| Brighton-based New Balance has acquired a 222,680-square-foot mill building in Lawrence for $2 million next to its existing factory and outlet store.
The century-old mill at 200 Merrimack St. was previously owned by Lynn-based Ideal Box, which used a small portion for manufacturing, said Abel Vargas, Lawrence’s director of business and economic development.
New Balance currently employs more than 750 production staff, designers and engineers at its existing Lawrence plant. It has not decided on its plans for the newly acquired property, according to a spokeswoman.
“We are excited to be able to finally rejoin the history Ayer Mill in its entirety and realize the rich history of joining this 1910 structure. We are currently reviewing the new property to better understand any improvements that need to be made,” spokeswoman Amy Dow said in a statement.
New Balance has not met with city officials to discuss its plans, Vargas said.
“They’re such a big employer, and we want to make sure they’re doing well. We’ll reach out to them to find out what they want to do,” he said.
The New Balance property is part of a revitalized commercial cluster along the Merrimack River between I-495 and the Sen. Patricia McGovern Transportation Center, including Lupoli Cos.’ 3.2-million-square-foot Riverwalk mill redevelopment, which contains hundreds of office, medical and industrial users employing approximately 4,500 people.
The city recently received a $3.9 million MassWorks state infrastructure grant which will be used to widen Merrimack Street in the area, install new sidewalks and lighting, create a pocket park at the corner of Union and Merrimack streets and install new traffic signals at the McGovern Center and an entrance to Riverworks. Part of the grant will be used to pay for a land-use study of underutilized parcels on Merrimack Street opposite the mill complexes, Vargas said.
