International real estate firm acquires two Leominster industrial buildings for $14.7M

EQT Exeter acquired two industrial buildings, with a combined 116,000 square feet, located at 100 & 110 Jytek Drive in Leominster for $14.7 million on Thursday, as the Radnor, Pa. real estate investment firm expands further into Massachusetts.

EQT Exeter is bullish on the region, opening an office in the Boston area in 2021 to pursue investments in office, life science, industrial and multi-family sectors across New England, according to the company. EQT Exeter is the real estate division of Swedish investment giant EQT Group AB.

Valor Capital, a Cambridge-based industrial real estate firm, was the seller, according to the Worcester North Registry of Deeds. Dallas real estate firm CBRE, whose New England operations are based in Boston, brokered the deal. The properties last sold in 2019 for $7.5 million. The combined properties were last assessed by the City of Leominster at $3.9 million. 

ElectroWire leases space at 100 Jytek Drive. The company, a subsidiary of Chicago’s Genuine Cable Group, supplies wire, cable and components to the broadband, telecom and transportation industries.

Jytek Park has been the site of five multi-million dollar sales in the past year including a $1.58-million dollar warehouse in May, a $1.6-million warehouse in December and three properties totalling $7.1 million in June 2021.