The property, which is a single-story facility constructed in 1968, consists of flex space. H&P&K is relocating its manufacturing operation down the block from 6 DeAngelo Dr., where it was leasing a smaller facility.
Micah Stubblebine, a vice president with the firm, tells GlobeSt.com that the deal is indicative of a move among users of flex space to buy rather than lease property. "Interest rates are low and for people who know they will be in business the next 10 years it makes sense to own." He points out that average lease rates for this type of space in the area is about $7.50 per sf triple net.
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