Photo/Grant Welker
Brian Lemerise, the president of Quiet Logistics, said competition from Amazon and Walmart has forced other retailers to manage higher order volumes.
May 29, 2019
Quiet Logistics facility sold for $36.7M after company acquired
Photo | Grant Welker
AMSC's former Devens offices. The company has downsized to a smaller facility in Ayer due to financial difficulties. Quiet Logistics began leading the building in November 2018.
By Zachary Comeau
The Quiet Logistics facility in Devens, the former AMSC headquarters, has been sold for $36.7 million to Morgan Stanley Real Estate Advisor.
The property was sold by GFI Partners, a Boston property investment firm that purchased the building from manufacturer AMSC in March 2018 for $23 million.
The 300,000-square-foot building sale comes just over two months after Quiet Logistics was acquired by a joint group of real estate and logistics investors for an undisclosed amount.
The two transactions appear to be largely unrelated, said President Brian Lemerise, who said in an email to WBJ the building sale does not affect the company's operations.
New York-based Related Companies and Connecticut-based Greenfield Partners announced in March a joint acquisition of Quiet Logistics. Together, the firms said they plan to expand the company’s platform and capabilities.
On April 30, the Devens Enterprise Commission granted the former property owners a permit to construct 10 new loading dock doors and make other upgrades to the property.
Quiet Logistics' founder, Bruce Welty, is returning to the company as CEO, according to a March 13 announcement of the acquisition.
“I am thrilled to return to Quiet Logistics, to help as we enter a new phase of growth. This significant investment and strategic expansion strategy will allow us to deliver an even more differentiated product, better customer service, and more efficient seamless fulfillment services to our retail partners,” Welty said at the time.
Quiet Logistics is known for shipping well-known brands and utilizing programmed robots in its warehouses.
The company has more than 600 workers at several facilities, and that number more than doubles each holiday season.
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