On behalf of MultiLayer Coating Technologies, Timothy O'Callaghan vice president of The Binswanger Cos. has negotiated a long-term lease of the 257,066 s/f (NB6) building in the former Polaroid complex to Konarka Technologies, Inc. The transaction was valued at over $10 millon.
Konarka will utilize the fully operational printing capabilities at the facility to produce its new Power Plastic, a material that converts light to energy. Konarka plans to hire additional employees over the next few years.
The lessor is Watermill Ventures which owns MultiLayer Coating Technologies.
Headquartered in Philadelphia, Pa., Binswanger is an international full-service real estate organization with offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, and Asia.