Littleton technology park sells $8M under assessed value
Monarch Technology Park, a 24-acre Class B office park in Littleton, has sold for $1.75 million, according to the Middlesex South District Registry of Deeds.
The property was purchased by an entity registered to Vitas Management & Development Cos., a commercial real estate agency based in North Andover.
The seller was an entity registered to Gebsco Realty Group, headquartered in Sudbury.
The sale, which closed Friday, marked a significant value decrease from the park’s previous sales. Gebsco bought the property in 2013 for $8.1 million, and the sale before that, in 2006, was $6.5 million. The Town of Littleton assesses the property at $9.3 million.
Located at 1 Monarch Dr., the property includes one 109,000-square-foot office building built in 1986, according to the Town of Littleton assessors’ data. The park’s tenants are mostly tech firms, including SANBlaze Technology and research and development company KEA Technologies, Inc.
The park is located less than a mile from an Amazon last-mile distribution center, which began construction in 2021 next to the intersection of I-495 and Route 2.
Gloss