Michael Giuttari, SIOR and George Paskalis of MG Commercial Real Estate have sold the former JB Prata building located in the Howard Industrial Park at 60 Kenney Dr. The property consists of a 78,000 s/f manufacturing/warehouse facility with 5.75 acres on Rte. 95.
The seller, J. Prata Properties, LLC, manufactured all types of adhesive tapes and was acquired by a Japanese company in 2003, ultimately leading to the company's relocation. The buyer, Millwork One, is expanding from its two buildings, and will occupy the entire facility.
Giuttari represented the seller and Paskalis represented the buyer. The sale price was $3.5 million.
In the second transaction, Arnold Lumber purchased a 97,000 s/f distribution warehouse on 11 acres in Coventry, RI from Clariant Corporation for $3.1 million. Arnold Lumber is expanding and Clariant is relocating to the south.
Giuttari and Paskalis represented Clariant and procured the buyer.