Charter school buys former Manchester manufacturing plant

Perimeter Road location sold for $1.4 million

A 59,000-square-foot-foot building at 5 Perimeter Rd. in Manchester – which once housed a contract manufacturing firm – has been sold for $1.4 million to the organizers of a public charter school.

The Founders Academy, which currently is based in Amherst, purchased the building, which sits on a five-acre ground leased parcel near Manchester-Boston Regional Airport.

The building previously housed the New Hampshire operations of Rochester, N.Y.-based PGM Corp., the former Precision Grinding and Manufacturing Corp.

Dan Scanlon of Colliers International’s Manchester office, represented PGM of New England LLC in the transaction. Sue Ann Johnson of Cushman and Wakefield represented The Founders Academy.