An office and data center has been sold outside Boston, Massachusetts.

JLL Capital Markets announced this week that it has completed the sale and financing of 117 South St. in Hopkinton.

Set on three acres in Middlesex County, between Worcester and Boston, the currently vacant two-story office and data center building totals 56,325 square feet (5,230 sqm).

JLL marketed the property on behalf of the confidential seller, and procured the buyer, real estate investment firm Rhino Capital Advisors.

The seller and sale price weren’t included, but BLDUP indicates Dell’s EMC sold the facility for $4.15 million.

Online listings suggest the site was previously occupied by EMC for hosting its backup and recovery services and Virtustream cloud services subsidiary, and later by Dell after its acquisition.

JLL worked on behalf of Rhino to secure the acquisition financing. Loan proceeds were used to acquire the property, and future proceeds will be used for the repositioning of the building. Rhino plans to increase the ceiling height by removing a portion of the second floor to better accommodate R&D/flex use.

In its own announcement, Rhino said it had executed a long-term lease with audio firm Bose Professional to occupy the entire building.

“As part of Bose Professional’s buildout, we will be removing a portion of the second floor, providing two-story clear height for their assembly and manufacturing areas,” Rhino said. “We look forward to executing the repositioning of the building with the help of Elite Construction and Design Inc.”

Focused on acquiring underperforming or undervalued assets, Massachusetts-based Rhino Capital has previously owned and divested a 200,000 sq ft (18,580 sqm) data center in Fall River, a city southeast of Providence. Located at 456 Bedford Street, Rhino acquired the property in July 2020 via an 11-year sale-leaseback with data management firm Congruity360. Built in 1940 and renovated 2016, Rhino sold the site in 2022.