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Newton Developer Sells Canton Industrial Property for $55M

Jun 3, 2020 | Reprints | Print

Photo courtesy of Google Maps

A Newton developer has sold the Canton headquarters of a big-and-tall clothing chain for $51 million.

The 675,154-square-foot facility is headquarters and warehouse space for Destination XL. Newton-based Service Properties Trust, a publicly-traded REIT, said the proceeds from the sale will be used for the repayment of debt. The buyer is an affiliate of Westbrook Partners.

According to assessors’ records, the two-story complex was completed in 1962.

SCV owned a portfolio of 329 hotels and 813 net-leased properties as of March 31. The firm reported first-quarter revenues of $484 million, down 7.8 percent.

B&T Daily