(Read more on the industrial market.)

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MILFORD, CT-Outland Engineering Inc. has inked a 50,000-sf leasefor warehouse space at 500 Bic Dr. here, according to ColdwellBanker Commercial NRT Inc. executives. Christopher O'Hara ofColdwell Banker represented building owner MDC Milford AssociatesLLC in the transaction.

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The owner's representative in the transaction was Joseph Coci ofMountain Development Corp of Clifton, NJ, which owns and managesapproximately six million sf of office, warehouse and retail spacein New York, New Jersey, Connecticut and Massachusetts.

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500 Bic Dr. is a 625,000-sf facility that has been subdivided toaccommodate warehouse, manufacturing, data center and officetenants, O'Hara notes.

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Outland Engineering, a producer of air conditioning accessories,leased space at 500 Bic Dr. as part of its planned expansion of itsproduct lines. Approximately 450,000 sf of new leases have beensigned at 500 Bic Dr. within the past 12 months.

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In December 2005, MDC Milford, an entity controlled by MountainDevelopment Corp., purchased 500 BIC Dr. from BIC Corp. in a$14-million sale/short-term leaseback transaction. The complex wasthe former site of BIC USA's ballpoint pen and single-blade shavermanufacturing operations and the company's administrative officesthat include its USA consumer products business, its North Americanoperations and global category and business managementfunctions.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.