A local man, Tuankhan "Tony" Vu, has paid $5 million for a large industrial property at the corner of Pleasant and Hancock streets.

The property, formerly housing a manufacturer of industrial kitchen and healthcare furniture called Servolift Eastern Corp., will be redeveloped, according to Ferdinand Alvaro Jr., Vu's attorney. Alvaro said no details are available yet because Vu is in California. Servolift was acquired and moved by Wisconsin-based competitor Piper Products.

"We've had some preliminary discussions with the community," said Alvaro. "Tony's family has been doing business in Dorchester for quite some time. When he gets back… we will explain what we're doing there. We think it will be pretty positively received."

PETE STIDMAN