Fitchburg manufacturer sells facility for $3.8M
Courtesy | Google
Micron Solutions has sold its main manufacturing facility at facility at 41 Sawyer Passway in Fitchburg.
Fitchburg contract manufacturer Micron Solutions has sold its main manufacturing facility, with a leaseback, for $3.8 million amid a first quarter that saw increases in revenue and profits in comparison to the first quarter of 2020.
Micron signed a purchase-and-sale agreement on Friday for its facility at 41 Sawyer Passway, according to a release. The transaction includes a triple net lease on the 83,093-square-foot facility with a 10-year term, four five-year extension options and initial rent of $31,506 per month.
The transaction is expected to close next month, according to Micron. The company didn't disclose the name of the buyer, and the sale hadn't yet been recorded by the Worcester County Registry of Deeds.
The news of the sale came amid a positive first quarter report for the company.
In the first quarter, Micron reported $5.8 million in revenue, as compared to $5.2 million in the first quarter of 2020, a 10.1% increase, according to a release from the company. Profits for the first quarter was $115,000 compared to a net loss of $295,000 in the first quarter of 2020. The company’s gross margin improved to 16.1% in the first quarter of 2021, compared to 14.1% in the first quarter of 2020.
“We are encouraged by the increase in business development activities as the economy appears to be entering a period of strong growth. While we, like many companies, have had to contend with commodity shortages and difficulties expanding our workforce, we believe we are well positioned to take advantage of the opportunities before us,” CEO Bill Laursen said in the release.
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