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Cushman & Wakefield Arranges Sale-Leaseback and Financing of Circor HQ
Cushman & Wakefield has arranged the sale of Circor International’s 183,509-square-foot manufacturing facility and global headquarters for the company’s IMO Pump brand in Monroe, NC.
Cushman & Wakefield’s Rob Cochran, Bill Harrison, Nolan Ashton, and Tommy Whitmore represented Circor International in the sale of the manufacturing facility to Monroe Airport Industrial LLC, an affiliate of Welcome Group. As part of the sale, Circor International will fully leaseback the facility. Jason Hochman, Ron Granite and Bradley Geiger of Cushman & Wakefield secured acquisition financing, a long-term fixed rate loan from an insurance company.
Welcome Group was assisted by its SE Director of Acquisitions Ted Kakambouras, and Allen de Olazarra of Equitable Real Estate Partners. The property will be managed by Equitable Real Estate Partners.
Located at 1710 Airport Rd., the manufacturing facility offers access to major interstates and the greater Charlotte metro area. Circor International has occupied the building since it was constructed in 1979 and expanded upon in 2008.
- ◦Lease
- ◦Sale/Acquisition
- ◦Financing