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Global manufacturer BTU International Inc. is cutting its headquarters roughly in half as it moves from Billerica to Westford.
The thermal processing equipment manufacturer signed a 57K SF, 10-year lease at 10 Lyberty Way in Westford, the former headquarters of Puma, Avison Young announced in a press release Thursday. BTU plans to depart its 123K SF at 23 Esquire Road in Billerica.
The mixed-use Westford building includes office and manufacturing space.
“Our goals for this project were to modernize our manufacturing facility to enable faster customer delivery times, and to increase competitiveness through a more efficient use of space,” BTU International General Manager Rob DiMatteo said in the release.
Jumbo Capital Management acquired the Westford building from Puma in 2021 for $12.7M. Puma in 2019 announced plans to move its headquarters from the building to Assembly Row, and it moved into its new headquarters in 2021, according to the Boston Business Journal.
BTU sold its office property in Billerica to Marcus Partners in June 2022 for $20.6M, according to property records. The development firm plans to reposition the site, according to the release, but it didn't detail the plans.
Avison Young’s Michael Dalton, Jason Levendusky and Jay Carnevale represented BTU in the deal. Avison Young's Brandon Needleman, Conor Stuhrcke and Lindsey Head are providing project management services to the firm as it builds out its headquarters.
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