Medford Bertucci's Site Sells For 7 Figures: Report

MEDFORD, MA — The site of a still-standing local pizza chain spot sold at a seven-figure price this week, according to a report from Boston.com.

The Bertucci’s at 4054 Mystic Valley Parkway for $5.5 million in an auction held by Samantha Saperstein of Paul E. Saperstein Co. Auctioneers and Appraisers that took place in the restaurant’s parking lot on Tuesday, Jan. 13. The auction was won by brothers Ronen, Joseph, and Nir Drory, who manage a firm together that owns more than 20 Prestige Car Wash and Gas locations throughout Massachusetts, including nearby spots in Medford, Malden, Melrose, and Somerville. Despite purchasing the land, the trio reportedly plans on keeping the pizza eatery in place.

The location was once slated to be a $200 million life sciences development. However, the proposers of the project, RISE Development, filed for bankruptcy after it failed to repay a $25 million bank loan.

The Medford Bertucci’s is one of only eight dine-in locations left in the state. The business was founded in 1981 in Somerville.

Read more at Boston.com.

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