Devens manufacturing facility sold for $24M
Image | Courtesy of Google Maps
Watson-Marlow Fluid Technology Group's facility in Devens
Wakefield-based real estate fund Northbridge Partners has purchased a Devens manufacturing facility for $24 million.
The property, located at 16 Bulge Road, was sold in a deal finalized on Friday, according to Worcester District Registry of Deeds records. The property was sold by Scannell Properties, an Indiana-based real estate firm that purchased the then-undeveloped parcel for $3 million in December 2021 from MassDevelopment, the quasi-public agency running business development in Devens.
Following its purchase of the property, Scannell hired Framingham-based ARCO National Construction to build a 150,000-square-foot manufacturing facility, which ARCO broke ground on in November 2021. The facility was built for Watson-Marlow Fluid Technology Group, a United Kingdom-based company specializing in the production of positive displacement pumps, according to a press release issued in November 2021 by Colliers, a Canadian real estate management and consulting firm, which negotiated the lease on behalf of Watson-Marlow.
Construction on the facility was completed in 2022.
The core users for Watson-Marlow’s pump technology are the pharmaceutical, biotechnology, medical diagnostics, and process industries, according to the company’s website. The company’s Devens facility employs more than 150 employees, according to its website.
Watson-Marlow did not immediately respond to an email from WBJ requesting more information on what impact, if any, the sale will have on its operations at the site.
Northbridge Partners has purchased several Central Massachusetts properties since 2020, including a February purchase of 36 Saratoga Blvd. in Devens.
The parcel at 16 Bulge Road was given a tax assessment value of $6.46 million in 2023, according to MassDevelopment, which is responsible for Devens property records.
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