The owner of the Southbridge Innovation Center and Savers Co-operative Bank have agreed to the restructured financing of four buildings to provide $8.9 million in aggregate refinancing, coinciding with a new manufacturer joining the park.
The refinancing was announced along with the lease for Metalogic Industries, the newest tenant of the 1-million-square-foot technology park. The company’s lease for 47,100-square-feet of space will begin in February.
The company, based in Dudley, will relocate its operations to the campus.
“We feel that this site is a perfect fit for Metalogic. Southbridge provides a busy economic scene in a fantastic location at the intersection of the Pike and I-84,” said CEO Tom Kokosinski. “We couldn’t be more hopeful about our future in this community.”
The owner of the Southbridge Innovation Center is Chip Norton, who also owns the Mercantile Center towers in Worcester through his company Franklin Realty Advisors in Boston. According to Southbridge Innovation Center’s website, there is still 665,000-square-feet of available space left on the 150-acre site.
Worcester real estate brokers Kelleher & Sadowsky brokered both the refinancing on the loans as well as the lease for Metalogic Industries. Kelleher’s office is based in the Mercantile Center.
