Mass. firm to relocate to Hudson facility
Innovation Associates buys 75k-square-foot Sagamore Industrial Park building
A 75,288-square-foot manufacturing building on 7.31 acres in the Sagamore Industrial Park at 20 Executive Drive in Hudson has been sold by JTT Associates to Innovation Associates for nearly $4 million.
According to Robert Rohrer of Colliers International’s Manchester office, who represented the JTT and procured the buyer, the building will be used by Innovative Products & Equipment Inc., a designer and manufacturer of custom assembly automation, process and test systems, which is moving from its current facility in Tyngsboro, Mass., where more than 40 people are employed.
Innovative will occupy 32,000 square feet of the facility, with the balance already occupied by Vaupell Rapid Solutions on a long-term lease. Vaupell designs, engineers and produces custom, high-performance engineered plastic and composite components and assemblies.
Rohrer said Innovative partnered with the NH Business Finance Authority to secure part of the financing for the acquisition through a tax-exempt Industrial Development Bond.
According to the Hillsborough County Registry of Deeds, the sale price was $3,999,999.