News: Front Section
Posted: November 19, 2007
Klemmer Association brokers $6.742m sale to Weir Valves and Controls
Klemmer Associates LLC was the sole broker in the sale of Kortec, Inc's 106,897 s/f headquarters building, located at 29 Old Right Rd., to Weir Valves and Controls, USA, a Salem based company and a subsidiary of a Weir Group, PLC, a UK based company.
Weir is a leader in critical service and isolation applications and solutions for the power generation, oil and gas exploration and general industrial sectors. It bought the building for $6.742 million.
According to Robert Bradford, president, North Shore Chamber of Commerce, "The North Shore Chamber of Commerce, was proud to work with chamber director, Greg Klemmer and Klemmer Associates, to retain this major employer of 70 high-salary jobs on the North Shore." Kortec, Inc. the seller and an industry leader in co-injection systems suppliers, will remain in a portion of the building as a tenant.
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