Please do not leave this page until complete. This can take a few moments.
The owners of the former Evergreen Solar site in Devens have sold the fully-leased property for $36 million after initially purchasing the property for $8.3 million.
The 391,591-square-foot building at 112 Barnum Road was built in 2010 by Evergreen Solar before that company eventually filed for bankruptcy and moved to China. When Hackman Capital Partners and Calare Properties, of Hudson, purchased the property in 2012 it was vacant, Bryan Blake, the president and executive director of Calare, said.
“It’s a great asset in a very strong market and we had a lot of demand for this product from a tenant standpoint and an investor standpoint and we thought the timing was correct,” Blake said.
The building is currently leased to French polymer manufacturer Saint-Gobain and plastics manufacturer Nypro. Saint-Gobain does not currently have operations at the site, however. The property is located within the Devens Industrial Park directly off of Route 2. It is part of the redevelopment of Fort Devens, a 9,000-acre United States Military base that was closed in 1996, according to CBRE New England, whichrepresented Hackman and Calare in the sale. The park now includes Bristol-Myers Squibb and Quiet Logistics in addition to Saint-Gobain and Jabil.
“The Hackman/Calare team had incredible foresight for this building in 2012 and its importance in the marketplace at that time. The buyer has acquired a truly best-in-class facility and we expect them to have continued success moving forward,” Bill Moylan of CBRE said in a release.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.Sign up
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.Subscribe
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.See Digital Edition
In order to use this feature, we need some information from you. You can also login or register for a free account.