X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

MILFORD, CT-Outland Engineering Inc. has inked a 50,000-sf lease for warehouse space at 500 Bic Dr. here, according to Coldwell Banker Commercial NRT Inc. executives. Christopher O’Hara of Coldwell Banker represented building owner MDC Milford Associates LLC in the transaction.

The owner’s representative in the transaction was Joseph Coci of Mountain Development Corp of Clifton, NJ, which owns and manages approximately six million sf of office, warehouse and retail space in New York, New Jersey, Connecticut and Massachusetts.

500 Bic Dr. is a 625,000-sf facility that has been subdivided to accommodate warehouse, manufacturing, data center and office tenants, O’Hara notes.

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

In December 2005, MDC Milford, an entity controlled by Mountain Development Corp., purchased 500 BIC Dr. from BIC Corp. in a $14-million sale/short-term leaseback transaction. The complex was the former site of BIC USA’s ballpoint pen and single-blade shaver manufacturing operations and the company’s administrative offices that include its USA consumer products business, its North American operations and global category and business management functions.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.