Grubb & Ellis Company recently represented Spinelli Commercial Properties in the lease of 62,000 s/f of R&D/manufacturing space at 17-57 Jonspin Rd. to Engineered Materials Corp., a subsidiary of IBC Advanced Alloys Corp. The company expects to fully occupy the space and commence production in the second quarter of 2011.
The lease represents a U.S. headquarters relocation and expansion for the advanced materials manufacturer. Grubb & Ellis' Jack Kerrigan, executive vice president, and Paul Delaney, associate vice president, both of the company's office group, facilitated the transaction on behalf of the landlord, Spinelli Commercial Props., while Steve James and Jim Boudrot of NAI Hunnerman represented the tenant. Rachele DePamphilis, the hands-on CEO of Spinelli Properties, was also instrumental in the transaction
"IBC Engineered Materials' lease is a great win for Spinelli Properties in its North Wilmington Business Park," said DePamphilis. "The flexibility of the available space, as well as the tremendous reputation of Spinelli and the tenant's familiarity of ownership, makes North Wilmington Business Park an ideal location for IBC Engineered Materials and similar users looking for Class A flex space. We look forward to seeing the firm's successful growth."
About Grubb & Ellis Company
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 5,200 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment management business, the company is a leading sponsor of real estate investment programs. For more information, visit www.grubb-ellis.com.