Agawam, MA TW Metals, a subsidiary of O’Neal Industries, a family-owned network of metals service centers and component manufacturers, has signed a 10-year lease for 65,000 s/f, half of a 129,500 s/f industrial building at 320 Bowles Rd. The location serves the Springfield and Hartford markets and all of southern New England. Agawam 320 TGCI LLC, an affiliate of The Grossman Companies, Inc., closed on its acquisition of the property on October 30, paying $5.025 million for the property which includes 15 acres of land and trailer storage.
The announcement was made by Jake Grossman, co-president of The Grossman Cos. The class B industrial property had been occupied since its construction in 1988 by one tenant, Simmons Bedding Co., as a production and distribution facility. Grossman acquired the property days after signing the lease. Grossman says, “This park boasts a great location with easy access to I-91, I-90 (Mass. Turnpike) and I-84.”
Keith Kumnick of Colliers International represented TW Metals and Nick Morizio of Colliers International represented the landlord. Morizio also represented the landlord on the purchase of the property and Sean Duffy of Cushman & Wakefield represented the seller, Blue Fin Associates LLC. Bethany Lyons of Washington Trust handled the financing. Michael Dowley and Chris Lhulier of Seyfarth Shaw LLP handled legal aspects of the transaction.
The Colliers International team of Kumnick and Morizio has been hired to lease the remaining space on site. Agawam Industrial Park hosts 30 buildings that are home to local and national tenants including Thermo Fisher Scientific, Vaupell Holdings, and OMG Roofing Products, a subsidiary of Steel Partners Holdings L.P.
“We see continued demand for well-located and functional industrial space in southern New England which prompted our interest in the Agawam property,” Grossman said.