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Photo by Fred Lynch,
Southeast Missourian Newspaper
278,000 SF NASH ROAD
INDUSTRIAL PROPERTY SOLD
Tom Kelsey, commercial broker with Lorimont
Place, Ltd. has announced the recent sale of one of the larger
buildings in the Cape Girardeau area.
The Lorimont broker said the
278,000 square foot facility located at 4680-4780 Nash Road,
west of I-55 and located near the Cape Girardeau airport has been sold
to Moriah Logistics, LLC. The
company is owned by the Kermit Meystedt family who also operate
Genesis Transportation, Inc., a Cape Girardeau based trucking company.
The building, a combination of manufacturing and
warehouse areas is nearly 6.5 acres under roof and included 12.2 acres
of land. It is occupied by two corporate tenants, Silgan
Plastics who leases approximately 124,200 square feet of space and
Proctor & Gamble,
who recently leased 154,167 square feet in the warehouse portion.
Silgan, a plastic container company based in Chesterfield,
Missouri primarily manufactures containers for the Golden Cat division
of Nestle Purina at Bloomfield. Proctor
& Gamble’s paper products division utilizes the balance of the
building for product storage.
Moriah will become the new landlord for Silgan
and in the process of purchasing the property negotiated the lease
arrangement with Proctor & Gamble for transportation and storage. Their Genesis Transportation division will provide for the
product transfer between P & G’s plant north of Jackson to the
Nash Road warehouse facility.
Kelsey said the building, originally built in
1965 has previously been used by Superior Electric as a small
appliance manufacturing plant and for many years was leased by Nestle
Purina as a distribution warehouse.
The property has been owned by Chris Penzel and the Penzel
family for several years. Kelsey did not disclose a sales price, but
the Lorimont website listed a $2.9 million dollar price.
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