Image courtesy of Google Maps

Texas-based developer Criterion Development Partners has bought a trio of industrial parcels on the Somerville/Boston line for $10.3 million.

LLCs controlled by the firm’s President W. Pretlow Riddick bought 52 and 56 Roland Street from Boston-based Paradigm Properties for $5.76 million and 20 Innerbelt Road from the City Club of Somerville, a social club, for $4.5 million, according to public records.

The parcels, which total 4.7 acres, currently host a small function hall, over 2 acres of surface parking and a pair of 1920s brick-and-beam industrial buildings on Paradigm’s parcels totaling 112,420 square feet. Paradigm had recently converted the space to office use with amenities like a fitness center and fiber optic service, and was marketing the property as ideal space for startups under the moniker RS/56, according to the building’s marketing website.

Criterion’s plans for the land were not immediately available but names on the LLCs used in the transaction – The Residences on the Green LLC and The Residences at Innerbelt LLC – suggest multifamily development.

The site sits just off Washington Street roughly halfway between the Sullivan Square transit hub and the planned East Somerville station on the Green Line Extension, planned to open late next year. Just beyond that station lies Union Square and the Boynton Yards area, both zones that have attracted intense interest from developers looking for more parcels to develop for office and lab uses to capitalize on the biotech industry’s dramatic growth in and around Kendall Square.