Leominster Property Lands 40,000-SF Tenant

LEOMINSTER, MA-Unlike the white hot office market, the industrial sector along Interstate 495 North faltered in 2007, but a lease at 46 Industrial Rd. here has added a bit of life to the region entering the new year. CPF Inc. is taking 40,000 sf in the 240,000-sf property, which has had its own ups and downs in recent years.

The Stubblebine Co. negotiated terms for both the tenant and lessor, the Paper Store, with the assignment handled by David and James Stubblebine and Al Ringuette. CPF Inc. manufactures and bottles soft drinks and other beverages, including energy drinks, mineral waters, frozen juices and chocolate drinks.

Constructed in the 1960s, 46 Industrial Rd. enjoyed a long period of prosperity during the days when Leominster was a booming manufacturing town focused on plastics production. As that arena moved offshore in the 1970s and 1980s, the region fell into an economic malaise that left many assets underutilized, including 46 Industrial Rd. Located on at the junction of Route 2 and Interstate 190, the building offers many features required of industrial tenants, including 16 loading docks and 18-foot ceilings. There is also direct rail service to the 10-acre parcel.