Former A. Schulman site in Worcester sells for $4M
Photo | Grant Welker
The former A. Schulman manufacturing site on Millbrook Street in Worcester
The former A. Schulman Inc. manufacturing plant on Millbrook Street in Worcester has been bought by a Boston real estate advisory and development firm, GFI Partners.
The site at 53 Millbrook St. closed in 2019, laying off 68 workers, after the chemicals firm LyondellBasell bought A. Schulman, a maker of plastic compounds, composites and powders. An entity of LyondellBasell, which has its American headquarters in Houston, has now sold the site.
The Worcester site is one of two in Central Massachusetts GFI Partners bought in March.
GFI Partners has also bought a 100,000-square-foot warehouse off Princeton Road in Fitchburg for $3.9 million. The seller is a limited liability corporation registered to Nancy, Pamela and Peter Quick of Jaffrey, N.H. The deal closed March 5.
The Fitchburg warehouse at 46 Development Road sits on the Westminster line at the end of the Authority Drive industrial area. The nearly nine-acre site was last assessed by the City of Fitchburg at just under $2.5 million.
The former A. Schulman site in Worcester totals roughly 113,000 square feet on 4.7 acres. The property, which stands about a block off Gold Star Boulevard, is zoned for manufacturing use. It was last assessed by the City of Worcester at nearly $3.7 million. The sale closed March 6.
The new Worcester and Fitchburg sales add to a string of deals GFI has made in Central Massachusetts in the past year. The firm paid nearly $7.5 million for Worcester Sand & Gravel's Shrewsbury site in January, bought for $5.6 million Simonds Saw's 135 Intervale Road facility in Fitchburg last October, and nearly $6 million last July for a 168,000-square-foot manufacturing facility at 5 Cudworth Road in Webster.
GFI also sold two major area assets, including a Quiet Logistics facility in Devens, the former AMSC headquarters, for $36.7 million to Morgan Stanley Real Estate Advisor last May, and a 147,000-square-foot distribution facility in West Boylston, which was sold last July to a Connecticut investment firm, Wheelock Street Capital, for $10.6 million.
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