Commercial Real Estate News
Former Syntex Rubber Building Gets Recycled
Bridgeport, CT – October 4, 2012 – Jon Angel, President of Angel Commercial L.L.C., a Fairfield-based commercial real estate brokerage firm, announces the sale of the former Syntex Rubber Building, a 58,722 SF industrial property located at 938 Crescent Avenue, Bridgeport, Connecticut to Joseph Cirillo and Seaview Plastic Recycling, Inc. for an undisclosed price.
Founded in 1963, Syntex Rubber Corporation designed and manufactured molded and stamped rubber products for equipment manufacturers both nationally and internationally. The company supplied many rubber products to a variety of industries including; aerospace, automotive, medical, and sporting goods. In August 2008, Lavelle Industries Inc. purchased Syntex Rubber, absorbing the business into their Wisconsin based operation and therefore leaving the Bridgeport building in 2010. Since then, the property has been occupied with short-term tenants up until this sale.
Cirillo, President and C.E.O. of PlastiCycle Corporation, comments, “As a new resident to Fairfield, CT, I am excited at the opportunity to turn an old unused building into a viable entity contributing to the economic development of Bridgeport and the local community. Jon Angel was instrumental in getting this accomplished. His assistance and professionalism were invaluable. I also appreciated the support in this project by the Bridgeport government and business community.”
PlastiCycle Corporation provides plastic recycling services nationally with offices in New York and Tennessee, and warehouses in Illinois, New York, Texas, and California. With over twenty years of plastics experience, Plasticycle recycles all types of polymers producing clean regrinds, reprocessed pellets, and pulverized materials which are then used for many plastic applications in many industries. Immediate renovation is scheduled for occupancy before Thanksgiving.
According to Angel, who represented both the purchaser and the seller, “Cirillo was looking for premises large enough to support a recycling business as he aims to service the NorthEast region with Seaview Plastics Recycling, Inc. In addition to the size of the property, 938 Crescent Avenue is ideally located within easy access to I-95.”