Simonds Saw sells Fitchburg office for $5.6M
Brandon Butler
Simonds International CEO Ray Martino is at right in this 2011 photo.
Fitchburg tool manufacturer Simonds Saw, which said in October it would lay off employees and cut back operations, has closed on a $5.6-million sale of its site in the city.
Simonds has been located at 135 Intervale Road since the 1930s but has shrunk its operations there to eventually occupy less than one-third of the 347,000-square-foot building.
In a sale closed Oct. 30, Simonds sold the site to a group of buyers all registered to the address of GFI Partners, a Boston real estate advisory firm, and several registered to the names of GFI executives. They are 135 Intervale LLC, TPG Intervale TIC LLC, KIG Intervale TIC LLC, GFIT TIC 1 LLC, and WPD Intervale TIC LLC.
The property was last assessed by the City of Fitchburg at $6.4 million.
Simonds said in October the layoffs and reduction in manufacturing in Fitchburg were due to tariffs on steel, which have raised costs for manufacturers. The company said then it would sell its equipment for making bandsaw blades to the Swiss company Kaltband AG.
Simonds has said it will continue to operate its corporate offices, customer service call center, and a research and development and education technology center in Fitchburg.
WBJ Web Partners
Most Recent
Most Recent
0 Comments