Boston, MA, May 13, 2019 – Colliers International’s north suburban team recently represented Unitex Healthcare Laundry Services in a 188,653-square-foot, full building lease at 155 Shepard Street, Lawrence. Elmsford, New York-based Unitex will backfill the formerly owner-occupied Crown Cork & Seal manufacturing plant following a significant amount of building renovations, including an underway roof-raising project that will nearly double the clear height from 17 feet to 32 feet. A minimum thirty-foot clear height, among other specific requirements for Unitex, including heavy water and power infrastructure, ample trailer storage, access to the desired employee base, and overall town support, led Colliers to JLL’s 155 Shepard Street listing in Lawrence after a thorough review of options in northern MA.
“In reviewing a variety of options for new plant development in New England, Lawrence became an obvious choice once we had an opportunity to meet with the Mayor and his Leadership team,” said Robert Potack, CEO of Unitex. “The support and collaborative approach that they took in understanding the goals of our project was apparent from our first meeting. We are very excited to be moving ahead with our new plant development here.”
As the largest family-owned healthcare service provider in the country, Unitex will invest over $30 million in the building that was recently acquired by Boston-based The Seyon Group, an industrial focused real estate investor. It will ultimately house two plants, one dedicated to serving hospitals and nursing homes and the other servicing outpatient medical facilities and will employ 350 local people upon its planned opening for Summer 2020.
“We purchased the asset based on our belief that we could create a best in class industrial facility through adaptive reuse of the existing elements and performing a full-scale roof raise to 32’ clear,” said Bryan Blake, Managing Partner of Seyon. “We are thrilled that Unitex shared our vision and acted as an excellent partner in executing a long-term commitment to the building and bringing new jobs to Lawrence.”
The Colliers team advising Unitex in the lease transaction included Executive Vice President Greg Klemmer, Senior Vice President Tim Brodigan, and Associates Tim Allen and Daniel Driscoll. Ownership was represented by JLL’s Executive Vice President James Lipscomb and Senior Vice Presidents Michael Ciummei and Joe Fabiano.
About Unitex Healthcare Laundry Services
Headquartered in Elmsford, NY, Unitex Healthcare Laundry Services currently operates eleven laundry processing facilities and one garment warehouse throughout the Northeast. With locations in Newburgh and Mount Vernon, NY, Hartford, South Windsor and Middlebury, CT, as well as New Brunswick, Perth Amboy and Linden NJ, Unitex is able to efficiently service all of the hospitals, long-term care facilities outpatient surgery centers, imaging centers, professional offices as well as specialized operating needs of their acute care facilities. For more than 90 years, Unitex has focused solely on their core business – providing and laundering comfortable, high-quality medical/patient care apparel and linen. Visit: http://www.unitex.com
About The Seyon GroupThe Seyon Group is a boutique real estate investment firm that targets quality institutional investments within top-tier Northeast markets. Founded in January 2017, The Seyon Group works to identify the highest-quality assets situated in strategic, difficult-to-replicate locations, frequently with a potential for higher future uses. As of May 2019, The Seyon Group’s portfolio consists of 24 land, industrial, and warehouse properties, combining for a total of 3 million square feet.
About Colliers International Group Inc.
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.
For further information, please contact:
InkHouse for Colliers