*Business News – Media Advisory* Methuen/Lawrence Former Malden Mills Industrial Building to Gain New Life
Mayor Stephen Zanni
41 Pleasant St.
Methuen, MA 01844
For Immediate Release
Friday, Dec. 8, 2017
Contact: John Guilfoil
City of Methuen to take part in Major Announcement Regarding Former Malden Mills Industrial Building
California Firm Acquires Nearly 600,000-Square-Foot Building, Will Bring Jobs to Merrimack Valley
METHUEN — Mayor Stephen Zanni is very pleased to announce that California-based real estate broker Jitender Makkar has purchased the industrial manufacturing facility at 46 Strafford St., Lawrence, that once housed the Polartec textile plant.
Under a new name “IndusPAD,” Makkar is hopeful to revitalize and rejuvenate the property by attracting businesses to lease space in the nearly 600,000-square-foot building.
The public and the press are invited to a press conference on Saturday, and additional news about a proposed hydroponic plant for growing organic produce opening in the mill will be announced. The business is expected to serve as a launchpad for the building’s future and bring dozens of jobs to the area.
The property sits on about 15-acres of land in both Methuen and Lawrence. In 2016, Polartec announced that it would be shuttering the plant, costing jobs and affecting a major footprint on the Methuen/Lawrence border.
“This is terrific news for Methuen and Lawrence and the entire Merrimack Valley. Saturday’s announcement will bring new jobs and will have a positive impact on the community,” Mayor Zanni said. “This is a great opportunity to revitalize a building that had an uncertain future as recently as last year. That national developers are seeing opportunities in our region is very exciting for us, and the sky is the limit.”
46 Strafford St., Lawrence, at the main entrance in the rear of the building.
Saturday, Dec. 9, at 11 a.m.
A press conference will be held with Mayor Zanni, Lawrence Mayor Dan Rivera and Makkar, who will talk about his vision for IndusPAD.
The space will be subdivided to host seven to 10 tenants and Makkar has plans to use some of the property for vertical farming of organic produce for local consumption.
IndusPAD hopes to attract a variety of industries to the property including textile manufacturing, breweries, storage companies and manufacturing plants.
Much of the building is already equipped with modern upgrades to infrastructure, such as, HVAC upgrades, parking lot improvements, mezzanine office renovations and a partial roof replacement.
“With the vision and industriousness of Mr. Makkar, I am hopeful that the building will be brought back to its former glory and be a boon for the region’s economic development,” Mayor Zanni said.