"This was an ideal situation for Rotor Clip, as their 238,000-sf manufacturing facility is just down the street," says Zimmel. "They are looking forward to owning rather than leasing these two buildings, which are important to their operation."
Zimmel had sold the buildings to USLR, headed by Larry Berger, back in the early 1990s. He also handled the original lease to Rotor Clip, which makes and distributes retaining rings and hose clamps.
In the second transaction, Milestone Ventures, a software company, has acquired 230 Davidson Ave., an 18,000-sf office building. USLR was once again the seller, getting $1.8 million for the asset. Zimmel and Joel Natter, a vice president of his firm, arranged the deal. The buyer will occupy 2,000 sf, with the balance of the space leased on a long-term basis to a daycare center and an accounting firm.
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