Colebrook Realty Services, Inc. & Jennings Real Estate Services, LLC broker sale of 100 Water Street (Hampden Papers Mill Complex) in Holyoke, MA
Holyoke, MASSACHUSETTS (September 1, 2021) – Colebrook Realty Services, Inc. announces today the sale of the 326,664 square-foot industrial mill building on Water Street in Holyoke between Hampden Glazed Paper + Card Co. and Green Thumb Industries, Inc. – a cannabis grower and retailer. The property is located at 100 Water Street in Holyoke, Massachusetts.
Green Thumb Industries (GTI) is a national marijuana producer headquartered in Chicago with various brands and business units to its name. The company, who has 13 manufacturing locations and 97 retail sites across the United States, is growing their footprint in Holyoke. According to their website, the company promotes well-being through the power of cannabis and was established in 2014 with over 2,300 employees. The acquisition of 100 Water Street indicates their continued plans for expansion and the positive environment the city of Holyoke has created for cannabis growers, manufacturers, and retailers.
"It was difficult to close down a family business that has been in my family since 1880, but I am pleased that GTI has purchased our facility at 100 Water Street in Holyoke," said Bob Fowler, CEO of Hampden Papers, Inc. "GTI has already proven that they are a good neighbor and a significant contributor to the economy of Holyoke, providing good jobs and significant tax revenues for the City.”
100 Water Street was the headquarters of Hampden Papers, a 140 year old family business that sold in 2020. The company specialized in specialty coated, laminated, printed and embossed paper products paper. The mill complex is comprised of five interconnected industrial buildings, some multi-level and others single story warehouses with high ceilings and several loading docks. The property features convenient access to major interstates including the Mass Pike and I-91. Mitch Bolotin of Colebrook represented the seller and Kevin Jennings of Jennings Real Estate represented the buyer. “While unfortunate to see Hampden Paper close, it was important to Mr. Fowler that the Property be in good hands going forward, continue providing jobs to the greater Holyoke community and GTI will accomplish those goals” said Mitch Bolotin, Vice President of Colebrook Realty Services.
9/13/2021 UPDATE: Stories about the sale of 100 Water Street have been reported by several local papers. You can read more about GTI's purchase of the property by checking out the news sites below:
About Colebrook Realty Services, Inc.
Established in 1973 as the real estate arm of SIS Bank, Colebrook has been independently owned since 1988. The firm’s emphasis over the past decade has been on leveraging its development and ownership experience to its client services practice, including tenant representation. Colebrook’s expertise is working with those seeking commercial properties for sale or lease in the greater Pioneer Valley, as well as with owners of real estate who could use a seasoned approach to selling or leasing their properties. Feel free to get in touch should you have questions about commercial real estate in Springfield MA or the surrounding cities and towns.