Manufacturer Consolidates 2 Locations Into New Methuen HQ
An industrial equipment manufacturer has signed a deal to consolidate its North American headquarters in Massachusetts.
CMC North America signed a full-building, 71K SF lease with landlord Starwood Capital Group at 200 Danton Drive in Methuen, according to a press release from broker Hunneman.
The 11.9-acre property consists of 49K SF of warehouse space and 21K SF of office space plus seven loading docks. It sits about 30 miles north of Boston along I-93.
"We now have the space to expand inventory, improve service to customers, and grow sales," CMC North America CEO Jeff Poggi said in a statement.
The company plans to consolidate two of its industrial and office locations in Wilmington and Devens into the new space.
CMC moved into a 20K SF industrial space at 137 Barnum Road in Devens in 2022. The company last year acquired All Access Equipment, which was located at 891 Woburn St. in Wilmington.
Starwood acquired the Methuen building for $64M in November 2020. The property is surrounded by a mix of retail and restaurant options, including Shaw's, Dunkin', Outback Steakhouse and Lowe's, as well as nearby businesses, including McKesson and Tobin Scientific.
Hunneman's Ken Oppenheim represented CMC North America. The company is a subsidiary of Italy-based CMC Aerial platforms, which sells aerial lift technology to 30 countries, according to its website.
