According to Jon Angel, president of Angel Commercial L.L.C., the Fairfield-based commercial real estate brokerage firm has sold the former Syntex Rubber Building, a 58,722 s/f industrial property located at 938 Crescent Ave. to Joseph Cirillo and Seaview Plastic Recycling, Inc. for an undisclosed price.
Founded in 1963, Syntex Rubber Corp. designed and manufactured molded and stamped rubber products for equipment manufacturers both nationally and internationally. The company supplied many rubber products to variety of industries including; aerospace, automotive, medical and sporting goods. In August 2008, Lavelle Industries Inc. purchased Syntex Rubber, absorbing the business into their Wisconsin based operation and therefore leaving the Bridgeport building in 2010. Since then the property has been occupied with short term tenants up until this sale.
Cirillo, president and C.E.O. of PlastiCycle Corp., said, "As a new resident to Fairfield, I am excited at the opportunity to turn an old unused building into a viable entity contributing to the economic development of Bridgeport and the local community. Jon Angel was instrumental in getting this accomplished. His assistance and professionalism was invaluable. I also appreciated the support in this project by the Bridgeport government and business community."
Immediate renovation is scheduled for occupancy before Thanksgiving.
According to Angel, who represented both the purchaser and the seller, "Cirillo was looking for premises large enough to support a recycling business as he aims to service the NorthEast region with Seaview Plastics Recycling, Inc. In addition to the size of the property, 938 Crescent Avenue is ideally located within easy access to I-95."