Billipp of The Kane Co. leases 72 Pease Blvd. in Pease International Tradeport to Sig Sauer

April 05, 2012 - Northern New England

72 Pease Blvd. - Portsmouth, N.H.

Peter Billipp, The Kane Co.

George Bald, Department of Resources and Economic Development

Peter Billipp of The Kane Co. leased the 206,000 s/f 72 Pease Blvd. building to SIG Sauer in the Pease International Tradeport. The lease highlights the continued desirability of the tradeport and marks a resurgence in the efforts to diversify the employment base to include coveted manufacturing jobs.
Billipp procured the tenant. Winstanlcey Enterprises is the building owner. Sig Sauer has an option to purchase the building within three years.
SIG Sauer's move to the former Celestica building at 72 Pease Blvd. will at long last see full occupancy of one of the largest buildings at the tradeport, which has been vacant since 2003.
Adding SIG Sauer to the mix follows the 2011 move of Rand-Whitney Container Northeast LLC to the former Flextronics building at 162 Corporate Dr. Both of these buildings represent the effort to bring high-tech manufacturing jobs to the tradeport, which unfortunately failed in part due to the 2001 recession and a slowdown in the electronics sector.
Some may argue high-tech manufacturing jobs are preferred over container and gun manufacturing, but it's better to have jobs in these areas than no jobs at all. It's better to adjust to changing market needs, and the large spaces at Pease allow for nimble transitions.
Successful manufacturing operations both at Pease and on the Seacoast will reaffirm the quality of our work force and may help attract other manufacturing industries to our shores. This will help diversify our economy, which will provide safeguards against the impact of fluctuations within specific sectors.
Some may also argue that Pease is drawing businesses already on the Seacoast. Rand-Whitney moved from Rochester and SIG Sauer will move its 572 employees to Pease from Exeter. The reality is these companies could have moved out of state and taken precious jobs with them. George Bald, commissioner of the Department of Resources and Economic Development, said he knows several other states courted SIG Sauer over the years.
Pease remains the hub of economic activity of the Seacoast. Without such a hub, it is unlikely the Seacoast could provide suitable locations for new and growing industry leaders.
Both SIG Sauer and Rand-Whitney employees are not forced to move out of state to keep their jobs, and New Hampshire has made the investment to improve road infrastructure to and from the tradeport. The expansion of the Spaulding Tpke. is a testament to this.
Pease's desirability pays dividends beyond jobs in the tradeport. SIG Sauer officials say they plan to make $7.5 million in upgrades to the former Celestica building, which is likely to deliver a positive economic ripple effect across the Seacoast.
72 Pease Blvd. is a two-story office/warehouse building constructed in 1998. Situated on 21 acres at the main entrance of the Tradeport, 72 Pease Blvd. is the second-largest single-occupant building in the community and was 100% leased to electronic manufacturing company Celestica Inc. The property features 64,000 s/f of office space, 142,000 s/f of high-bay manufacturing warehouse space and expansion potential of up to 100,000 s/f through the optioning of an additional 10 acres.
The property is in the Pease International Tradeport, a business and aviation community with over 500,000 s/f of office and industrial space.
Tags:

Comments

Add Comment


More from the New England Real Estate Journal