LYNN — The properties at 364-370 Lynnway and 210-226 Blossom St. Extension were sold last week for $5.27 million, according to the Southern Essex Registry of Deeds.
The properties are in the same lot and are a commercial office building with waterfront offices.
The property is the strip mall where a Dunkin’ Donuts is located next to Hertz car rental.
Previously owned by David Zeller, whose insurance company is located on the property, the building was sold to Clocktower Development Corporation, which owns the clock-tower building next door.
The commonwealth generated revenue through the excise tax on this sale in the amount of $24,035.76.
Ed Schatz, who is the President and Chief Executive Officer of the Clocktower Development Corporation, said this sale will not affect the businesses there, as they all have leases that will be respected.
In regards to future plans for the 41,139-square-foot property, Schatz said there is nothing definitive.
“We don’t have any future plans right now,” Schatz said. “David Zeller was looking to sell and we thought the logical thing to do was to make sure we bought it, but we have no plans at the moment and are going to keep it as is.”
The Clocktower Development Corporation purchased the property under the entity Lynnway Redevelopment LLC, as it buys each piece of real estate under its own entity.
