The deal is indicative of a trend among users to purchase, rather than lease, industrial properties. Industry analysts attribute the trend to low-interest rates and the high demand for modernized industrial properties with easy access to the city.
David and James Stubblebine, principals of the Stubblebine Co. represented RLR and procured the buyer, which assembles plastic filters for laboratory equipment. The multi-purpose industrial building, which situated on nearly two acres, is located just off Route 3.
RLR Investments specializes in developing vacant land or less desirable buildings into centers for commerce. The company owns hundreds of properties in 29 states, ranging from manufacturing, warehousing, hospitality, resort/vacation, to vacant ground for development.
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