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NEWS & PRESS

07.23.2015
SIPPICAN WEEK - Spring Street commercial property sold for $450,000 at auction

By Matthew Bernat | Jul 23, 2015

MARION - Two commercial properties in the heart of Marionsold at auction Wednesday for $450,000 to a yet to be identified buyer.

The lots are located at 173 and 177 Spring St. and were sold together as a 1.35-acre parcel. Formerly home to a hardware store, café and ice cream shop throughout its history, the site is adjacent to the Sippican Café.

Approximately 20 people, including five registered bidders, curious developers and one Selectman, attended the 11 a.m. auction at the corner of Spring Street and Route 6.

Justin Manning, president of JJ Manning Auctioneers, started the bidding at $400,000 after touting the site as being a "high traffic, high visibility property close to Tabor Academyand Sippican Harbor...It's gorgeous down here."

Previously owned by John Sweeney, the property was last assessed at $496,000. It's most recent listing price was $799,000.

The winning bid was the auction's sole bid, made by Marion Attorney David Titus on behalf of an unnamed client.

Located between Cumberland Farms and Dunkin' Donuts, the parcel is also near a newly proposed gas station and retail development on Route 6.

The lot is zoned general business and includes 205 feet of frontage.

In order to participate in the auction, bidders needed a 10 percent deposit of which $25,000 must have been cash, certified or bank check.