A manufacturer of high-speed data transmission cables has expanded its footprint in Manchester with a $3.1 million industrial property purchase.
In a deed recorded March 25, a limited liability company headed by NetSource President Thor Swanson acquired a 55,950-square-foot, 1974-vintage light-industrial building on 4.6 acres at 90 Progress Drive. The property was sold by Discount Trophy & Co. Inc.
The concrete and cinderblock-sided building features 18-foot wall heights and sits adjacent to NetSource’s existing operations. Its rear abuts the company’s 56,000-square-foot headquarters facility at 260 Progress Drive.
The purchasing entity, 90 Progress Drive LLC, obtained a $2.48 million mortgage from Windsor Federal Bank secured by the property. The mortgage was also recorded March 25.
An attempt to reach Swanson was not immediately successful on Monday morning.
The selling LLC’s principals include Marcel O. and Barbara D. Bizier, of Marco Island, Florida. Discount Trophy & Co. acquired the property in 2019 for $2.1 million, according to town records.
