 (2).jpg)
News: Front Section
Posted: June 2, 2011
Grubb & Ellis Company represents Spinelli in 62,000 s/f lease to Engineered Materials Corp.
Grubb & Ellis Company recently represented Spinelli Commercial Properties in the lease of 62,000 s/f of R&D/manufacturing space at 17-57 Jonspin Rd. to Engineered Materials Corp., a subsidiary of IBC Advanced Alloys Corp. The company expects to fully occupy the space and commence production in the second quarter of 2011.
The lease represents a U.S. headquarters relocation and expansion for the advanced materials manufacturer. Grubb & Ellis' Jack Kerrigan, executive vice president, and Paul Delaney, associate vice president, both of the company's office group, facilitated the transaction on behalf of the landlord, Spinelli Commercial Props., while Steve James and Jim Boudrot of NAI Hunnerman represented the tenant. Rachele DePamphilis, the hands-on CEO of Spinelli Properties, was also instrumental in the transaction
"IBC Engineered Materials' lease is a great win for Spinelli Properties in its North Wilmington Business Park," said DePamphilis. "The flexibility of the available space, as well as the tremendous reputation of Spinelli and the tenant's familiarity of ownership, makes North Wilmington Business Park an ideal location for IBC Engineered Materials and similar users looking for Class A flex space. We look forward to seeing the firm's successful growth."
About Grubb & Ellis Company
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 5,200 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment management business, the company is a leading sponsor of real estate investment programs. For more information, visit www.grubb-ellis.com.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Quick Hits
Columns and Thought Leadership
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
