Hendricks buys Midland Steel building
Hendricks Commercial Properties has purchased the former Midland Steel building at 2535 Beloit Ave.
The 18-year-old, 143,000-square-foot building and 12 acres of land was formerly owned by Helgesen Properties, which built the building in 1988. A Helgesen news release listed the sale price at $2.8 million.
Ken and Diane Hendricks, founders of ABC Supply in Beloit, own Hendricks Development Group.
Midland Steel, which assembled frames for the medium-duty truck line at General Motors in Janesville, closed in 2002 when GM shifted production to a plant in Flint, Mich. Nearly 60 local jobs were lost with the Midland closing.
But the vacant plant will come alive again as CRT Processing leases the majority of space by consolidating its local operations.
CRT is an electronics recycling facility that manages up to 100,000 pounds of equipment per day. CRT handles all types of electronic equipment, including computer systems, televisions, microwaves and Freon-containing equipment.
CRT serves businesses throughout the United States and is one of only a few companies able to convert old cathode ray tubes into reusable materials, according to a Hendricks Development Group news release. CRT also provides data management and destruction services for electronic media such as hard drives.
CRT currently occupies about 25,000 square feet of space in the Beloit Avenue facility for warehousing operations. CRT will now lease an additional 65,000 square feet to consolidate and expand its processing and administrative space, which is now at 1227 Barberry Drive in Janesville.
CRT Processing employs 75 and plans to hire additional staff once the consolidation is complete.
HDG will add eight new docks to the facility to accommodate the expanded operations. The additional docks and expansion should be complete by Labor Day.
Another new tenant is PlayStar, a manufacturer of residential play sets headquartered at 3430 Palmer Drive in Janesville. The balance of the building is leased by Autotec, a provider of sequencing solutions for Lear Corp. that is headquartered at 2303 Kettering Street.
About 15,000 square feet remain available for cold storage, an HDG spokeswoman said.
Source: www.gazetteextra.com
The 18-year-old, 143,000-square-foot building and 12 acres of land was formerly owned by Helgesen Properties, which built the building in 1988. A Helgesen news release listed the sale price at $2.8 million.
Ken and Diane Hendricks, founders of ABC Supply in Beloit, own Hendricks Development Group.
Midland Steel, which assembled frames for the medium-duty truck line at General Motors in Janesville, closed in 2002 when GM shifted production to a plant in Flint, Mich. Nearly 60 local jobs were lost with the Midland closing.
But the vacant plant will come alive again as CRT Processing leases the majority of space by consolidating its local operations.
CRT is an electronics recycling facility that manages up to 100,000 pounds of equipment per day. CRT handles all types of electronic equipment, including computer systems, televisions, microwaves and Freon-containing equipment.
CRT serves businesses throughout the United States and is one of only a few companies able to convert old cathode ray tubes into reusable materials, according to a Hendricks Development Group news release. CRT also provides data management and destruction services for electronic media such as hard drives.
CRT currently occupies about 25,000 square feet of space in the Beloit Avenue facility for warehousing operations. CRT will now lease an additional 65,000 square feet to consolidate and expand its processing and administrative space, which is now at 1227 Barberry Drive in Janesville.
CRT Processing employs 75 and plans to hire additional staff once the consolidation is complete.
HDG will add eight new docks to the facility to accommodate the expanded operations. The additional docks and expansion should be complete by Labor Day.
Another new tenant is PlayStar, a manufacturer of residential play sets headquartered at 3430 Palmer Drive in Janesville. The balance of the building is leased by Autotec, a provider of sequencing solutions for Lear Corp. that is headquartered at 2303 Kettering Street.
About 15,000 square feet remain available for cold storage, an HDG spokeswoman said.
Source: www.gazetteextra.com
posted by AM at
11:15 PM
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