A 46,000-square-foot industrial building along Route 20 in Auburn, sold in March for $4.8 million, has been leased to Indiana manufacturer OTECH Corp., according to Kelleher & Sadowsky Associates of Worcester, which brokered the lease and the sale.
OTECH, founded in 1999, develops, designs, and custom manufactures high-quality specialty PVC compounds, thermoplastic elastomers and alloys used in electrical wire and cable, footwear, housewares, roofing, agricultural parts, and automotive industries, according to a Monday press release from Kelleher & Sadowsky.
The company operates a 200,000-square-foot manufacturing facility and a 120,000-square-foot warehouse in Rolling Prairie, Indiana. The company has been seeking a location in Massachusetts as part of a long-term expansion plan and intends to hire 25-30 employees at the new location, according to Kelleher & Sadowsky, t
The building was bought in March by investor Henry Kenary from Webster-based RS Holdings, Inc. which purchased the property in 2002 for $2.6 million. The president of RS Holdings is Richard Shea, according to incorporation filings with the Mass. Secretary of the Commonwealth.
Kelleher & Sadowsky Principal William Kelleher and Senior Vice President Paul Matt represented the seller as well as OTECH Corp. in both the sale and lease transaction. Â The buyer was identified and represented by James Egan, also of Kelleher & Sadowsky.
The property at 303 & 313 Washington St. is assessed by the Town of Auburn for approximately $2.3 million.
