Commercial Real Estate News
Acquisition & Disposition
Penmar Industries Acquires Property in Stratford, CT
Stratford, CT – September 20, 2012 – Jon Angel, President of Angel Commercial L.L.C., a Fairfield-based commercial real estate brokerage firm, announces the sale of a 14,220 SF industrial building located at 35 Ontario Street in Stratford, Connecticut to Penmar Industries for $850,000.00.
Penmar Industries is currently based in Norwalk but will be moving into their newly acquired Stratford property during the 4th Quarter of 2012, after the completion of extensive renovations.
Ed Rodriguez, President of Penmar Industries, states, “A vital part of our growth strategy required moving to a facility that could support our expansion plans. We are pleased to have found that facility and look forward to supporting our customers during this new phase for Penmar“.
According to Angel, who represented both the purchaser and the seller, “Penmar was looking to upgrade to a more modern facility with heavy power and full HVAC to support their business. The building on 35 Ontario Street satisfied all their requirements, and its close proximity to I-95 was an added feature”.
Penmar Industries has been in the packaging, labeling, and printing business for 42 years. They provide packaging solutions for many industries globally.