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Boston-based Marcus Partners has acquired a leased Blackstone Valley industrial property with expansion potential.

The property at 17 Gilmore Drive contains a 116,823-square-foot class A warehouse fully occupied by Advance Auto Parts. The transaction includes an option to expand the building, which is located on a 16.9-acre parcel, by an additional 96,000 square feet.

The developer acquired the property for $17.5 million, according to a deed filing in Worcester County. The seller was IJAN MA LLC of Armonk, New York.

The acquisition expands Marcus Partners’ industrial portfolio to over 3 million square feet.

“The investment provides an attractive mix of stable cash-flow with an option to expand on an existing Class-A quality building in a desirable industrial location,” Ryan McDonough, principal at Marcus Partners, said in a statement.

Completed in 2003, the building features 28-foot clear heights and is located off Route 146 in the eight-building Sutton Commerce Park.

Charlie Luce and John Meador of Casco Real Estate Partners facilitated the off-market transaction.