Allegro MicroSystems, a global leader in developing high-performance power and sensing semiconductors, is selling the home of its former headquarters in Worcester, MA, announced brokers Cushman & Wakefield, who are facilitating the sale.
The building, located at 115 NE Cutoff, is comprised of 184,000 square feet over two floors and has 56-acres of land that can support additional development. The land can be sold separately. After calling Worcester home since the mid-1960s, Allegro MicroSystems is relocating to Marlborough, MA. The move is part of an overall corporate expansion strategy to augment Allegro’s plan for continued growth through the pursuit of new opportunities focused on advanced technology, innovation and product line expansion.
The land is divisible, and Cushman & Wakefield will consider tenants who want to lease at least 30,000 square feet. The building offers users a highly accessible location, along with supporting access to not only a diverse labor pool, but also a densely populated business, institutional and healthcare community. Possible uses for development parcels include: office space, research & development, manufacturing, distribution and multi-family space.
“The location of 115 Northeast Cutoff is ideal thanks to its proximity to I-290, which provides exceptional access to all of the region’s key highways,” said Kevin Hanna, Executive Director at Cushman & Wakefield. “Our hope is to find a user/buyer who will take advantage of the building’s robust infrastructure.”
Cushman & Wakefield’s Brian Hines, Vice Chairman; Kevin Hanna and Paul Leone, Executive Directors; and Brian Collins, Senior Associate are representing Allegro MicroSystems in the sale. The asset is being offered free and clear of existing debt, and Cushman & Wakefield will assist investors and users during the marketing and transaction process.
Cushman & Wakefield’s Boston office provides a complete suite of commercial real estate services for the entire life cycle of properties and portfolios.
About Allegro MicroSystems, LLC (AML)
Allegro MicroSystems, LLC, (Allegro) is a leader in developing high-performance power and sensing semiconductors. Allegro’s innovative solutions serve high-growth applications within the automotive market, with additional focus on industrial and consumer/computing solutions. Allegro is headquartered in Manchester, New Hampshire (USA) with design, applications, and sales support centers located worldwide. For more information, please visit www.allegromicro.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.