According to William Kelleher, vice president of brokerage firm Kelleher & Sadowsky Associates, Inc., Coghlin Companies, Inc., the parent company of Columbia Tech, DCI Engineering, Cogmedix and Coghlin Precision, expanded their operations by leasing 61,970 s/f of manufacturing space at 53 Otis St.
The long-term lease of the manufacturing facility facilitated the sale of the building to D & S Realty for $3 million according to Kelleher & Sadowsky.
Coghlin was represented by Kelleher, and James Umphrey, principal of Kelleher & Sadowsky. The seller (confidential) was represented by Greg Zais, vice president and Brendan Callahan, senior vice president of Jones Lange LaSalle Americas, Inc. D & S Realty was procured by A. Murray Real Estate in the transaction.
"While many domestic contract manufactures are struggling to survive, our expertise in industrial automation has enabled us to expand, encouraging several new companies to partner with us," said Chris Coghlin, CEO, Coghlin Companies.
"These customers come to us for our expertise in this emerging technology and our ability to collaborate with them through each step of the engineering and development process. The new facility will be the immediate home to at least two high-speed automated manufacturing process equipment programs."
The additional 60,000 square feet of "clean" manufacturing space will house aspects of the company's manufacturing and engineering divisions and will allow the Coghlin Companies to host several new industrial automation integration programs. The facility also allows the company to create up to 50 new jobs in the next year, helping boost the central Massachusetts economy. "Our new facility is evidence of the company's rapid growth, especially in the Industrial Automation industry," says Chris Palermo, CFO, Coghlin Companies. "We are proud not only to be growing, but to be on the forefront of manufacturing's return to Massachusetts."
The 5.17 acre site is improved with two warehouse buildings totaling 91,570 square feet of manufacturing and warehouse space. The buildings were constructed in a series of stages, with the original building completed in 1981. There was expansion in 1986, and again in 1998 when a 29,400 square foot addition was added that offered 40' clear height, 1600A three-phase power, and state of the art air conditioning systems. 53 Otis Street is considered one the area's finest manufacturing buildings with Class A office space, air conditioning throughout, conference facilities, and exceptional highway access to Routes 9, 290, 495 and the Massachusetts Turnpike. There is currently a 29,600 square foot single-story building that is vacant and offered for lease by Kelleher & Sadowsky Associates, Inc.