Search
 

United Defense Pays Nearly $7M for Rest Of Plant

FRIDLEY, MN-The defense contractor has been in the 2.1-million-sf facility for more than 60 years. United Defense Industries has several new contracts to work on Army vehicles, missile-launching systems and Navy submarines.

By Jim McCartney | Updated on May 07, 2004

FRIDLEY, MN-United Defense Industries is paying the US Navy $6.5 million for the 2.1-million-sf building it has been in since the 1940s. The Arlington, VA-based defense contractor says is buying the 60% of the building it does not already own.

The deal is expected to close within a few months. Apparently, the Navy had only recently expressed interest in selling its remaining interest in the building.

United Defense has been leasing the building is on a 135 acre site on East River Road near Interstate 694. The facility serves as the base for the company’s armaments systems division. At its peak, near the end of World War II, as many 11,000 people worked at United Defense’s plant churning out big Navy guns.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.