Planning to acquire Xerox Holdings property SKANEATELES, N.Y. — Tessy Plastics Corp. says it will expand its footprint into Monroe County by year’s end with the purchase of a property with three buildings that Xerox […]
Planning to acquire Xerox Holdings property
SKANEATELES, N.Y. — Tessy Plastics Corp. says it will expand its footprint into Monroe County by year’s end with the purchase of a property with three buildings that Xerox Holdings Corporation previously owned.
The property is in the Monroe County community of Webster, about an hour away from Tessy’s existing facilities in Onondaga County.
The company isn’t releasing the amount it’s paying for the property and the three buildings, Grace Oswald, marketing specialist for Tessy Plastics, tells CNYBJ in an email.
Founded in 1973, Tessy Plastics is a contract manufacturer headquartered in Skaneateles with additional local facilities in Elbridge and Van Buren. The firm specializes in injection molding and custom automated-assembly products.
The acquisition represents supplemental warehouse space and “room for future growth,” per a Tessy news release. All three buildings provide an estimated total of about 1.5 million square feet, with the largest of three buildings measuring more than 750,000 square feet.
Two of the three buildings are already vacant and the third will be vacant by 2022.
The additional buildings mean Tessy Plastics is nearly doubling its available square footage, the company said. Tessy currently has more than 1.7 million square feet of space in its facilities in New York, Pennsylvania, and China.
“Knowing that we have the extra space to expand in the future is a strategic initiative that has always been important to Tessy. We’ve had great success in the past with having additional space. Having the extra square footage allows us to onboard programs quickly and continually adapt to our customers’ ever-changing needs,” Roland Beck, president of Tessy Plastics said. “Just last year we took on a large medical program that required us to have a manufacturing facility readily available. In just 15 weeks, we transformed a 400,000 square foot warehouse into a state-of-the-art medical manufacturing facility in support of one of our largest customers’ needs regarding the global pandemic.”
Tessy plans to lease a portion of the purchased area in Webster to third-party tenants and use the remainder as warehouse space — proceeding with the assumption that the buildings will later turn into full-scale production plants.
“It’s remarkable to see how much we have grown. In 2016, we were excited to nearly double our total square footage and now we have close to triple that amount totaling close to 3 million square feet in Central New York,” Beck said.