market basket

Market Basket is one of the retail stores in the Bristol Place shopping plaza.

ATTLEBORO — Bristol Place, a busy Route 1A shopping center near the South Attleboro-Pawtucket line, has sold for $58 million.

Stephen Karol, who represents the sellers, local businessmen Joe Rando and Tony Bassett, said the sale became official last Friday.

Bassett and Rando owned the property under the name Bristol Property Management and sold it to Bristol Place Limited Partners. The new owners include the firm Unisom Realty Partners and another called Argosy, Karol said Thursday.

He said Rando and Bassett had owned the plaza for 42 years, starting when it was just a Holiday Inn.

“It’s really an end of an era,” Karol said.

The hotel is long gone but the plaza now includes a Home Depot, a Market Basket, a Hobby Lobby, an Olive Garden and more.

There is also an MBTA commuter rail depot at the site.

Attleboro Assessor Julie Hobson said the deal includes 38 acres of land and 485,000 square feet of buildings.

The $58 million price tag included the assumption of a $43 million mortgage. The city had the property assessed at $42 million.

“It was a good deal for everyone involved,” Karol said.

Jim Hand may be reached at 508-236-0399 or jhand@thesunchronicle.com. You can follow him on Twitter at @TSCpolitics.

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