December for $68,000,000;

6. 1284 Beacon Street, Brookline, the 8-story, 148-unit apartment building known as Pelham Hall, sold in December for $70,000,000;

5. 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;

4. 175-185 Campanelli Drive, Braintree, the 494,520-square-foot former United Liquors warehouse and distribution facility, sold in December for $77,500,000;

3. 51 Trotter Road, Weymouth, known as the MIO Apartments, an upscale residential studio apartment complex, sold in July for $94,600,000;

2. 8 Upland Woods Circle, Norwood, the 262-unit apartments complex known as One Upland, sold in December for $114,300,000;

1. The 472-unit apartment complex on the border of Canton and Randolph, known as Prynne Hills, sold in October for $143,500,000.

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," stated Norfolk County Register of Deeds William P. 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 mandated by state law from these 20 real estate sales totaled more than $4,639,206 for the state and county.

"Despite a slowdown in overall real estate activity throughout Norfolk County in 2023, there were still pockets of the market that saw significant growth and development, particularly in commercial real estate and rental property," noted Register O’Donnell.

In 2023, there were 8,192 property sales recorded in Norfolk County, down 20% compared to 2022. The average real estate sales price, which include commercial and residential property, was $1,083,609, down 8% from last year.

"With many observers of the market predicting mortgage interest rates to decrease in the first half of the upcoming year in 2024, we hope to see more robust real estate activity in 2024, with continued growth in commercial real estate, rental, and residential properties," said Register O’Donnell.