Housing supplier, moldings maker lease in Northborough warehouse
Photo | Grant Welker
A sprawling new warehouse at 301 Bartlett St. was built without tenants lined up but has reached 70% capacity before opening.
A new 220,000-square-foot warehouse that was built in Northborough without a tenant lined up appears to be a bet in the market that has paid off.
The warehouse at 301 Bartlett St., which was built on spec in real estate jargon, is already 70% leased.
Maintenance Supply Headquarters will lease 98,000 square feet and Metrie will lease 58,000 square feet, according to Colliers International, the firm that completed the leases.
Maintenance Supply Headquarters is a Houston-based supplier of appliances, doors, faucets and a broad range of other goods, primarily to the multi-family building industry. Metrie, which is based in Vancouver, B.C., makes window and door moldings and other indoor home decorative touches.
Metrie had outgrown space at 425 Whitney St. near the Solomon Pond Mall. For Maintenance Supply Headquarters, it's the company's first location in New England.
The owner of 301 Bartlett St. is a limited liability company registered to TA Realty, a Boston real estate investment firm that bought the site last July for $2.2 million.
The new warehouse adds to a growing stretch of Northborough for commercial and industrial uses east of the town center in what's now branded as Crossroads Logistics Park or Crossroads Industrial Park, with a total of roughly 1.7 million square feet of space in 14 buildings, only some of which are now built.
Work is beginning across Bartlett Street on a 300,000-square-foot warehouse. Next to that site, a FedEx distribution facility sold last year for $19 million to NorthBridge Partners of Wakefield, a commercial real estate firm. That property had just changed hands in 2014 for $16.8 million. It is one of three FedEx facilities in that stretch of town.
In April, Aho Development Corp. of New Hampshire bought about six acres of vacant land just around the corner at 400 Cedar Hill St. for $900,000.
Each of those sites are marketed as part of the Crossroads project, which also includes facilities for A. Duie Pyle and McKesson.
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