Worcester warehouse sold for $6.5M to entity linked to Biomere life sciences firm
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30 Pullman St. in Worcester
A warehouse near Interstate 190 in Worcester has been sold for $6.5 million to an entity associated with Biomedical Research Models, a Worcester-based, non-clinical contract research firm that conducts business as Biomere.
The company operates as part of Joinn Laboratories, a pharmaceutical manufacturing firm headquartered in China.
The property, located at 30 Pullman St., was sold in a deal finalized Tuesday, according to Worcester District Registry of Deeds records. The transaction included 61A Mountain St. West, a narrow strip of land adjacent to the warehouse.
The entity was sold to PLMN Holdings LLC, a Worcester-based entity with an address of 57 Union St., the site of Biomere’s Worcester facility. The manager of the entity is Zhou Fengyuan, an individual who has been engaged with an entity that manages real estate for Joinn Laboratories, according to 2022 financial disclosures submitted to The Stock Exchange of Hong Kong.
A press release issued Wednesday by PLMN’s legal representation, Worcester-based law firm Peters & Sowyrda, did not confirm that Biomere was linked to the transaction, but said PLMN is a firm interested in acquiring real estate assets in Central Massachusetts with a focus on supporting growth in the life science industry.
The property at 30 Pullman St. is the only Central Massachusetts property owned by PLMN, according to property deed records for the four registry districts that comprise the region.
“PLMN explored other options for its initial purchase, but concluded that this site, with its proximity to Interstates 190 and 290 and Worcester’s burgeoning biomedical business community, made the most sense,” Norman Peters, an attorney with Peters & Sowyrda, said in the press release. Peters went on to say PLMN has no specific plans to renovate or construct a facility at the location, but that its target is to eventually construct a high-tech biomedical facility there.
The company, founded in 1996, conducts preclinical research involving animal testing, according to a document on the company’s website. The document states the company treats animals humanely and follows guidelines to ensure animals are respectfully treated.
An annual report submitted by the company to the U.S. Department of Agriculture Animal and Plant Health Inspection Service for fiscal 2022 said 1,119 non-human primates and 297 rabbits were used in experiments, teaching, research, surgery, or tests during that time frame at Biomere.
Joinn was founded as China’s first privately-held non-clinical contract research organization in 1995, according to the company’s website. It became a publicly-traded company in 2017 and merged with Biomere in 2019.
Biomere did not return a phone message from WBJ seeking to confirm its purchase of the property or its intentions for the space.
The property was sold by Pullman Street Realty LLC and MM Pullman LLC, two Connecticut-based entities managed by Salvatore Carabetta. The building at 30 Pullman St. had previously been slated to become a cannabis cultivation facility to be operated by under the name RC Cultivation LLC, with Carabetta listed as an owner of the company on application documents submitted to the Massachusetts Cannabis Control Commission.
The approximately 125,000-square-foot warehouse at 30 Pullman St. sits on a 7.5-acre site and features three drive-in doors and 324 parking spaces, according to a property listing posted to LoopNet. The property was once used for the assembly of railroad cars by the Pullman Co., according to the Peters & Sowyrda press release, and sits adjacent to a rail line operated by the Providence & Worcester Railroad.
Pullman Street Realty paid $3.1 million for the properties in August 2021, according to City of Worcester property records. The City gave the property a combined tax assessment value of $3.01 million for 2024.
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