CI Works Expands to CI_Works@IndusPAD
CI Works’ recent growth in Amesbury now includes 62 businesses and 200 jobs located there. We have also lost growth space to the needs of the current owner due to growth in their own business. We are no longer able to meet the requirements of all of the companies in our current pipeline. So, we have looked for existing space outside of Amesbury. It needs to be an existing building, not new construction, because new construction is not only not necessary, but capital expensive and bad for the environment…..plenty of buildings already exist. But, some people like shiny new toys…..mostly because in some ways it is easier for them.
CI Works was recently contacted by Jitender Makkar regarding a building that he owns in Methuen / Lawrence, MA. The building is massive at 600,000 square feet and exceeded $110 million in cost to build by the then owner – Polartec. They left the region and the building behind. Their use was manufacturing and what remains is an amazing manufacturing asset that we plan to make available to smaller, specialty manufacturers in Massachusetts in a flexible and cost effective lease structure that fits the current status of their business. This use is consistent with Jitender’s vision to offer IndusPad – as re-branded – innovation focused facility that makes the asset available to multiple businesses, vs. the traditional real estate model of individual owner / occupier. How is that working out?
CI Works will be leasing approximately 90,000 sq. ft. that we will seek to replicate what has been produced in Amesbury already. We may have a little different industry focus there and will readily adapt to the demand that exists in this area and ties to the region’s history. We are excited by this opportunity and feel we have a one-of-a-kind building that offers unsurpassed capability and will offer it to companies poised to scale-up their manufacturing. The existing Amesbury eco-system of potential partner businesses from different fields will also be available to tenants there.
This is what @CI Works is all about. Join us or contact us for more information.