Fajon Machining, a division of Fajon Turbine Services Inc., bought the southeast corner of 23rd and Jefferson streets. Andy Markham, a vice president with Grubb & Ellis|BRE Commercial LLC, tells GlobeSt.com that ground will break before the end of the year. The firm plans to move from 11,000 sf at 1711 E. Jackson St. in first quarter 2006.

According to Markham, Fajon Machining searched for existing space, but just couldn't find any that fit its needs. "The market is really tight right now and it's hard to find functional facilities," he says. In fact, Fajon Machining faced competition from other users out in the market looking for space. "We had a lot of interest in the acreage because of its frontage on Jefferson and proximity to the future light rail," he says. Karber LLC is the seller of record.

Tom Altieri of New York City-based Lehman Brothers arranged project financing. Norwalk, CT-based Emcor Group Inc. is the general contractor.