A.M. Castle building in Worcester is bought by Lutco Inc.

Resource from: Worcester Telegram & Gazette Likes:198

Dec 24,2015

WORCESTER - Lutco Inc., a manufacturer of ball bearings and metal stampings, has purchased an adjacent manufacturing building for $1.5 million. Lutco, which has a facility at 677 Cambridge St. that stretches along Quinsigamond Avenue, purchased the A.M. Castle & Co. building at 70 Quinsigamond Ave. The property is adjacent to Lutco's facility. The 65,000-square-foot A.M. Castle building will give Lutco “the opportunity to expand our operations in Worcester," according to Lutco Inc. president and chief executive officer John Stowe. "Lutco plans to make several improvements to the property beginning in January, including significant electrical upgrades," according to a news release. A.M. Castle & Co., a publicly traded company with headquarters in Oak Brook, Illinois, put the building at 70 Quinsigamond Ave. up for sale in July. The company had posted an asking price of $2.5 million; the property was assessed with the city of Worcester for $1.7 million. Kelleher & Sadowsky, a commercial real estate company in Worcester, brokered the sale.

(Worcester Telegram & Gazette)

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