FRAMINGHAM – VTT Management has purchased the Salvation Army Building in downtown Framingham.
The 35 Concord Street 2-story building was sold for $1.1 million.
The Salvation Army has found temporary space at 59 Howard Street, but had to close its Miracle Kitchen.
The 31,404 square foot building, with on-site parking, had been home to the Salvation Army since 1980.
The building is in need of repairs.
Built in 1951, the building is assessed with the City of Framingham for $2.275 million. The land is valued at $204,300.
VTT Management is owned by Vaios Theodorakos.
VTT Management specializes in the acquisition, revitalization and management of undervalued and distressed real estate. The company purchased its first property in 1987, and owns several properties in downtown Framingham.