AMSC to sell Devens HQ for $23M
Grant Welker
AMSC is planning to sell their former headquarters or $23 million.
Devens-based maker of equipment for the alternative energy industry AMSC will sell its Jackson Road headquarters for $23 million, the company announced Thursday.
The buyer, according to AMSC, is 64 Jackson LLC, an entity with a listed address of 133 Pearl St. in Boston, managed by Steven E. Goodman. Goodman is also listed as the founding partner of GFI Partners, a property investment firm at that Boston address.
The purchase price of the 355,000-square-foot building includes $17 million in cash, including a $500,000 deposit due by Feb. 4 and another $500,000 due by Feb. 15.
The other $6 million is in the form of a subordinated secured commercial promissory note.
The transaction is expected to close on March 30.
The company is relocating to building just a few miles away, a 90,000-square-foot building on Main Street in Ayer.
The new office, 114 East Main St., is owned by GFI Partners, which acquired the property for nearly $3.2 million in August. The space is fully leased to AMSC.
The downsizing was due to some hard times for the company of late, which included laying off about 30 employees last spring.
In the company’s most recent earnings report in November for 2Q, it reported net loss of $7.3 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments