MassDevelopment

MassDevelopment Bond Finances Expanded Facility for Worcester Manufacturer

March 8, 2017


FOR IMMEDIATE RELEASE

Contacts:
Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)
mquackenbush@massdevelopment.com

Steve Migridichian, D&S Realty, 508-962-1031
smigridichian@dandsrealtyllp.com

Gabor Hajos, Curtis Industries Inc., 508-878-8425
ghajos@curtisindustries.net

MassDevelopment has issued an $8 million tax-exempt bond on behalf of D&S Realty LLP, a real estate entity in West Boylston. D&S Realty is using bond proceeds to renovate and expand a facility at 70 Hartwell Street in West Boylston that it has leased to Curtis Industries LLC, a Worcester manufacturer of compact vehicle cabs, attachments, and accessories. Renovations include building a 110,400-square-foot addition for office, storage, and manufacturing space; and making tenant-specific upgrades. Middlesex Savings Bank purchased the bond.

D&S Realty selected the McCarty Companies of Leominster as the design-builder for the project. Construction of the facility started in December 2016 and is expected to be complete by September 2017.

“Central Massachusetts has a rich manufacturing past and present thanks to a highly-skilled workforce and companies like Curtis Industries,” said MassDevelopment President and CEO Marty Jones. “MassDevelopment is pleased to provide low-cost financing that will allow this company to expand and bring more manufacturing jobs to the Worcester region.”

D&S Realty LLP is a commercial and industrial real estate development, management and leasing entity specializing in the purchase, customization and development of former brownfield properties in central and southern New England. Since 1996, when D&S purchased its first brownfields site, the company has grown its portfolio of properties in central and southeast Massachusetts and Connecticut. D&S specializes in custom tenant fit-ups that enhance tenants’ efficiency and bottom line. Personal service is D&S Realty’s trademark quality: it maintains and performs property management of its holdings in-house, thereby allowing direct and constant contact with each of its tenants during their tenancy.

“We are proud to bring true, American-based manufacturing back to this industrial park in West Boylston,” said D&S Realty Managing Partner Steve Migridichian. “Everyone has welcomed Curtis Industries to make this project viable to all stakeholders in this development.”

Curtis Industries LLC, founded in 1968, is a lead supplier, designer, and manufacturer of compact vehicle enclosure systems and related accessories, such as lights, mirrors, and heaters. Curtis products incorporate designs engineered for safety, comfort, and versatility, and are found on a growing list of tractors, mowers, and recreation and work vehicles worldwide. The company serves a network of 6,000 dealers throughout North America, as well as top manufacturers of tractors, utility vehicles, and golf cars.

“We are very pleased to engage in this development project,” said Curtis Industries Vice President Gabor Hajos. “All of the parties involved, from the developer and contractor, to the town and state agencies, have acted in a truly efficient and supportive manner to make this opportunity a reality.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2016, MassDevelopment financed or managed 352 projects generating investment of more than $4 billion in the Massachusetts economy. These projects are projected to create about 8,200 jobs and build or rehabilitate about 4,200 residential units.