Emerald Technologies also leased 4,000 sf following the sale, leaving the building 52% occupied. Bo Bradford and Tom McFadden, senior directors in the industrial services group of Advantis Real Estate Services Co./GVA, handled the transaction.
The sale/leaseback was done at this time because KX International was restructuring the company, "eliminating certain more costly divisions and ultimately compressing its storage and manufacturing space needs to be more profitable," Bradford tells GlobeSt.com.
The broker says the property was on the market for about 12 months. "There were no special challenges to either the owner or brokers in either marketing or closing this deal," the broker says.
KX International designs, fabricates, installs and maintains animated characters for theme park-oriented companies. The company also handles specialty construction projects for theme parks and tourist-type destinations.
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