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FALL RIVER, MA-Quaker Fabric Corp. has entered into an agreement to sell its 245,000-sf corporate headquarters at 1082 Davol St. for $4.7 million to Rosewood Management Associates. The deal allows the fabric maker to remain in the building under a sale-leaseback agreement.

Cynthia Gordan, with Quaker Fabric, tells GlobeSt.com the sale was part of a corporate consolidation effort. The firm is still negotiating a lease on 127,000 sf of space in the building, she says. The deal is set to close on March 15.

“Consolidating our operations and selling off excess real estate is an integral part of the broader restructuring plan we are currently implementing to improve Quaker’s financial performance,” says Larry Liebenow, Quaker’s president and CEO, in a statement. “This pending sale of our corporate headquarters building on Davol Street in Fall River is consistent with that plan, and leasing part of it back allows us to avoid at least some of the relocation costs we would incur if we needed to move out of this facility completely.”

Neither Liebenow nor officials with Rosewood Management Associates could not be reached for further comment in time for GlobeSt.com’s deadline.

Gordon says the company, Fall River’s largest manufacturing employer has had its headquarters in the Davol Street building for about 10 years.

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