"Their requirement was exactly what we had to offer. They were able to walk in and use a lot of the existing infrastructure, including the silos and some of the equipment," Steve Poole, a senior associate at Grubb & Ellis/BRE Commercial, tells GlobeSt.com.
The 4534 N. 44th Ave. property wasn't on the market two weeks before the buyer's holding company, 44th Avenue LLC, placed an all-cash offer. The sellers, Walter and Karen Laich of Cleveland, were seeking $6.1 million.
Laich Industries, a plastics manufacturer, built the plant in 1997. It closed the doors in April and took the operation to its Cleveland headquarters.
The single-story, concrete tilt-wall building includes 36,000 sf of manufacturing space, 61,000 sf of warehouse area and a 2,600-sf office. The property also includes 10 silos, used to funnel plastics materials into the plant.
Laich's listing also included a 10-ton bridge crane that Top Seal can use in its own operations. The buyer is in the process of moving into the plant. The plan is to continue to operate other manufacturing facilities in Phoenix and Edinburgh, IN. Top Seal was acquired by Boyertown, PA-based Drug Plastics in 2001.
Poole and Tony Lydon of Grubb & Ellis/BRE Commercial represented the sellers. Paul Sieczkowski of Colliers International negotiated for the buyer.
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