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Boston-based Eastern Real Estate has agreed to purchase the recently-shuttered Brooks Brothers factory in Haverhill for $14 million, according to a U.S. Bankruptcy Court filing.
Brooks Brothers announced this spring that it would close its three U.S. factories, including the Southwick facility in Haverhill which employed over 400 people. In a bankruptcy proceeding, last week it agreed to a $325 million sale to mall landlord Simon Property Group and apparel licensor Authentic Brands Group.
A Delaware bankruptcy court last week authorized the sale of the property to Eastern Opportunity Fund LLC, an affiliate of Eastern Real Estate, under the terms of a June 17 purchase-and-sale agreement.
The 21-acre property on Computer Drive contains a 158,000-square-foot manufacturing building completed in 2007, according to assessors’ records.
Haverhill Mayor James Fiorentini last month asked Attorney General Maura Healey to pursue a “clawback” of tax credits and a tax increment financing agreement that the company was awarded to keep its manufacturing operations at the Haverhill property.
Although no deed transaction has been filed with the Essex Registry of Deeds, on Aug. 5, the city of Haverhill placed a $400,000 lien on the property for failure to comply with the local TIF agreement.
WBZ-TV first reported that Eastern Real Estate is in the process of acquiring the property. Eastern Real Estate was not immediately available for comment.
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