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Town property sales face tough market

May 28, 2012
SOUTHBRIDGE — What now looks like an undifferentiated area of hillside will become up to nine businesses if Town Manager Christopher Clark's industrial park plan comes to fruition.

On Monday, May 21, the Town Council authorized him to start the process of selling some of that land totaling 10.79 acres on the north side of Commercial Drive for a minimum of $270,000. That figure is based on the recent appraisal, which states that dividing the land into nine parcels has a "hypothetical market value of the divided parcels sold individually [of] $390,000."

Local real estate agent Brenda Ryan is a little skeptical because the commercial market is "stagnant." She sees some hope, however, because the residential market is picking up and commercial is usually "about six months behind."

For more on this story, please see tomorrow's Southbridge Evening News.

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