Worcester Business Journal
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. 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.
By Timothy Doyle