The single-story 152,000-square-foot industrial building at 163 Pioneer Drive in Leominster was recently sold to Framingham-based AIS Development.

The building was sold for $4.2 million, according to data from The Warren Group, parent company of Banker & Tradesman and was assessed for $4.8 million.

The Stubblebine Co./CORFAC International represented both the buyer, and the seller, AP Realty, in the transaction.

The property, previously occupied in its entirety by Aero Plastics, is a manufacturing facility on 13.3 acres and is fully leased to three tenants. The property is located off Route 2.

"AIS made an astute decision to purchase a well-located, multi-tenant asset for a price significantly below replacement cost," said David Stubblebine, president of the company.