HOLYOKE — Colebrook Realty Services Inc. announced the sale of the 326,664-square-foot industrial mill building at 100 Water St. in Holyoke from Hampden Glazed Paper + Card Co. to Green Thumb Industries Inc., a cannabis grower and retailer.
Green Thumb Industries (GTI) is a national marijuana producer headquartered in Chicago with various brands and business units to its name. The company, which has 13 manufacturing locations and 97 retail sites across the U.S., is growing its footprint in Holyoke. The company was established in 2014 and boasts more than 2,300 employees. The acquisition of 100 Water St. reflects its 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 St. 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. 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, vice president of Colebrook Realty Services, 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 and continue providing jobs to the greater Holyoke community, and GTI will accomplish those goals,” Bolotin said.