Mass. company buys Celestica building at Pease

Fri. September 18, 2009; Posted: 12:46 PM

PORTSMOUTH, Sep 18, 2009 (Foster's Daily Democrat - McClatchy-Tribune Information Services via COMTEX) -- CLS | Quote | Chart | News | PowerRating -- After years of claiming interest in the Celestica building at the Pease International Tradeport, a Massachusetts firm has recently purchased the structure for $15 million cash.

The new owner of the 206,000-square-foot building at 72 Pease Blvd. -- Winstanley Enterprises LLC of Concord, Mass. -- closed on the building on Aug. 12, said principal David Winstanley.

Built in 1999, the building is the second largest single-occupant facility in the tradeport, behind the 650,000-square-foot Lonza Biologics facility. At its peak, the building housed as many as 960 Celestica employees and then gradually decreased the size of its workforce until it moved operations to Salem in 2003.

Despite the company being gone, Celestica still holds the lease to the building until 2015.

"We are looking for alternative uses for the building and we have just really begun conversation about what the long terms interests are," said Winstanley.

Now only 75,000 square feet of the building is being used by a subtenant, Kittery Trading Post, for warehouse and distribution, but Winstanley said the building was made to manufacture, and that is likely where its future will be.

Winstanley said part of the appeal of the building was its location.

"We like the location and we like the location in the business park, too," said Winstanley. "It's the first main building you run into on the right, so we think it's a great location and a very attractive building that is well landscaped.

The layout of the building allows for approximately 60,000 square feet of office space and 140,000 square feet of manufacturing.

Winstanley said the $15 million cash purchase was made possible by the company selling nearly 32 building in 2006 and 2007.

To see more of Foster's Daily Democrat or to subscribe to the newspaper, go to
http://www.fosters.com/. Copyright (c) 2009, Foster's Daily Democrat, Dover,
N.H. Distributed by McClatchy-Tribune Information Services. For reprints, email
tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax
to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave.,
Suite 303, Glenview, IL 60025, USA.

For full details on Celestica Inc (CLS) click here. Celestica Inc (CLS) has Short Term PowerRatings of 7. Details on Celestica Inc (CLS) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.