The old Plastalon building - built in the 1950s - in Dixon St was demolished on the weekend.
According to information published in the Wairarapa Times-Age in 1957, the building was opened on August 12 that year by Wairarapa Member of Parliament B V Cooksley.
The article reads: "Fine productsdemand efficient distribution, and the fast, all-weather freightway through the hills to New Zealand's most strategic point has thrown the door to the Wairarapa wide open.
"Quick to realise this were the promoters of Plastalon (NZ) Ltd, whose modern factory in Masterton is being opened this afternoon by the member for the Wairarapa.
"The interest shown in the Wairarapa by this combination of New Zealand and Australian resources is sound business, because the organisers can see what lies ahead."
The building was owned by Masterton Trust Lands Trust.
Construction manager David Hargood said that in recent years the building had been used as a community centre.
"It was originally a factory that employed quite a few people to produce plastic raincoats, I think. Then I think the market wasn't there, so they shut it down, and then the Wairarapa Community Centre went in there for a few years," Mr Hargood said.
The community centre moved to Perry St about 18 months ago.
Mr Hargood said the decision was made to demolish the building because it would be too hard to find another use for it and the land was probably better for developing than anything else.
It took workers one day to pull the building down and will take about a week to get rid of leftover rubbish.