The owners of the Polartec headquarters and factory in Methuen have placed the property on the market with an eye to attracting the next generation of manufacturers.

The property contains the 2-story, 495,000-square-foot Polartec building and an attached 65,000-square-foot structure. The buildings will be ready for occupancy in early 2017. Avison Young is marketing the property on behalf of owner Versa Capital Management LLC.

Polartec announced in June that it would shutter the plant on the Lawrence-Methuen line and eliminate 230 positions as it moves manufacturing to plants in New Hampshire and Tennessee.

A fire destroyed most of the former Malden Mills property in 1995 and the new manufacturing buildings were built on the site. Malden Mills was acquired by Polartec in 2007.

“The site has an interesting history, and we’re looking forward to finding a new owner and tenants who will have more intriguing stories to tell in the future,” Avison Young’s Scott Jamieson said in a statement.

Polartec, a subsidiary of Versa Capital, has paid for capital improvements including a new air-wash system to condition and humidify air and a 3-million-gallon-per-day water treatment system.

Avison Young also has been selected as leasing agent for the property.

Polartec Property Placed On The Market

by Banker & Tradesman time to read: 1 min
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