Sims Metal Management Aerospace, Inc. has signed a long term lease to occupy the entire 279,000 s/f building in the city's North Meadows. In addition to leasing the entire former ADVO building, Sims Metal Management Aerospace and Winstanley Enterprises also entered into an agreement on the adjacent parcel of land located at 219 West Service Rd. Winstanley will construct and Sims Metal Management Aerospace will lease an additional 145,000 s/f warehouse facility at this location.
Nicholas Morizio, SIOR, CRE represented both parties.
Sims Metal Management Aerospace, Inc. is part of Sims Metal Management, Inc., one of the world's largest full service recyclers of metals and electronics.
The proposed expansion is estimated at $25 million in capital investment and will result in the utilization of a vacant building and 10 acres of land.
It is envisioned that Sims Metal Management Aerospace's current location will be used to accommodate other development within the city.